regarding education loan please help

regarding education loan

 Total Replies : 2 

 sir please help me 
I had taken loan from uco bank of 3lac 89 thousand ₹ in 2008 for btech course I have completed that course in 2012 after that I had started to pay loan 6000 per month and I had paid 1lac 60thousand rupees after that due to
some reason I was not able to pay my loan instalment they declare my acount npa .... they are demanding 4 lac rupees I ave only 2 lac rupees which I have manage to collect from my relative I don't have job I am giving tution and searching job this time

  I am offering them 2 lac they are saying for 4 lac 
I want to pay my loan amount 1lac 60000thousand I already paid 
they are threatening me that they will file suite against me if I will not pay intrest

Dear querist,


You have moral and legal liabilities to pay your availed loan amount. In case bank has not mortgaged any security (Unsecured loan) then they may not approach court as the fate recovery is in dark. Bank makes lot of statement during recovery but only apply those means which will help them to recover their money at low cast.


Negotiate with bank they will settle at principal amount.



Deepak Joshi & Associates


As per your query the loan amount was Rs. 389,000- which means bank might have given it without any security.  However, Bank must have included our father/mother as joing borrower. You say you do not have job. What about the joint borrower?


Having taken a loan from bank at concessional simple rate of interest till completion of your studies and later on with compound interest, it is your bounden duty to pay the loan.  You may approach Bank branch with Rs.200,000 and tell them to rephase the loan after accepting the amount.  Since the balance amount shall come down drastically (by your paying Rs.200,000), balance repayment instalment shall be reduced.  If branch is not cooperative, you may write suitably to their Regional Office to help you in the matter.


sir I already paid 1lac 60 thousand to them my principal loan amount was 389000 now remaining amount of principal is 229000 I am offering them 2lac rupees now and rest of my principle29000 will be in next instalment but they are not agree and demand for 4 lac (principal+intrest )as I am not capable to pay them intrest
I had also applied for loan intrest subsidy but they did not pursue my matter further I am offering them for principal amount my father have heart valve desiese so in future I need more to earn to support them also

You should not expect a Bank to forfeit the entire amount of interest on your loan. The amount you have already paid constitutes a part of the original loan amount and part of interest accrued thereto. It is your duty to pay your debts in full. You had better settle with the Bank mutually.


You are only talking about principal. What about interest? There is nothing legal which needs to be clarified in this forum. Please approach your bank and discuss with them
Retired employee.

The money bank has advanced you belongs to public, and bank must have paid interest for such funds borrowed as deposits from public.  Having secured good technical qualification through timely assistance of Bank, do not blame the bank.  Negotiate with the Bank and settle the amount with reasonabel interest proposed by them, if they are convinced of your inability to repay and if they are not having any co-obligants or other security.  Take care of your credit rating, as it reduces your rating, and in future you an not avail any type of credit facility from any financial institution either for business or for personal.




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