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#1
9th December 2015, 05:07 PM
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Interest rates charge against Education Loan to study MDS? Process of recovery?
Hi,
I want to know about education loan for MDS course. What will be the interest rate and recovery process? Please let me know about this immediately. |
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#2
12th December 2015, 02:58 PM
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Re: Interest rates charge against Education Loan to study MDS? Process of recovery?
The interest rate fluctuates from time to time as per orders from Reserve Bank of India. It usually fluctuates in the range of 13-14.5 percent per annum and is computed as simple interest.
Once you get a job or after six months on completion of the course for which you had taken education loan, you need to start repayment of the education loan. On getting job, you can approach bank, have discussion with the branch manager, write an application asking the bank to start the repayment. The bank will give you an EMI amount which you need to pay every month. You can also deposit lumpsum amount in the loan account to repay the loan. If you do not get a job, still you need to start the repayment when bank intimates you for the same. |
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