Education and Career Forum

Hello Sir/Madam, I am going to apply for an education loan in Tamilnad Mercantile Bank Limited. Please tell me about the methods of repayment as I am interested to study MS in Abroad through this education loan and I don’t know about the repayment of education loan if I take from this bank education loan.

Repayment Method:--

Applicant Course period + 1 year or 6 months after getting job whichever is earlier.

If the applicant is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extensions as may be deemed necessary to complete the course.

In case the applicant discontinues the course midway, appropriate repayment schedule will be worked out by the bank in consultation with the student / parent.

Maximum Repayment period of Loan: The loan is to be repaid in Up to 15 years after commencement of repayment.