Education and Career Forum

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 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.

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.

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.

Originally Posted by Unregistered

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.

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