Education and Career Forum

Hello friends, I got job in Wipro after completing my BTech from Hyderabad. I got placed in Wipro and there I have got a salary account through Wipro. But, I have applied for Education Loan through my old student account of Allahabad Bank in my hometown. So, at the time of repayment I have to deposit money to my student account or they directly debit the amount from my salary account?

You need to maintain balance in the account, which is linked with your education loan, because deductions will take place from that account only. You can also pay your EMI through credit card, if you have it.

If you don't have credit card, then make sure you maintain the balance according to the EMI you have to pay. Missing any EMIs, can have bad effects on your credit score. Hence, pay them on time.