Education and Career Forum
Ask a Question Discussions Question PapersGovernment Jobs Ask a Question Papers Login Register
  #1  
6th May 2015, 02:18 AM
Unregistered
Guest
  
Posts: n/a

What are the actions taken by Bank against me if failing to repay Education Loan?


Sir,
I have applied for Bank Education Loan
and studying MBA in Hotel Management
through Education Loan. I would like
to know that if I can't get job then
what action Bank will take?




Related Questions:
  1. How can I get Bank Education Loan of Rs. 16 Lacs to study MS in UK? Can I repay Loan after getting job? Do I have to Mortgage the property to apply for Bank Education Loan?
  2. How can I get Bank Education Loan with low interest rate to study MBBS in Russia? Mode of repayment?
  3. If a person joins Defence Services he is not required to repay Education Loan?
  4. Bank Education Loan scheme of SBI, Bank of India and Bank of Baroda to study MBBS course of Rs. 350000 p.a. fee expense?
  5. How can I reach good destination if can't afford money for studies?
  6. Is a person's blood relation joins in Defence service then it not required to repay back the education loan?
  7. What to do if Bank says that they do not provide loan?
  8. Financial assistance to complete BE course?
  9. How much subsidy I will get if taken Education Loan of Rs. 3.4 Lacs?
  10. How to get education loan? From which bank at lowest interest? Minimum salary of parents required for loan? -- [Most Discussed]
  11. Eligibility to apply for Bank Education Loan to study MS in UK and US?
  12. How can I get Bank Education Loan to study B.Tech?
  13. Will I be able to repay my loan after MBBS?
  14. How much loan amount is allotted as per the tuition fees? Providing securities for that amount is neessary?
  15. If I pass automobile engineering here in India will I get job in Italy? Can I repay bank loan directly from Italy?
  16. Interest rates charges against Education Loan by Andhra Bank for B.Tech course? Documents required to apply for Education Loan?
  17. Am I eligible to get education loan having 50% in intermediate? Which bank will provide me loan?
  18. Education Loan scheme of Bank of Baroda to study B.Tech course?
  #2  
13th May 2015, 02:32 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: What are the actions taken by Bank against me if failing to repay Education Loan?

Bank can take various actions if you fail to repay the education loan.

- First of all, it will ask the co-borrower to repay the loan.
- Then it will contact the guarantor for repayment of loan.
- Still if the loan is not recovered, it will lodge a complaint in your name in the accounts of RBI by which you or your co-borrower will never get any loan from any bank for any purpose in future.
- It can also take legal action by filing a case against you in court.
Do you have any question? or have anything to say?



« Can I apply for Bank Education Loan if pursuing MBBS 1st year? | Total fee structure for 4 years B.Tech including hostel fee, mess fee and registration fee? Whether bank will reimburse the total fee? »

Related Topics:

Thread Replies Last Post
How should I apply for CBSE scholarship after scoring 83.4%? Is it true that I wont be able to apply for any other scholarship after applying for the CBSE scholarship? 29 11th September 2017 12:00 AM


Ask a Question - Contact Us - Entrance Exams - Privacy Policy - Archive - Top

Powered by vBulletin® Version 3.8.3
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.0
vBulletin Optimisation by vB Optimise.
Please also check: