Legal action can govt. banks take on default student loan

Hi,

    first i would like to inform you that most banks allows concession of interest for prompt payment of interest during the study period .and banks can vary the repayment period from 10 to 15 years .In some exceptional cases.some banks have a scheme of top up/Step up repayment to the loan let me tell u that

first 3 years -repayment as per the present capacity of the borrower.that is 50% of the net income

next 3 years -repayment 60% of the net income available to the borrower

balance EMI is calculated the balance present at the end of 6 years 

Kindly contact the branch manager and tell your present situation and convince him to restructure the loan to suit your situation

Another thing if educational loan is outstanding it will be difficult for you to get other loans from banks as PAN is asked every bank for educational loan and loan appears in your CIBIL Report

And it is easy for you to get a good job .be confident!!!!!

Best wishes

hi sir 

Thanks for your valuable information.I am very confident and eager to repay the loan .I am working very hard to get a good job.I need some support from bank also to extend my repayment period to atleast 3 years. I have shared my problem with branch manager ,he is asking to settle whole amount within one year ,Otherwise they will file a case against me.Please, give me more clarification about the consequences.While issuing loan the bank,I did n't have PAN card.Now they are asking for my PAN details.Can they really drag me to court or spoil my CIBIL score or attach my salary .Please giude me.

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