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  #1  
24th June 2016, 04:43 AM
Unregistered
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Should I have to pay penalty after failing to pay Education Loan EMI on time?


Hello Everyone,
Can anyone of you tell me that I have to pay penalty also if I fail to give EMI of Education Loan amount on time? Can I have to pay penalty after failing EMI on time?




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  #2  
26th June 2016, 10:42 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Should I have to pay penalty after failing to pay Education Loan EMI on time?

Yes, you need to pay penalty if you are unable to pay the EMI while repaying your education loan. You will need to pay an extra amount in the upcoming month as a fine of late EMI along with the EMI of the current and upcoming month. The penalty depends on the bank from which you have opted for education loan.
Do you have any question? or have anything to say?



« How margin can be included in Education Loan of Rs. 7 Lacs in Dena Bank? | How much monthly EMI will be paid against Education Loan amount of Rs. 8.75 Lacs in Indian Overseas Bank? How many months of EMI is available in this Bank? »

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