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#1
25th November 2018, 03:28 PM
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How much interest charges during moratorium period of Manipur Rural Bank Education Loan for BCA(H) course?
I am trying to apply for an education loan in Manipur Rural Bank for my BCA(H) course. I want to know that for applying an education loan what interest charges during the moratorium period? Kindly tell me immediately. Waiting for your response!
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#2
30th June 2022, 04:34 PM
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Re: How much interest charges during moratorium period of Manipur Rural Bank Education Loan for BCA(H) course?
In the moratorium period , students are not required to pay EMIs but the interest still accrued and adds to the burden.
The interest rate on loan ranges from 11.75% to 13%. During the moratorium period , the lender will compute loans Interest by applying the concept of simple interest . Interest is computed on the amount that is actually offered and not on the entire quantum of loan. |
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