Education and Career Forum

I have taken educational loan from IOB. I also submitted forms for claiming subsidy, stating my family's total income is less than the prescribed limit. But I haven't got any subsidy. When I contacted the bank, i, was informed that the forms produced by me for getting subsidy hadn't been processed by the person reponsible for it. What should i do now to get the subsidy?

Candidates who can satisfy following criteria are only eligible to get subsidy in Education loan Interest.

->Candidates should be enrolled in either Technical or Professional courses.
->Candidates parents annual income should not exceed Rs.4.5 lakhs.
->In case, if the student is a Girl, then there will be Interest concession at 0.50% on all Education Loans.

So, If you satisfy this criteria, try to contact the officer, who processes your application to get subsidy on Interest rate. If the officer delays your application, you should contact that bank manager and should submit a written request to process your application as soon as possible.