Education and Career Forum

Friends, I want to take loan of Rs.10 Lacs for my MBA course from South Indian Bank. I want to know the mode of repayment in details so that I can calculate my EMI. Please tell me immediately.

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Friends, I want to take loan of Rs.10 Lacs for my MBA course from South Indian Bank. I want to know the mode of repayment in details so that I can calculate my EMI. Please tell me immediately.

SIB Vitjnan Pradhan Scheme is a type of education loan in South Indian Bank which provides loan to students to pursue their UG/PG courses.

Loan repayment period is maximum 15 years for Rs.10 Lac amount.

Mode of loan repayment will be in EMI basis or you can also pre-close the loan.

EMI is based on your no. of repayment years, rate of interest and capital amount.

Rate of Interest:

• Marginal Cost of funds based Lending rate (MCLR) +2.5% (or)
• Marginal Cost of funds based Lending rate (MCLR) +3.5%

Simple Interest will be charged during moratorium

Moratorium period will be course period plus 1 year Visit this website https://www.southindianbank.com/cont...dhan-scheme/92 for eligibility and required documents needed for the loan.