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#1
12th August 2015, 02:22 PM
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Should I apply for Bank Education Loan of Rs. 20 Lacs to study MS in Abroad if managed Rs. 10 Lacs?
Dear Sir,
I have managed Rs. 10 Lacs for doing my MS in Abroad. But there is a lack of Rs. 20 Lacs. So, I have decided to apply for Education Loan. But I am confuse that I should apply for Rs. 30 Lacs or for Rs. 20 Lacs? Please advice me. |
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#2
24th August 2015, 08:55 AM
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Re: Should I apply for Bank Education Loan of Rs. 20 Lacs to study MS in Abroad if managed Rs. 10 Lacs?
You should apply for 20 lakhs of education loan. This is because -
1. The maximum permissible loan amount is 20 lakhs for study abroad though some banks have raised the bar to 25 lakhs recently. 2. There is no point in paying extra interest to the bank if you can manage the concerned amount. 3. There will be less pressure on you at the time of repayment and you can have savings at the time of repayment. |
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