Education and Career Forum

I just want to know that if I am going to apply a Vidya Jyoti Education Loan Scheme from Indian Overseas Bank then what would be the repayment tenure? I actually want to apply an education loan from this bank that is why I want to know about the repayment tenure.

--- Repayment of loan will be in equated monthly installments for a period of 15 years.
Co application of parents together with the tangible Collateral security of suitable value along with the assignment of future income of the student for the payment of installments.

Repayment tenure under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

1. Repayment of loan will be in equated monthly installments for a period of 15 years.

2. Co-obligation of parents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

Repayment of loan will be in equated monthly installments for a period of 15 years. Co-obligation of parents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

Normally the tenure applicable to loan is 5 to 7 years, but with number of flexible repayment options that are available applicant can also opt for longer repayment periods that can go upto 10 to 15 years.
The best repayment option is standard payment in which one makes equal monthly payments for 10 years.

The loan will be repaid over 15 years in equalized monthly installments under Indian Overseas Bank Vidya Jyoti Education Loan Scheme. For this, documents of future income of the student for payment of installments, as well as co-obligation of parents with the tangible collateral guarantor of appropriate value have to submit.

The repayment tenure under Indian Overseas Bank Vidya Jyoti Education Loan Scheme will be in equated monthly installments for a period of 15 years. The moratorium period for the repayment of the loan is the course period plus 1 year is provided. The minimum amount of loan which you can get is Rs.7.50 lakhs and the maximum loan amount which you can get is Rs.30 lakh.

Under the Indian Overseas Bank Vidya Jyoti Education Loan Scheme, the loan would be repaid over 15 years in equalized monthly installments. Documents of the student's future income for installment payments, as well as co-obligation of parents with a tangible collateral guarantor of adequate value, must be submitted.