regarding educational loan please reply me as soon as...
Querist :
Anonymous
(Querist) 29 July 2011
This query is : Resolved
Dear Sir,my regards to you,sir i also availed a education loan in 2005 for my engineering from sbi main branch of Rs 2.6 lacks and i payed 12 installments also but due to some badluck still i am still unemployed and financially weak so i am not able to to pay a single installment more since i did'nt deposited my installements,on feb 2011 i recieved a letter from bank my account is converted in npa and my over dues is rs60500.is their any provision to reschedule my emi which is rs 6030 after 6 month or is their any ots scheme for my education loan so i can deposite whole amount in 1 1/2 year ....please suggest me
Regards
rahul
Advocate Rajkumarlaxman
(Expert) 29 July 2011
if you are settling it in 1 1/2 year it doesnt mean OTS, OTS means one time settlement in which you have to give a lumpsum amount and close the loan account. You can refresh the laon account as fresh one if the bankers co-operate and are willing to work it out. being an engg how can they accpet that you have not employed since one year . it all depends upopn the reputation you have with the bankers now. so co-operate with them and find a midway.
