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  #1  
28th July 2018, 02:10 PM
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Repayment mode against Rs. 10 Lacs in ICICI Bank Education Loan scheme?


Friends, I want to take loan of Rs. 10 Lacs for my MBA course from ICICI Bank. I want to know the mode of repayment in details so that I can calculate my EMI. Please tell me immediately.




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  #2  
21st October 2022, 11:42 AM
Hera tabrez
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Join Date: Oct 2020
Location: Kanpur
Posts: 6,959
Default Re: Repayment mode against Rs. 10 Lacs in ICICI Bank Education Loan scheme?

Those who want to take loan of Rs 10 lacs with interest rate 12% for 2 years, the EMI would be Rs 47, 073

The accrued interest during moratorium period and course period is added to the principal and repayment is fixed in EMI .
If full interest is serviced before the commencement of repayment , EMI is fixed based on principal amount only.
There are no penalty charges for prepayment.
Do you have any question? or have anything to say?



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