Upgrad LLM

education loan


Dear sir,

I had taken an education loan of 11 lacs from State Bank of India for PG in engineering in  uk.I finished my pg in nov.2009 and stuck in recession so couldnot get a job.Came back in india but not got job for a long time.Now Iam working as a lecturer and getting very less salary so not able to pay back loan.I havepaid back around 1-1.5 lacs till now and the interest is increasing.

Government of India has  exempted  interest on education loan, but its from april 2009 and i took in sept 2008 so that scheme is also not applicable to me as per bank officials.

I am suffring very much from this issue so I request Any lawer to guide me in this

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You may approach the debt/recovery/legal cell of the bank for a resoloution, express your problems and seek   best option to restructure/obtain waiver.

You are liable to pay the loan amount with accrued interest, penalties.

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corporate lawyer

hi ravi

debt recovery tribunal won't help you because they're created by bank to deal with defaulters. you better ask a personal financial advisor because they're good at dealing with debts.




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