Education and Career Forum

Hello Everyone,
I have got a job in Paris after completing MS here. I have taken Education Loan from SBI Bank. I have got on placement job. So, I have to inform the bank about my placement? And from when they will start to take back their money?

Yes, you need to inform the bank of your job. The bank will officially start your repayment of education loan after six months of your completion of your study course. Since you have got a job before the six months completion, you need to inform the bank of the same to start your repayment. Once you join your job, you need to write an application to the bank concerning the same giving details of the employer and requesting to start the repayment. The bank will give you a certain EMI amount which you need to pay every month to complete your repayment. You can also repay the loan by depositing lumpsum amount.