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#1
26th December 2018, 10:33 AM
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What kind of difficulties I can face if won't pay education loan amount to SBI on time?
Hello Sir/Madam, I am a BBA(H) student and soon will join MBA course. I want to apply for an education loan in SBI. I want to know that what difficulties I can face if I won't pay loan amount on time? Kindly tell me immediately.
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#2
17th March 2019, 06:24 PM
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Re: What kind of difficulties I can face if won't pay education loan amount to SBI on time?
If you don't pay the EMI on time then it will keep on mounting and will accrue interest on interest. SBI is a PSU bank and they won't let you go easily and will recover the amount by any means. Hence, it will be better to pay the amount on time so that it doesn't pile on and increase your debt.
Banks will find a way to recover the amount and if you don't pay then your guarantor will be ok trouble too and he will be responsible to pay it back. |
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