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Moratorium period
Please help me to know this
In national bank
If my education loan principal outstanding is 100000
My accumulated interest is 25000
Is under moratorium period means interest is not yet capitalized so simple Int is being charged I.e on principal without considering accumulated int as this is the policy of moratorium period.
Now if I pay 10000 to bank as repayment of loan then it'll be reduced from principal or accumulated interest ?
Whether my next month int is cal after deducting my repayment on principal ?
Replies (2)
Generally, such payments are first appropriated against interest and then principal. So in this case, it would be first adjusted against interest liability
Thank you mam,
Mam same principle apply even in moratorium period of EDUCATION LOAN also ?
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