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#1
25th February 2018, 03:36 PM
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How much time will I get to refund the loan amount after completing course?
Friends, Kindly inform me that suppose if I study MBA with education loan, taking from any Public Sector bank and after completing my course then from when they start to get back their loan amount? Suppose I will not get job then from when they take back their loan amount?
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#2
3rd March 2018, 01:45 PM
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Re: How much time will I get to refund the loan amount after completing course?
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The repayment period of an education loan is decided by the bank based on the loan amount. For education loan up to Rs 7.5 Lakhs the repayment period is up to 10 years and for education loan above 7.5 Lakhs the repayment period is up to 15 years. The moratorium period for repayment is the course period + 1 year or 6 months after getting job, whichever is earlier. The bank will deduct the EMI amount from your account automatically. You can contact the bank branch for more details regarding repayment. |
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