#1  
29th June 2019, 03:37 PM
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Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant?


I just want to know that if I am going to apply an education loan from Indian Overseas Bank then what would be the repayment tenure? I actually want to apply an education loan from this Bank so that I can study MBBS in Abroad that is why I want to know about the repayment tenure.




  #2  
30th June 2019, 04:14 PM
shweta 1411
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Default Re: Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant?

Repayment tenure under Indian Overseas Bank Education Loan Scheme are:-

An Indian Overseas Bank education loan amount can be repaid in monthly installments for a maximum period of up to 5 to 7 years, excluding the holiday period.
  #3  
30th June 2019, 06:22 PM
shahi jee
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Default Re: Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant?

Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS, Abroad aspirant are as mentioned below:-
Indian Overseas Bank Education Loan will be repaid through monthly EMI for maximum 5 to 7 years.

Note - Holiday period will be excluded from the repayment tenure.
  #4  
1st July 2019, 01:24 AM
Incredible Chinnu
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Join Date: Apr 2019
Posts: 1,015
Default Re: Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant?

You can apply for Education loan for MBBS abroad in Indian Overseas Bank.

As per the norms of the Indian Overseas Bank there is a terms and condition that repayment of education loan.

Upto moratorium the interest rate will be simple interest and after moratorium period interest will be compound interest .

Maximum repayment of 5 to 7 years excluding holiday period .

In this way you will be repaid the monthly installment of education loan.

Interest rate will be depen on sanction limit.

Upto 4 lakh interest rate with be different when compared with up to 7.5 lakh.

There is no need of collateral security upto 7.5 lakh .

There is a interest subsidy scheme available for Education loan who family income should be less than 4 lakh.
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  #5  
1st July 2019, 01:13 PM
Parvathi90
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Join Date: Dec 2018
Posts: 4,519
Default Re: Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant?

Quote:
Originally Posted by Unregistered View Post
I just want to know that if I am going to apply an education loan from Indian Overseas Bank then what would be the repayment tenure? I actually want to apply an education loan from this Bank so that I can study MBBS in Abroad that is why I want to know about the repayment tenure.

Repayment tenure under Indian Overseas Bank education loan scheme for studying MBBS in abroad universities is given below:

Students have to repay the education loan amount in equated monthly installments (EMIs) in a maximum period of 5 to 7 years

They should start the repayment after completion of the Repayment Holiday / Moratorium Period. Repayment Holiday or Moratorium Period is 12 months after completion of the course or 6 months after getting a job whichever is earlier.
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  #6  
1st July 2019, 02:48 PM
ppsahu
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Join Date: Apr 2018
Posts: 12,628
Default Re: Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant?

Repayment tenure under Indian Overseas Bank Education Loan Scheme for MBBS-Abroad aspirant is 5 - 7 years excluding holiday /moratorium period. Moratorium period is 6 months after getting the job or 1 year after completion of the course whichever is earlier.
Students can repay the loan amount in equal monthly Instalments.

Detailed information is available on;
https://www.iob.in/Educational-loans-vidya-jyoti
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