Educational loan
kumar
(Querist) 11 November 2014
This query is : Resolved
Hi Sir,
This is Kumar from Bangalore. I had Availed a educational Loan from the Year 2007-2010. The loan amount was 300000 . I started to pay the Loan from 2011. In the Year 2011 i Paid 40k, in 2012 60k , in 2013 1.3L , in 2014 130k. But still the bank request to pay me the amount till 2016 as my Principle amount +Interest has gone up to 5.8L +. When the government had passed the order for the interest Wavier for those against who has availed the loan before 2009. when i inquired abt it . But the manager Refused to give the details and he said u r not eligible for that scheme . the reason he had given was Since you are paying correctly on a monthly basis u are not eligible for it. those who could not pay they are only eligible for it . Is that True. Please help me on this issue.
Thanking You
Dr J C Vashista
(Expert) 12 November 2014
File an application u/s 6 of RTI Act 2005, seek requisite information and proceed as per law.
Sudhir Kumar, Advocate
(Expert) 12 November 2014
Have you read such Govt letter?
Would you mind sharing with experts?
ajay sethi
(Expert) 12 November 2014
file RTI application to obtain details from bank
V R SHROFF
(Expert) 12 November 2014
Sudhir Kumar
is it the same case you asked two years back.
Querits' FIRST Q.
Rajendra K Goyal
(Expert) 12 November 2014
You have paid back nothing till 2010. The principal and interest must have gone to 4 lacs at the end of 2010 adding aprox. 45000 as interest in 2011 from which you paid back only 40000. Only interest charged in 2012 was paid back in 2012. No penal interest was paid which must have been charged due to default.
You should ask for your account statement and get the calculation checked. Take up the matter with the Bank for any deficiency.
There exist interest subsidy scheme from government. Go through the instructions if your case is covered to get relief under the scheme.
You can visit for brief of scheme to:
http://www.indianbank.in/rbd_csis_educationloan.php
kumar
(Querist) 14 November 2014
Thank You, Thanks a lot for the Input..
T. Kalaiselvan, Advocate
(Expert) 16 November 2014
Agree with expert Mr. Rajendra K Goyal. You may also share the contents of the letter by the government waiving the interest on educational loans as stated by you.
