#1  
23rd May 2016, 12:54 PM
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How to get interest subsidy from IOB for education loan?


I have taken the education loan of Rs.290000 for my BE and then i joined for ME and completed . I got a job and joined. So i planned to pay my education loan. So i went to bank. But they said i have to pay Rs.390000. They added nearly 1lakh as interest. If we are pursuing post graduation, we do not have interest for that period right? Then how come they accumulated this much amount as interest? Am i eligible for interest subsidy? Pls help me.
I cant pay this much amount.....




  #2  
26th May 2016, 09:26 AM
bhushankumar398
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Join Date: Jun 2013
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Default Re: How to get interest subsidy from IOB for education loan?

You have taken educational loan of Rs.290000 for your BE course. You have completed your BE and ME course and now the loan amount reached to 390000.

>>You said that when you pursue post graduation, you do not have to pay interest. No, it is not true you have to pay the interest for that duration too. The main reason is that you have taken the educational loan for BE not for ME and also the bank do not know whether you are pursuing any other course after completion of BE or not.

>>Interest subsidy is provided to students belonging to reserved category students as OBC/ SC/ ST students. The most important thing is that interest subsidy form is applied within the course duration. You can not apply after the completion of the course.

>>Now you got the job. So in my opinion you have to start an EMI for the repayment of educational loan. For this you have to contact to the bank branch from where you have taken the educational loan.
  #3  
20th August 2018, 05:01 PM
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Default Re: How to get interest subsidy from IOB for education loan?

I have taken educational loan 112000 only but after two years I discontinued the college but 100000 paid in to the bank Ian I eligible for subsidy by Ed loan
  #4  
6th October 2018, 10:54 AM
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Default Re: How to get interest subsidy from IOB for education loan?

Sir I am am take education loan 180000 in 2013 but sir my 2014-2015 & 2015-2016 year subsidy nhi aayi, when I talk to bank manager he sad that in this year subsidy are not given by canra bank all education loan students , please help me my Emil I'd :[email protected]
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  #5  
31st May 2019, 07:37 PM
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Default Re: How to get interest subsidy from IOB for education loan?

Hi Sir, I Am having credit score of 719 and planning for PG. Whether can i get edu loan of 300000? Please respond to [email protected]

My work exp is 3.2 years....
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  #6  
10th October 2019, 10:28 AM
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Default Re: How to get interest subsidy from IOB for education loan?

Sir i took educational loan in 2012_2103as the amount of 250000 and i discontinue the education of BE course in the year 2015_2016 because of some personal problem...shall i get the interest waive off....i will pay the principal amount....if their is an answer to this question mail me at [email protected]
Thank u....
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