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  #1  
19th April 2015, 04:43 PM
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Interest rates are charged from the beginning or at the end of the course if pursuing B.Tech through Education Loan?


Sir/Madam
I just want to know that from which
date the interest will be compounded?
From date of taking loan or after completing education?
I have taken education loan and studying B.Tech.
Please help me to know about this.




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  #2  
4th May 2015, 01:41 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Interest rates are charged from the beginning or at the end of the course if pursuing B.Tech through Education Loan?

The interest for education loan is computed as simple interest for the entire study period. It will start getting computed as compounded interest from the date you join any organization for job or six months completion after the B.Tech course whichever is earlier. The rate of interest is governed and regulated by Reserve Bank of India and fluctuates from time to time. So you need to pay the interest as per the rate of interest prevailing at that current time in the market. If you do not get job even after six months completion of B.Tech course, still you need to start repaying the loan and the interest will be computed as compound interest.
Do you have any question? or have anything to say?



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