[www.keralites.net] Education Loan - Interest

Dear All

Interest has to paid as per banking rates. In banking language it is called Prime lending rate (PLR)

In most cases student loan is same as PLR of the bank
In some banks it is 1% more than PLR

They only advantage of education loan is, we dont need collateral guarantee up to 4,00,000

Loan can be repaid after completion of studies or after on year of completiong studied

Interest will start the moment loan sanctioned

It is not difficult to get bank loan , specially for professional courses

Regard
www.welfare.org.in

On Sat, 31 Jul 2010 03:48:20 +0530 wrote

Dear All

Reg. Education Loan - Interest

Understand from Bank of India that we have to pay interest for the education loan. But Govt. says we need NOT pay. Is any body can clear my doubt.

Annamalai

Assuring you spirit of friendship, understanding, and cooperation always.

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www.keralites.net

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