Question regarding Education Loan

[jeetmks]

Hey friends,

i want to ask u something abt education loan.

please tell me is it necessary to pay interest every month after disbursement of loan.?

like for example i have taken a loan of 6.5 lakh and i will pay fees of my second semester in november from the loan amount and that would be around 2.8 lakh.

bank told me that i have to pay the interest amt every month.

Interest rate of loan is 12%.

how much interest i need to pay every month.?

 

[lovepreet]

Hey friends,

i want to ask u something abt education loan.

please tell me is it necessary to pay interest every month after disbursement of loan.?

like for example i have taken a loan of 6.5 lakh and i will pay fees of my second semester in november from the loan amount and that would be around 2.8 lakh.

bank told me that i have to pay the interest amt every month.

Interest rate of loan is 12%.

how much interest i need to pay every month.?

Hey jeetmks

you urself said ''bank told me that i have to pay the interest amt every month'' so buddy if they are saying you gotta pay then you gotta pay it. As far as how much is concerned ''why don't you ask them''? they'll calculate and tell you.

But just for your idea if its simple interest it'll be around 1000-1500 rupees pm or maybe even less.

Hv good time in CA

 

[jeetmks]

Hey jeetmks

you urself said ''bank told me that i have to pay the interest amt every month'' so buddy if they are saying you gotta pay then you gotta pay it. As far as how much is concerned ''why don't you ask them''? they'll calculate and tell you.

But just for your idea if its simple interest it'll be around 1000-1500 rupees pm or maybe even less.

Hv good time in CA

Lovepreet,

i am just asking becoz i want to clarify this thing that is it important for everybody to pay interest who has taken education loan or the bank is just putting condition infront of me only.

 

[hardeep_chandigarh]

Jeetmks

you have to pay the simple interest every month on the amount disbursed from the loan.

Regards,
Hardeep

 

[jeetmks]

Jeetmks

you have to pay the simple interest every month on the amount disbursed from the loan.

Regards,
Hardeep

Hardeep.

u mean if am paying a fees of 2.8 lakh for next sem from 6.5 lakh then i need to pay the interest rate on 2.8 lakh?

 

[kugaa]

for student visa there are columns on the application form abt SPOUSE OR COMMON LAW PARTNER.........so wat we do with dat ? if no one is going to accompany us then i have to not do any thing with those columns or i write sumthing ? actually i made them empty coz no one is going to accompany me and im a single

 

[hardeep_chandigarh]

@jeetmks

Yes you will be paying simple interest on 2.8 lacs per month.

Regards,
Hardeep

 

[jeetmks]

@ jeetmks

Yes you will be paying simple interest on 2.8 lacs per month.

Regards,
Hardeep

Yah just confirmed from bank also.

Thanx for replying Hardeep.