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#1
29th August 2016, 05:50 PM
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What will be the interest rate for the left amount of an education loan if paid half of amount with pre payment charge?
Hello sir, I have completed LLB course and I was taken an education loan of 5 lakh from Dena Bank. The half amount was paid by my father two years before with pre payment charge now I want to pay the loan. So, please tell me the amount of interest will I have to pay on previous interest or new interest rate?
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#2
30th September 2016, 06:09 PM
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Re: What will be the interest rate for the left amount of an education loan if paid half of amount with pre payment charge?
1. You have told that half amount of education loan which you have taken to pursue Bachelor of Education has been paid by your father and half amount of education loan is left to be paid. Interest will be charged on previous rate.
2. In fact, on rest sum of education loan, bank will charge interest rate from the time your father paid half amount and upto now. You can pay rest amount in installments with interest or you have option of one time payment also. |
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