Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Recovery about education loan

(Querist) 25 March 2017 This query is : Resolved 
Hello sir, I took education loan in nov 2011. I completed my education in July 2015. Till now(march 2017) I did not repay any single instalment because I do not got job till now. But bank force me to repay rs 30000 immediately otherwise they file a case on me. So what is recovery rule for education loan. What should I do.
Kumar Doab (Expert) 25 March 2017
Refer to T&C of the loan.
Rajendra K Goyal (Expert) 25 March 2017
All the terms and conditions are written on agreement signed by you while getting the loan. You should have referred.

Loan was granted for studies without any confirmation that Bank would not ask repayment if you do not get / have delay in getting employment.

You should have started repayment after completion of studies or thereafter any period mentioned.

Bank is right in asking to keep the account standard (Non NPA) or has right to proceed legally to recover its dues.
R.K Nanda (Expert) 25 March 2017
try to settle matter amicably with bank.
Kumar Doab (Expert) 27 March 2017
Try to resolve amicably.


You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :