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#1
24th April 2018, 04:37 PM
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Repayment methods under Bank of India Education Loan scheme?
Hello everyone, I am going to apply for an Education Loan in Bank of India. Please tell me about the methods of repayment as I don’t know about the repayment of education loan if I take from this Bank. Please tell me asap. Waiting for your response.
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#2
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Re: Repayment methods under Bank of India Education Loan scheme?
Types of loan repayment plans
Standard repayment Extended repayment Graduated repayment Income sensitive repayment The accrued interest during moratorium period and course period is added to the principle and repayment is fixed in monthly installments . One can repay education loan through Repay education loan by cheque/DD Repayment by Cash Automated EMI payments of students loan The repayment period is 5 to 7 years , if student is not able to complete the course in time extension of 2 years may be provided to student. |
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