#1
16th February 2016, 03:51 PM
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Whether Bank insist a guarantor against failing to repay the education loan amount?
Hello Everyone,
I would like to know that if a candidate doesn't get job after completion of course, then can the bank insists for the recover of the amount from the guarantor? |
#2
18th February 2016, 03:25 AM
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Yes the bank will insist the guarantor to repay the Loan amount six months after the completion of your course.
If the Loan is more than Rs 4 lakhs then once you become a repeated defaulter then the bank can seize the collateral that has been shown. This is the rule that is followed by all the Banks. If the guarantor can repay the EMIs then it will not be a problem. |
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