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#1
21st October 2015, 01:46 PM
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Whether the EMI of Education Loan deducted from Salaried or Savings Account being an employee?
Hi,
I am an employee. I have both salaried as well as savings account in Axis Bank. I become a guarantor for my daughter who has taken education loan for her MBA course. Kindly tell me how the EMI will be deducted? Whether it is deducted from Salaried Account or from Savings Account? |
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#2
24th October 2015, 01:54 PM
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Re: Whether the EMI of Education Loan deducted from Salaried or Savings Account being an employee?
It is purely your choice. You can utilize your savings bank account to pay the EMI of the education loan or you can use your salary account to pay the EMI of your daughter's education loan. There is also a third option, you can just deposit the EMI amount in the loan account every month. The bank will ask for your choice, and you can opt for any one of them as per your convenience. If you have salary account in the same bank, then you can pay the EMI directly by applying for deduction from your salary account.
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