Harshal 08 August 2017

Should i do one time settlement of education loan ?

Hi, I have taken education loan of 3 lakhs from bank for the period 2009 - 2013. form which I have paid monthly 10K so total I paid till date is 280000 and now remening amount is 275000, so they charge me 2300 interest on each month,.
but now the situation is I can pay one time all remaing amount.
should I pay the one time? will it affect to my CBIL score? will this affect for lone which I will take in future? or should I keep paying per month rather than one time settlement?

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3 Replies

(Guest)

Harshal,

If you have the capability to pay the remaining amount in one shot, then nothing better than that. Once you pay the total outstanding amount, your CIBIL score will shine !!!! Plus by prepaying the loan you will save interest amount

(Guest)

You may pay as one time settlement before the due date and get your CIBIL score improved. This type of settlemtn is not treated as having a negative effect.

VARUN MAHAJAN (Proprietor) 31 August 2017

cibil report is considered if while paying out of the loan amount has some issues /or non payment will be a problem as such pre payment will never cause you problem as such