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7th August 2019, 09:43 PM
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What does Marginal Scheme mean in Allahabad Bank Education Loan? Mode of Education Loan Repayment?
Hi, I want to get an education loan of about 15 lacs to study in Canada. I want to study my MBA program there. I have searched and know well about loan rates but I am unable to know the margin given by many banks to get loan amount from Allahabad Bank. So, I want to know in what margin of loan scheme I get 15 lacs? Also I want to know about the repayment of education loan.
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3rd July 2022, 09:24 PM
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Re: What does Marginal Scheme mean in Allahabad Bank Education Loan? Mode of Education Loan Repayment?
No margin required for loan upto 4 lacs
5% margin for loans above INR 4 lacs 15% margin for loans above INR 4 lacs for abroad studies. The repayment period is upto 15 years Repayment will start after the completion of course period and moratorium period. The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installment EMI. |
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