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#1
3rd November 2016, 05:13 PM
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How much I have to repay against loan amount of Rs. 5 Lacs in State Bank of Hyderabad Education Loan policy? Moratorium period against this amount?
If I take Rs. 5 Lacs in Education Loan from State Bank of Hyderabad for my B.Tech course then how much I have to repay? And in how many years? Kindly tell me the moratorium period for this Rs. 5 Lacs. Thank you!
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#2
6th November 2016, 12:26 PM
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Re: How much I have to repay against loan amount of Rs. 5 Lacs in State Bank of Hyderabad Education Loan policy? Moratorium period against this amount?
It depends on various factors like the number of years you want to repay, the rate of interest, the outstanding loan amount at the end of your course which you need to repay. The usual rate of interest is 12-13.5% computed as simple interest. The amount will be computed for the repayment period as per the prevailing rate of interest. Then it will be divided monthly to decide the EMI amount. As per the present rates, if you opt for repayment period of 7 years, you will need to repay around 10000 per month. The moratorium period is 10 years.
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