Education and Career Forum

I have taken Education Loan in the year 2015-16 for 1st Year B.Tech-IT.
Shall i get Interest benefit till my course completion. Please clarify. Please provide me the complete details on this as I need to apply for the loan and I need to be sure on this.

Loan rates fluctuate according to RBI guidelines. If there is any relaxation by RBI then surely banks will give you relaxation accordingly.

There is interest subsidy also available to economically backward students who are not capable of paying loan due to less family income.

Yes, you will get interest benefit. The details are mentioned below.

- The interest will be calculated as simple interest for the entire study period.
- If you pay the interest every month, 1% of the total interest paid will be reimbursed quarterly.

No, you will not get any interest benefits. Whatever, the interest charges are to be levied on the loan amount it will be charged on the beginning of the loan amount itself.

You should apply for the loan as soon as possible if you feel like and in need of it. You will be getting some time after the completion of your course to start repaying for your loan amount, so you should try your level best in order to get a job by the end of your course.