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loan payment schedule


Loan Faqs
Faq

What is an amortization schedule? :

 An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the breakup of every EMI towards repayment interest and outstanding principal of your loan.
Faq

How to get a Personal Loan Fast? :

• Better Interest rate: Getting a personal loan is cheaper than borrowing on your credit card. So, if you have run up a huge outstanding amount on your credit card and the accumulated interest is making it almost impossible to clear your outstanding, a personal loan might be the way to...
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Would the loan be disbursed in favor of the Institute ? :

Yes. Tuition & hostel fee will be disbursed directly to the educational Institute as per the schedule of fee given by the Institute/college ( semester - wise/yearly).
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What would be the tenure of the loan ? :

Maximum tenure of the loan can be 7 years including moratorium period.
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What is the maximum tenure of a personal loan? :

Personal loan is a short tenure loan. Most of the banks provide you loan for a minimum of one year to a maximum of five years.
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Do I have the option of pre-paying the entire loan amount? :

Yes. One can pre-pay the loan any time after 6 months of availing of the loan. One merely has to pay a small prepayment fee on the outstanding loan amount.
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Is there any Age criteria for taking an Education Loan ? :

Anyone in the age group of 16-35 years can take this loan.
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Can I get a home loan for purchasing a home overseas? :

No, currently no financial institution provides loan for purchasing a house abroad.
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Can I get another loan for further education? :

Second time Education Loan can be sanctioned to the same student borrower for completion of next higher course at the discretion of the Bank. A student who has taken the loan for a Bachelors degree can apply for another loan for the completion of Master's degree.
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How is my loan eligibility determined? :

Loan eligibility differs from bank to bank. The main factor the bank considers is your ability to repay the loan. Your profile in terms of residence and the place you work is also taken into consideration. Do make sure to check all such other eligibilities before applying.
Faq

Can I prepay my loan? :

Yes, you can prepay the entire loan outstanding after paying 6 installments of availing the same. The Bank charges a prepayment penalty which varies from 2%-5 % paid at the time of preclosure (returning the money before the stipulated tenure of the loan). Prepayment charges as applicable would be...


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