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- čas přidán 13. 09. 2024
- This 29th episode will give you a broad idea about the education loan repayment process in India. For assistance on your education loan, request a call back @ www.wemakescho...
Our Financial officer will get back to you and assist you until the sanction. All the services offered by WeMakeScholars are free of cost as this initiative is supported by the IT Ministry, Govt. of India.
Education loan repayment is on everyone’s minds. However, very few candidates are well aware of the education loan repayment rules of different types of lenders. With this episode, we aim to provide you with the correct information about the entire student loan repayment process followed by both government banks as well as NBFCs.
The education loan repayment rules of many lenders vary depending on the nature of education loans provided by them. Both government banks and NBFCs follow different education loan repayment process. In this episode, our expert on abroad education loans has bifurcated the education loan repayment process into two different categories. One with respect to government banks and the other with respect to NBFCs. The episode covers the following talking points.
- Repayment holiday in the education loan repayment process (1:33)
- Education loan repayment policy of government banks: When to begin the repayment process? (2:24)
- Education loan repayment of NBFCs: When to begin the loan repayment process? (4:23)
- How does the exact education loan repayment process work? (6:20)
- What is the ideal tenure for education loan repayment? (6:44)
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan. The titles of our previous episodes in this series and their links are as follows:
#1. Introduction to study abroad education loan - y2u.be/-TJ0XCrL0dw
#2. Secured education loans - • Collateral #EducationL...
#3. Abroad Education Loan without collateral - • Abroad #EducationLoan ...
#4. Documents for Education loan - y2u.be/5PtpYVQ7Oo8
#5. SBI education loan for abroad studies - • #SBI Education Loan fo...
#6. SBI Education Loan- Documents, Process & Timeline - • #SBI #EducationLoan: D...
#7. Bank of Baroda Education Loan for abroad studies - • BOB Abroad Education L...
#8. Education loans from Government Banks, Issues and solutions - • #EducationLoans from G...
#9. Unsecured education loan from NBFCs - An overview - • #Unsecured #EducationL...
#10. International student loan: Prodigy finance student loan & MPower finance (Part 1) - • International #Student...
10. International student loan: Prodigy finance foreign education loan & MPower finance (Part 2) - • International Student ...
#11. Education loan for abroad: Public banks Vs. Private Banks/NBFCs -
• #EducationLoan for abr...
#12. Education loan interest rate: Simple or Compound? - • #EducationLoan #Intere...
Other episodes up to 28th one can be found in the Loanflix playlist @
• Loanflix: The most com...
By the end of this episode, you will get the complete idea of all aspects of the education loan repayment process of the various lenders in India. The next episode will tell you all about the documentation procedure for non-collateral education loans. Do not forget to subscribe to our channel so that you don’t miss out on the notifications about future Loanflix episodes.
Please subscribe to our channel for more such informative videos. Also, do like and share it with your friends. Good luck!
Script editor- Arjun R Krishna
Shot, Edited & Directed by Sreeman Reddy
About the Presenter - Damini Mahajan is a visionary entrepreneur and co-founder of WeMakeScholars.com, an education finance start-up for international education. Damini has been mentioned as "Top Women in Tech" by The Asian Entrepreneur. She has also been awarded as the winner of Silicon Valley Challenge by Action for India 2016 and was in Top 75 start-ups in the Power of ideas by Economic Times at IIM Ahmedabad.
Hi, everyone! You may watch the same topic discussed in other languages here:
Hindi - czcams.com/video/B8AhwCjhUNs/video.html
Telugu - czcams.com/video/gBc2mMWleFw/video.html
Tamil - czcams.com/video/DMuKZgHvtjE/video.html
I watched the whole series it is so useful !
Hi, Meet! Glad you found the videos useful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Can you please make a video on how EMI is calculated? And is it reducing balance( interest is calculated only on the remaining balance amount) method? And tips and strategies to reduce the interest we pay especially for SBI
Hello Prajwal! Great ideas... We will work on them! Meanwhile you can ask our loan team to explain the above points to you. They will be able to guide you : bit.ly/education-loan
Even I am searching that.if the interest is calculated on the remaining remaining balance???pls help if you got this answered!!
What if I'm going for a 1 year course in Canada and then I'll enroll for another 1 year course from there only. Will I get a loan for single year and my interest payment will start after 1 year?
Hi, Shivam! It is better to opt for a two year course. However, if your offer letter says one year, then we can help you with a loan for only one year. It can be extended later. You may watch this video for more details: czcams.com/video/4hC_9-TdQVg/video.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hello ma'am.
Could you please tell me the collateral requirements for taking a education loan.
Hi Vishal, it is a very detailed question which you have asked. There are more than 100 parameters we have to analyse to see if your collateral is acceptable. May be you could watch this video I have made on collateral documents required- czcams.com/video/5PtpYVQ7Oo8/video.html
Or better I suggest you to request a callback on this link: bit.ly/education-loan . Once we get your request, the respective financial officer for your region will call you to help you further.
Excellent way of simplifying issues, mam thanks.
I have query mam,
Do the government banks avail education loan for studying abroad if the applicant already has a personal loan ( 50k) and product loan ( 30 k ) in NBFC s.
But with good CIBIL score.
Hi, Abhijit! You can get an education loan, but you would have to pay off the other loan amounts. You can connect to our loan team by clicking on the following link: bit.ly/education-loan Request a callback and they will help you out!
Money will give to our hand or directly to collage
Directly to college
Hi, Chinthala! The tuition fee will be transferred to the university directly. Living expenses can be given to you through a Forex card or as GIC/Blocked Account depending on the country. For further details, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan
Thanks for the video mam.
Can we have any interest subsidy under CSIS scheme?
If you know something about it can you make a video on this?
Hello Arvind, we have already covered this topic in a previous video. Here it is: czcams.com/video/EVDN0RvPF30/video.html Hope you find it helpful! For any additional queries about the Subsidy scheme, you can always speak to our loan team here: bit.ly/education-loan
Can I pay the interest during my education for public banks as well, if I want to ?
Hi! Yes, you can pay the interest during the couse duration, if you want to. For further guidance on repayment terms of an education loan, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you within 24 hours.
I have taken loan 8 years ago in Garmin Bank.....still didn't done any repayment...i am SC cast....some friends, relatives telling education loan will be waved off for SC ST students.....Now my loan amount goes to 2.5 times...what should I do..
Hello Sunil, as we do not work process education loans for Study in India cases, I do not have the expertise to guide them... It is best if you can visit them and get some clarity...
Yes for SC & ST the loan is waived off but only with terms and conditions. After every 3 or 4 years the Govt used to publish this, to fill a form. But I haven't heard anything with the current Govt.
Mam very greatful video .
I have some of doubts regarding loan
How can I clear
Hi, Rahul! You may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Mam no one in my family has a bank account in SBI... But im interested in Taking loan from sbi..... Will i get loan from sbi as an outsider ..?? Plz reply and help me mam ??
Hi! Yes, you do not require a prior account to apply for a loan in SBI. Please fill up the application form on this link: www.sbieducationloan.co.in/ The Loan Team will contact you to guide you further.
Do we have any new notice from RBI regarding fixed rate of interest (around 10%) for education loan ???
Hi Avinash! Yes, there have been some changes recently in the rates of interest for all banks. Kindly get in touch with our Loan Team. They will explain the changes to you in greater detail. bit.ly/education-loan
Thank you so much mam. A genuine information..
Hi, Punit! Glad you found the information helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thanks a lot... your videos are very informative
Hi, Varun! Glad the videos are helping you! If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thank q very much madam it was very useful 👍
Hi, Adithya! Glad you found the video useful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
These informations really helped me learn something 😊
Hi, Bibhuti! That's great! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
That's great.... thanks for your support mam😊
what if we take some disbursement..and then immediately pay it to the bank.....will bank accept it? will any interest be charged? will it be deducted from outstanding principal? ....
Hi! No, you can't pay off your disbursed amount immediately. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam.. repayment of education loan starts after the completion of course period plus mortarium period... Is interest chargeability also starts from course period plus mortarium period??? Means no interest is levied during the course period??
Hi, Vikash! It depends on the type of loan. If you have taken a secured loan from a government bank, you will not have to pay interest during the moratorium period (course duration + 6 months/1 year). The interest accumulates and you can pay after the moratorium period. If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. The principal can be repaid after the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hello Ma'am,
Thank you for your informative videos.
I took a loan of 12 lakhs from a nationalised bank 3 years ago. The first disbursement was around 5.5 lakhs. I did not avail any other disbursements later. Now the bank is asking me to pay an EMI of 30000 (5-year tenure). Shouldn't I be charged for the disbursed amount? and what happens to the amount that I did not use from the loan account?
Thanks
Hi, Aniket! Yes, interest is only charged on the disbursed amount and not on the unused amount. Please contact your bank branch. They will break it down for you.
Did they charge processing fees from u ?
If I unable to pay loan ??
Loan is attached with co applicant ...
I think they made me fill ECS/ auto debit form with co applicant bank details ...will they going to deduct from co applicant account?
Hi, Adil! In case you are not able to repay the loan, it will be deducted from the co-applicant's account. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Maim kya aap bata skte hain ki tenure in month matlab kya hota hain. Maine boi se loan liya tha but ab mera education comp hogya hain to me thoda confuse hu mujhe smjh nh aa raha can you make me understand.
Hi! The loan tenure is the period of time that it will take for you to repay the loan. Please contact your bank. They will guide you on this.
@@WeMakeScholars thanks🙏
Is there any lock in period where even if we want to pay the entire loan amount at one go, we can't do it? Please make a video on this as well. Thank you.
Hi, Varun! You can repay your loan in one go if you are able to. Please watch this video which explains this: czcams.com/video/leGAbV1P0yg/video.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
@@WeMakeScholars Thank you. Appreciate your response. :)
In every video u explain well enough to clear out whatever we have in our mind....really it's superb....n ovbiously i'll took your help one day
Hi, Anuran! Thanks for appreciating our efforts! Glad you're finding the videos helpful. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you within 24 hours.
Very useful video for us mam.
Hi, Kiran! Glad you found the video useful! If you haven't yet gotten in touch with WeMakeScholars, you can do so by requesting a callback on this link: bit.ly/education-loan
Mam when interest is started on education loan
After completion of our course i have doubt on this topic please please clear my doubt as soon mam
Hi Mohammed! If you're taking an education loan form a public bank you are not required to pay interest during moratorium period (Course duration + 6 Months) But private banks may ask you to pay full/partial simple interest depending on the course and your profile, If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Such an informative video😃
Hi Shivani, Glad that you found the video informative. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Very useful video mam❤️
Hi, Abhishek! Glad you found the video useful! If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thank you ma'am, I want to know what is the moratorium period for Undergraduate diploma course in private and public banks? Because HDFC credila told me that they don't give any moratorium period for Undergraduate courses and EMIs will start from the very next month
Hi Sarthak! Moratorium period in government bank is Course duration+6months which can be extendable up to 1 year and with private lenders it is course duration+6months. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Please explain abourt part payment policy of Auxilo education loan.
Hi, here are a few important things to note: Some lenders may require a minimum sum for each extra payment you make and lenders may allow extra payments regularly or whenever you have spare cash, depending on their policy. Additionally, Keep in mind that certain lenders might levy a small fee for processing these additional payments. Check your loan agreement for any associated charges. If you require one-on-one assistance, our team is readily available to provide assistance on it, you can request a call back: bit.ly/48cTdcR. The team will connect and help you with the loan process. Best of luck:)
Are nationalised banks providing online pre payment or part payment facility of education loan? And if yes what is the procedure to pay?
Hello Shashank, pre closure of loan account by paying off the loan before hand is possible. Most of the banks do not have preclosure charges. You can find out about the procedure and other details by speaking to our loan team here: bit.ly/education-loan
@@WeMakeScholars I think the key word here is Online ( Through net banking or App), Are banks like canara bank providing online part payment of education loan?
I asked a sbi employ he said i have pay the intrest from the start i.e when i will be studying
Hi Kuldeep, that is the problem if you apply directly to the branch. Pls drop an application via WeMakeScholars and our team will speak with the concerned authorities at the branch and get the work done for you easily. Else, you will have to convince them by arguing, which can be avoided. Apply @ sbieducationloan.wemakescholars.com/
Ma'am main vit me admission Lena chahta hun
20 lakh tk ka loan chahiye
Aur main Bihar se hun
To kya main 4 lakh students credit card aur 16 lakh bank se le skta hun??
2 alag alag jagah se loan mil skta h
Ya 1 hi jagah se loan Lena hoga
Hi Aryan! You cannot take multiple education loan for a single course. For further guidance connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Hi mam. Through we make scholars can we request the NBFC's to convert the full interest payment to partial interest payment for the moratorium period?
Hi Jerison, If you have applied via WeMakeScholars, then most probably we can get it done for you until unless there are some serious setbacks in the profile. But if you have already applied to these NBFCs on your own, then it might be little more challenging but still possible. Please get in touch with our team ASAP, by requesting a callback on this link: bit.ly/education-loan . I'll see what best can be done.
Thanks ma’am. I have a question. First of all I have only seen this video of yours so I am not sure if you have already discussed the topic which I am going to ask. My question is can we start repayment while we are in the moratorium period and is it benificial to do that. For example if I have borrowed 15 lac against an interest rate of 12.75%. Will paying a lump sum amount of 7 lac at the end of the first year be benificial (i.e while course of studying still going on). Will paying a amount up front reduce my interest amount or my principal amount?
Hi, Derrick! Yes, you can start repayment in the moratorium period. It will not reduce your principal amount but it will reduce the accumulated interest. For further guidance, you may speak to our loan team by requesting a callback on this link: bit.ly/education-loan
Hello Ma'am ...is there any requirement of admission letter of course we choose for abroad education to get loan?
Yes definitely you have to submit
Hello Roshani, in normal procedure the loan process cannot start until you have an offer letter from atleast one university. The university name can be changed at a later point. There are some universities that ask for the loan letter even before the offer letter is issued. In such cases, the bank will need atleast a conditional offer letter to start the process. Our loan team will be happy to help you out if you can mention which university you are aspiring for... bit.ly/education-loan
@@WeMakeScholars thank you so much...🤗🤗
Hello mam, I was taken 1.5 lakh of loan from sbi for education , from the date of approval my loan amount is started with applying interest. i.e. 10.15% for each yr of education. Now I hav started the repayment knowing , interest should not be applied while study period. Is it ture that interest was incorrectly applied or it is usual?
Hi, Shyam! During the time of the moratorium period, the simple interest will just be calculated and after the moratorium period, you need to pay the compound interest.
I have a question here can you explain giving example of two cases with loan amount 5lakh and tenure 7years. In first case no repayment is made in morotorium period.
In 2nd case 5000Rs per month is payed in morotorium period. What will be total interest difference . I want to understand the calculation
Hi Muzzamil! For Example, if you are taking a 5 lakhs loan and decided not to pay any simple interest (note that no payment moratorium period is only with public banks and interest in private I considered 8.5%) The interest that you will be paying over here is 2,67,074
If you are paying partial simple interest of Rs.5000 per month (note that you pay partial interest with some private lenders and their interest will be starting from 11% so considered the same here) The interest that you will be paying over here is 2,75,637 as it will be an unsecured loan
If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam I am trying to get into contact with wemakescholars team I also requested a call back but nobody has reached me yet!!!!
Hello! Our loan officer Venkateshwaran will contact you today. We could not contact you earlier as we do not work on Sundays and 2nd and 4th Saturdays.
@@WeMakeScholarsthank you!
Thank you so much for the info it's really very helpful....and you are beautiful
Hi, Charan! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam we took education loan on November last year, now we want to repay the loan fully. We took loan from NBFC.. Our holiday period is untill the mid of 2023. Is our repayment considered as foreclosure?
Hi Pradeep! Yes, you can close it. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Please make a video on preclosure of education loans
Hi, Puja! You may watch this video which discusses the same: czcams.com/video/leGAbV1P0yg/video.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thanks mdm
Hi, Santosh! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Ma'am, can I take an unsecured loan from SBI or a govt bank... I don't have any collateral to take a secured loan...
Hi! Government banks can offer you an unsecured loan of up to 7.5 lakhs only. Private lenders can lend higher amounts. We would have to evaluate your profile to determine which options would be best for you. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Sbi is asking me to pay interest during my course period what should I do
.. should it happen or is there a process to avoid it
Hi! You're not required to pay interest during your mortarium period (Course duration + 6 months/1 year). The interest accumulates and you can pay after the moratorium period.
Hello ma'am
I had take education loan in year 2018 from bank of baroda of 8lakh for dental surgery course and duration of course was 4yr +1 year compulsory rotating internship I am still in internship period my emi has started of 25,000/- I can only apply for job after getting competing my internship. My family financial situation is not well after pendimic. My tenure period can be increased or not?? Plz reply
Hi Prinshu! You are not required to pay any interest during the moratorium period, which is course duration + 6 months which can be extended up to 1 year. If your education loan was sanctioned via WeMakeScholars, Feel free to revert us, we would be happy to help.
How do we calculate the interest amount incurred during the study period from a govt. Bank ?
Hi, Parth! You may watch this video on how to accurately calculate EMI for an education loan: czcams.com/video/jcl5wMoeBKk/video.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam I want to know, is in the loan also included the residency expenditures during course period
Hi Omika! Yes, you can even include your living expenses in your loan amount and our team can help you out with the same. Please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Hello mam...nice informative video...if i submitted full principal + interest amount before start of monatorium period..will i get any discount ? Or what document i asked to bank so that i get clear that i will have no issue regarding interest or loan account ?
Hi, Yogesh! No, you will not get any discount. You can get a No Dues Certificate from the bank. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
In education loan for indian education Can you please tell me after Monitorium period the emi amount is including with interest+principal
Hi Rahul! You may use this calculator for the same: www.wemakescholars.com/education-loan-emi-calculator. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
For insecured loan during study I should pay any interest rate or not??
Hi, Khushi! If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Does the interest accumulates during the moratorium period ??
Hi Aman, yes. Whatever is the unpaid portion of interest incurred during moratorium period, it is accumulated. Just that in public banks, it is simple interest whereas in private banks and NBFCs, it is compound interest. If you need help with the education loan process, you can get in touch with our team by requesting a callback on this link: bit.ly/education-loan
Ohk got it !! Thank you for resolving my query so fast🙂
Nicely explained thanks
Mam may I know as to how much will b an EMI on Rs 100000 loan amt for 10 yrs@ 8.35 interest rate taken from SBI schlor loan
Hi, Bramhanand! You can use our Education Loan EMI Calculator here: www.wemakescholars.com/education-loan-emi-calculator
Very nice
Hi, Rajdip! Glad you liked the video! If you need help with your education loan, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan
How will I know on which particular date the bank will start debiting the amount?.....for the 1st time
Hi, Sanket! You will have to start repayment once the moratorium period is over (course duration + 6 months/1 year). If you have taken a loan from a government bank, you will not have to pay interest during the moratorium period. The interest accumulates and you can pay after the moratorium period. If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
I have doubt that during moratorium period the interest on principal amount gets accumulated for lets say i don't pay for 5 years and then after the EMI is calculated on total amount(principal + interest that accumulated over 5 years). Am i right?
Hi Tushar! Yes, if you opt to not pay the interest during moratorium period then your EMIs will be calculated on the principal amount and interest accumulated in the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/3KLb0zu
Hi ma'am, i have borrowed loan from canara bank of Rs. 20000. Moratorium period is still for 2 years. In loan details i can see 2 details.
1. Loan outstanding Rs. 230000
2. Loan outstanding Rs. 199000
(Interest payable for the period Rs. 0)
Now if I repay the loan amount during the moratorium period, i should pay Rs. 230000 or Rs. 199000
Hello Akash, Please note that if you are paying back the loan during the moratorium period you may have to pay some prepayment charges. Kindly contact your bank for your details. Here is a reference video about the prepayment: czcams.com/video/r68Bgy5hEHE/video.htmlsi=pCVg-2xFP-0pBAYp it will give much clarity.
Do SBI provides subsidies for education loan repayment??Kindly discuss process and amount of reimbursement provided by SBI on an education loan of ₹4 lakh
Hi, Shubham! You may watch this video on education loan interest subsidy: czcams.com/video/EVDN0RvPF30/video.html
Hi
Actually I want to know the process of education loan and I’m from taluka so it is possible to get loan.
Hi, Mohd Mustafa! As the initiative is funded and supported by the Digital India Campaign, the mode of operations are digitally aiming to reach students from every corner of the country. You may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once we get your request, the respective Financial Officer for your region will call you to help you further.
Hello ma'am, could you tell me that how to file a complaint in RBI regarding subsidy problem....
Hi, Prateek! Please approach the bank where you took the loan from. They will assist you with this.
I got disbursement from sbi 15 days ago on 14th January and today I received a message that i have EMI due for my loan account I don't understand what to do please help me
Hi RK Patil, Did you report this to your financial officer at WeMakeScholars? If not, do this at the earliest. We might be able to help you on this. Please get in touch with our team by requesting a callback on this link: bit.ly/education-loan
If we take a unsecured loan of say 30lacs for MBBS in abroad from NBFC or Private Banks, the how much simple interest per month we need to pay during the course period of 6years?
Hi, Adityaa! Unsecured loans from private banks/NBFCs for MBBS are difficult. Secured loans from government banks are a better option for this and you will not have to pay interest during the moratorium period. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Please answer
is sbi Rinn insurance compulsory for loan below 7 lakh in SBI student loan.?
Hi, Tejas! No, it is not compulsory. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
After taking education loan I May be completed my course in two or 3 years. But if I don't get govt jobs during repayment period then how can I repay the loan for bank?
Hi, Tebith! You will have to start repayment after the moratorium period (course duration + 6 months/1 year). Please watch this video on What happens if you do not payback your Education Loan: czcams.com/video/fD0oYsFL99w/video.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thank you so much 🥰
Hi, Sandra! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Can i repay principle amount after disbursement of edn loan of govt bank?
Hi Maloy! You can repay your loan early but you will be required to keep the funds with you in your moratorium period ( Course duration + 6 months ). If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/3KLb0zu
How can apply for increase in moratorium period after 4 year graduation for 2 year master course ???
Hi! If you have not started repaying the loan, you can apply for an extension of the moratorium period. The moratorium period of the first loan will be extended and merged with the moratorium of the second loan. However, if you have started the loan repayment, you'll have to finish repaying the bachelor's loan before applying for a loan for your Master's. Our team can help you out with this. You can connect to them by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you within 24 hours.
I'm not interested in second loan as of I qualified gate so I can manage my expenses over stipend !
So what is the way for it ??
@@EDUTAINMENTPratik If you are not planning to take a second education loan for your Master's, then you will have to begin the repayment on the scheduled date once your moratorium period gets over.
At the time of education loan closing,What is the procedure and any paperwork or documents from the bank provide to me for the proof of closing?
Hi! It varies from lender to lender. You will have to get the loan account closed and you may obtain a No Dues Certificate. Please contact your lender for guidance on the same.
Mam you said gov banks allow 0 interest in monotorim period ....so doesn't it makes more burden on student because he/she have to pay that amount ultimately at the end ?
Hi, Saurav! If a student does not have a job during the moratorium period, it is difficult to pay interest. However, if you are able to, you can choose to pay the interest during the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam i have a question. Private bank start taking interest from which date and amount.
From the date when they give the amount or when they finish the amount to give.
Hi Adil! If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
can you pleasw tell which bank provides education loan for abroad education at lowest interest rate and best service??
Hi, Chamanthi! We would have to evaluate your profile to determine the best loan options for you. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Mam, I have HDFC bank account, and i took education loan from SBI, now i have to repay the monthly loan emi, so how can i pay that amount from my HDFC bank Online? Please help me
Hi, Subhadip! Please contact your branch manager. They will guide you on the exact procedure.
Mam
In education loan when does bank starts charging interest , from the day i take the loan or after the moratorium period ends.
Hi, Raj! It depends on the type of loan. If you have taken a secured loan from a government bank, you will not have to pay interest during the moratorium period (course duration + 6 months/1 year). The interest accumulates and you can pay after the moratorium period. If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Will they transfer the whole money to the account.. Means while loan money??
Hi! The tuition fee is transferred to the university directly while living expenses can be transferred to your bank account. You may watch this video of further details: czcams.com/video/pATtwCjvNNc/video.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thanks mam
Hi, Sachin! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
I have taken education loan from Oriental Bank of Commerce (Now Punjab National Bank) . I don't want to pay in EMI . Can I repay the total existing loan amount all at once with interest ? Please let me know the possibilities
Hi, Dhananjay! Yes, you can.
My course is 6 yrs if i take loan in private bank how many years wil be given to me to pay back the amount as EMIs ?
Hi Charan, It depends on your profile, as per the general norms, not more than 6 yrs, but if you are really needing more time, we can negotiate with the bank on the policies. For more information, please get in touch with our team by requesting a callback on this link: bit.ly/education-loan
A friend of mine had availed for education loan during Engineering and now is doing job.... repayment of the loan has started .... however we have come across that on the Canara Bank Portal for Loan Susidy Enquiry when we enter details of Loan account and Bank name (UCO bank) we can see details of the Loan and net subsidy Amount on the portal.
Based on this we have following questions:
1. If Details are visible on Canara Bank Subsidy Enquiry portal then does that mean, Education loan subsidy was applied for earlier ? (We are not sure if earlier required documents for subsidy applications had been submitted however we can see details on Canara Bank Subsidy Enquire Portal)
2. Assuming Candidate had applied for subsidy earlier itself, but Candidate hasnt received the subsidy, so to where to check for follow up of the samw ?
3.
Loan was applied in 2015
Documents uploaded to Subsidy Portal in 2018
Repayment of Loan started in 2020
Can the Candidate apply for loan subsidy now if earlier subsidy had not been applied for ? (Candidate has applied and received the income certificate )
Hi, Sanat! You may approach the bank you took the loan from to follow up and check on the subsidy. You have to apply for subsidy within 1 year of loan approval. You can't apply after that.
What happened in visa refusal case ? I mean how can I repay my education loan ?
Hi! You may go through this video which discuses the same : czcams.com/video/UDQXcVUe-zU/video.html. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam Psu banks se non colleteral loan lene pe bhi monatory period me bhi interest pay krna hota h ?
Hi, Varun! If you take a loan from a government bank, you will not have to pay interest during the moratorium period. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Mam..what is part period interest? And whether we need to pay the part period interest?
I guess you are seeing your loan account statement and confused by seeing a Part period interest which is being added to your outstanding principal. Please note that if it is a govt bank then you need not pay this part period interest. It is reflecting on your loan account statement because you should know how much interest is being accrued.
1)In NBFS, Is ROI calculated after the end of partial payment period? suppose my course is of 2years and am paying partial ROI for 3 years and after that making repayment within 7 years. I am confused if ROI is applicable within this 7year (tenure after the completion of partial payment)
2) Do they only sanction University fees of 1year if course is of 2 years ?(as am enrolled for a year now)
Hi Girgilani! Interest will be charged on the amount you are disbursing from the loan but during the moratorium period i.e. Course duration plus 6 months but you will be paying the partial amount of interest that is charged by the lender then after you will be paying EMI's that is repayment of the loan starts after the moratorium period. They sanction your loan based on the admit letter that is provided by the college. For further guidance on the same please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
If I pay more amount than interest in moratorium period, can you reduce the principal amount.......
Hi Gobikrishnan! Yes, If you pay an amount more than the interest incurred in the moratorium period itself you can reduce the principal amount and your repayment can be done faster. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Greetings Mam,
Thanks for the informative video.
May I have a few queries. I have a Car Loan with HDFC currently. I wish to take an edu loan for a 2 year Diploma Program in Canada with collateral. Will I face hurdles in the loan process?
Thanks in Advance!
Hi, Jomathews! As long as the loan is being repaid on time and your CIBIL score is good, it won't be an issue. To get guidance on your loan process from our loan team, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hello ma'am,
I have taken an education loan for my UG course and now I am studying in 2nd year.What if the moratorium period is over and I want to study PG.So it is possible to take loan again in this situation,please help me.
Thank you so much in advance!😊
Hi, Vivek! You can take an education loan for your Master's. But make sure to get the master's loan approved before initiating repayment of the existing loan. This way the repayment of your bachelor's loan will be deferred by the bank and it will get aligned to your Master's loan. You may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Is any bank offer diminishing interest rate
Hi, Anson! Government banks charge simple interest during the moratorium period and compound interest after the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thank you madam.
Hi, Tapas! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hey, thanks for valuable information.
I have a query regarding the education loan, suppose the course duration is 2 years demanding 3L, and we wish to take exact amount of loan from SBI and wish to playback the interest amount during the course period only.
Rest I'd like to pay after the completion of course, is it possible?
What should be my approach.
Hi! Yes, government banks do not require you to repay the loan during the moratorium period. You can repay after the moratorium period. However, we would not be able to help you with a loan of 3 lakhs. You may approach the bank directly for this.
Need a call back..
Hi, Rachit! Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
I took 8 lakhs from Sbi on global edvantage scheme this month. And not intending to take more amount from loan.
My course period is 2 years. Can I repay the full amount and close the loan within moratorium period? Or we could only repay as per the repayment agreement ? If I can repay the 8 laks within moratorium period, do I need to pay any interest?
Hi! Yes, you can repay the amount earlier. Interest accrued up to that date will have to be paid.
Hello Mam,
Regarding CSIS subsidy.
If I start repaying my education loan after moratorium period, will i get the CSIS subsidy for portion of moratorium period because usually it takes 1-2 years to get credited to my loan account..
Thank u in advance
Hi! Yes, if you had applied for the subsidy already then even if you start repayment, subsidy will be given to you. But just telling you again, subsidy is only given for the moratorium period.
Hi just curious to know if candidate has started loan repayment after education monatorium then will the candidate be eligible to apply for subsidy under CSIS ... assuming candidate satisfies all other criterias under CSIS
@@sanatparalkar8142 Hi, Sanat! You have to apply for subsidy within 1 year of loan approval. You can't apply after that.
Thanks a lot mam
Hi, Pramod! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hello mam,
I took an education loan for my ug. And now the moratorium period is over and I want to study pg. So is it possible to take a top-up loan in this situation.
Bank - Punjab National Bank
Hi, Ganga! You can take an education loan for your Master's. But make sure to get the Master's loan approved before initiating repayment of the existing loan. This way the repayment of the bachelor's loan will be deferred by the bank and it will get aligned to your Master's loan. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
i also want to take loan from pnb is this good bank for for our convenience or not ?
is there interest on the interest of education loan ? or not ?
suppose i took 1 lakh for 1 year, After a month, 1,00,000 will become Rs 1,01,000 rs, so now they will consider 1,01,000 as a principal amount for that month, or considered loan amount those i took 1,00,000.
Please reply i'm in trouble.
Hello Ma'am, for national banks can we reduce the repayment duration at the point where loan has been disbursed and moratorium period ends. For example, an education loan taken of amount 5 lakhs for 10 years. After moratorium period end, can we reduce 10 years repayment period to 5 years? Regards
Hi Vivek, loan amount can be repaid anytime after 6 months of taking disbursement. If you repay the loan amount before 6 months of taking disbursement then prepayment penalty will be added.
Mam moratorium period ka bhi interest Dena padta hai kya
Hi, Aman! It depends on the type of loan. If you have taken a secured loan from a government bank, you will not have to pay interest during the moratorium period (course duration + 6 months/1 year). The interest accumulates and you can pay after the moratorium period. If you take an unsecured loan from a private bank/NBFC, you will have to make either full or partial interest payments even during the moratorium period. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam....loan repayment ka amount jo 10 years me dena hota hai wo apn 1,2 years me de skte hai kya
Hi, Shivank! Yes, that is possible. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
can we pay the full education loan before the moratorium period?
Hi Ranjith! Yes, You can repay your total loan amount before your moratorium period ends. But there is a lock in period of 6 months incase if you are getting an education loan sanction from some of the private lenders. For further one-on-one guidance with your education loan process get in touch with our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
What is int. to be paid in canara bank loan details?
Is it the interest, it shows more than my overall principal...
Can you clarify not that
Hi Divyashree!The education loan product of Canara Bank is not very competitive compared to the other options in the market. I think it will be a better idea to speak to your financial officer by requesting a callback on this link: bit.ly/education-loan to see which bank will offer you the best terms
Mam SBI did not claim subsidy for the course+1 year moratorium period, and I was unemployed at that time.
What should I do??
Please suggest, should I approach ombudsman ??
Hi! You have to apply for subsidy within 1 year of loan approval. You can't apply after that.
@@WeMakeScholars it is applied by the bank, right?
We dont have access to the portal!
@@niftybankniftyfno6379 Yes, please contact the bank directly.
All rules also on unsecured loan??
Hi, Khushi! Yes, they apply to unsecured loans as well. The video has been divided based on type of lender. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan