Education and Career Forum

Sir, I have doubts regarding my education loan taken of HDFC Bank. I want to know about the interest rates. My question is, suppose I have taken education loan from HDFC Bank and did my MBA through it. Then the interest rates is calculating from when? From the day of taking education loan or after completing MBA?

Interest rate is charged under an Education Loan of HDFC Bank after the moratorium period. During moratorium period only simple interest rate is charged without repaying off the principal amount. After the moratorium period actual interest rate is charged. Moratorium period under an Education Loan of HDFC Bank is 12 months after completion of course or 6 months after getting a job, whichever is earlier.

Originally Posted by Unregistered

Sir, I have doubts regarding my education loan taken of HDFC Bank. I want to know about the interest rates. My question is, suppose I have taken education loan from HDFC Bank and did my MBA through it. Then the interest rates is calculating from when? From the day of taking education loan or after completing MBA?

In general, students have to repay the education loan after completion of the moratorium period or holiday period. They have to repay the education loan amount in Equated Monthly Installments (EMIs). They can repay the loan amount generally between 5 to 7 years or more (it varies from one bank to another). During the course period bank charges a simple interest rate on the education loan. Therefore, one can say bank charge interest from the course period itself on the education loan.