Education loan

Manish Kumar (Querist) 28 December 2016 This query is : Resolved
Dear Sir/Madam

I took 4 lakh education loan from indian overseas bank.
My Emi is approx. Rs.15500.

My income is not so good to pay this much amount.
My account is about to slip in NPA.
My repayment period is 4 years.
Can repayment period extend ? so i can pay lower EMI.

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Rajendra K Goyal (Expert) 28 December 2016
Extension of repayment period / re-phasing of loan is discretion of bank within the frame work / guidelines of RBI / Govt.and scheme of loan.

You may request.

You have no right for this.

Ms.Usha Kapoor (Expert) 29 December 2016
Extension OF REPAYMENT PERIOD ETC IS DISCRETION OF BANK WITHIN THE FRAME WORK/GUIDELINES OF RBI/gOVT AND SCHEME OF LOAN.YOU CAN REQUEST BUT IT'S NOT YOUR ENTRENCHED RIGHT.