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#1
25th September 2019, 09:49 PM
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How the interest rates could be changed against an education loan of HDFC Bank?
Hi, I had taken an educational loan of Rs. 8 Lacs from HDFC Bank for my BTech course. They told me that they would charge a fixed interest rate. I have started repaying EMI after completed my course and paid the amount with the same interest rate for a year. Then, when I inquired I was still having Rs. 6.95 Lacs of outstanding and the bank has started charging interest rates more than what they said. How could it be possible? I could not get any satisfactory answer regarding this from HDFC Bank. Then, because of my financial problems, I could not repay for few months. Last month, I got a letter from the Bank to repay the rest outstanding of Rs. 7.5 Lacs.
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#2
21st June 2022, 12:35 AM
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Re: How the interest rates could be changed against an education loan of HDFC Bank?
Loan tenure for upto 10 years.
Interest rate is upto 14.1 % Processing fee is upto 1.5% of the loan amount. The interest rate is applicable on education loans start from a low percentage of 11.25% of the principal amount. Those who have applied for an education loan under floating interest rate then the interest per annum may get changed. |
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