Education and Career Forum

Hello Sir/Madam, I am going to apply for an Education Loan in Bank of India. Please tell me about the methods of repayment as I am interested to study MCA through this Education Loan and I don’t know about the repayment of education loan if I take from this Bank Education Loan. Please tell me as soon as possible.

Repayment of student loan by cheque is accepted by most of the banks .
Many banks even have a provision of assigning PDCs .
These post dated cheques are pre signed cheques of dedicated amount submitted to the bank which are only used when the EMI is due.

Other methods of repayment include
Equal payments
Equal installments and fixed equal installments.
The choice of repayment method depends on many factors.