Education and Career Forum

Dear Sir/Mam,

I have taken educational loan Rs.35000/- in IOB for my B.Ed course in the year of 2008.Now the amount with interest is above Rs.48000/-Now I m ready to pay my loan amount Rs 35000. Is there any possible for getting interest subsidy?

Yes, there is a possibility of getting subsidy in the interest. However, this is subjected to your bank's provision. Usually a subsidy is given if you had paid the interest during your course or if the borrower and the co-borrower is Senior Citizen. In your case if anything from the above two cause comply, then you are eligible for subsidy. However, it will be better if you contact the concerned branch of the bank and have a discussion with the branch manager.

I have taken loan from IOB for my son Rs.4 lacs for three yearin 2007 for Engg degree I have completed principle amount and loan i
2012.Can i get subsidy now