#1  
22nd May 2015, 06:30 PM
Unregistered
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Interest rates charge against Education Loan to study MDS? Detailed information about recovery process?


Hello,
I want to know about education loan
for doing MDS course?
I would like to know that what will be
the Interest rates charging for Education
Loan and also tell me the recovery process?





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  #2  
23rd May 2015, 04:28 PM
SudeepKumarSaha
Senior Member+++++
 
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Interest rates charge against Education Loan to study MDS? Detailed information about recovery process?

The interest rate is fixed by Reserve Bank of India and all banks have to comply with it. It fluctuates between 13- 14.5 percentage. However, State Bank of India offers 1 % lesser interest rate than other banks.

In order to repay the loan, you need to approach the concerned bank from which you had taken loan. You need to write an application stating your repayment and requesting the bank to start the process. The bank will give you options of tenure to repay like 3,5,7,etc. and you need to choose as per your convenience. You can also repay by giving lump sum amount. You need to undertake certain formalities as per the managers instructions and then you can start the repayment process.
Do you have any question? or have anything to say?



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