Education and Career Forum

Hello everyone, I am going to apply for Vidya Laxmi Loan Scheme of Laxmi Vilas Bank for my brother’s education. I just want to know about the moratorium period of this particular scheme so that I can easily calculate about the expenses and all things in this particular scheme.

Moratorium period under Laxmi Vilas Bank Vidya Laxmi Loan Scheme is course period plus 1 year or 6 months after employment, whichever is earlier. (Moratorium period could be extended up to 24 months after completion of the studies.)
During the moratorium period, a concession of 1% interest on interest payable during the moratorium period will be allowed during the service of interest.

Originally Posted by Unregistered

Hello everyone, I am going to apply for Vidya Laxmi Loan Scheme of Laxmi Vilas Bank for my brother’s education. I just want to know about the moratorium period of this particular scheme so that I can easily calculate about the expenses and all things in this particular scheme.

Moratorium period or Holiday period under Lakshmi Vilas Bank Vidyal Lakshmi Loan Scheme is the course period + 1 year or 6 months after employment, whichever is earlier. Holiday period could be extended up to 24 months after completion of studies. The course for which loan may be extended should not exceed five years. The repayment period for loans up to Rs 7.50 Lakhs is up to 10 years and above Rs 7.50 Lakhs is up to 15 years. Students can find the details in the website link given Click Here