|
#1
25th September 2016, 01:41 PM
|
|||
|
|||
What penalty is imposed if interest is not paid on time under State Bank of Travancore Education Loan scheme?
I am going to apply for an Education Loan in State Bank of Travancore. I have already get the information from the Bank Manager about the loan scheme but forgot to get details of the penalty. So, I want to know what penalty is there if interest is not submitted on time?
|
|
#2
26th September 2016, 09:25 AM
|
|||
|
|||
Re: What penalty is imposed if interest is not paid on time under State Bank of Travancore Education Loan scheme?
The penalty which is charged by State Bank of Travancore for not being able to pay interest on time is - there will be a hike of 0.5℅ of rate of interest for the outstanding loan amount. This means you need to pay 0.5℅ higher rate of interest while repaying the outstanding loan amount. If there are multiple failure to repay the loan amount, then the bank can seek legal help.
|
Related Topics: |
||
| Thread | Replies | Last Post |
| Is it necessary to submit the original property papers to take an Education Loan? | 4 | 22nd January 2018 12:08 AM |
| Can I get an Education Loan of Rs. 20 Lacs against Land agreement papers as a Collateral Security? What is the minimum value of land for this Loan? | 1 | 22nd April 2016 12:42 PM |
| Documents required to submit for Bank Education Loan to study MBBS? At what time I have to submit? | 1 | 25th October 2015 07:59 PM |
| How can I submit if my Land agreement papers were burnt to apply for Bank Education Loan? | 0 | 17th September 2015 07:38 PM |
|
|
Education and Career Forum
