When does the repayment start?
EMI payments start from the month following the month in which the full disbursement has been made. Top How is the EMI paid? The EMI is to be paid every month through post-dated cheques (PDCs) or Electronic Clearing System (ECS)*. If you are opting for PDCs, then you will have to provide 36 PDCs upfront. The PDCs are to be dated on the 1st of every month. However, if you receive your salary a few days later, we provide the flexibility of dating the cheques for the 10th of the month.In case you have an ICICI Savings account you can also go in for the facility of Auto Debit. * ECS facility is available in selected cities only. Top What if a PDC bounces? In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy. You can replace old PDCs with new ones within 5 – 7 working days. Top What is pre-EMI interest? In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This
for example if the course fee is 6 lakh, can i have a loan of 7 lakh so i can extra 1 lakh for intial expenses in Australia. Asked by Maneesh Deswal on 23 January 2008 at 3:04 AM. • Answered by Studyplaces Counsellor Student Loan Most of the Nationalised Banks do offer competitive interest rates ranging between 11% to 14%. Repayment of education loan usually starts after 1 year of completion of the course or after 6 months of getting a job, whichever is earlier. Banks do offer loan to cover Tuition fee and living expenses which means that you can take loan to cover your living expenses also.
