How can I repay my education loan?


  1. Pay interest during moratorium. …
  2. Pay interest during moratorium. …
  3. Loan subsidy schemes. …
  4. Loan subsidy schemes. …
  5. Form a sensible repayment strategy. …
  6. Form a sensible repayment strategy. …
  7. Lenders may offer concessional rates for women, those studying in premier institutions.

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Just so, can I pay back my student loan early?

Why pay off your student loan early? Student loans of a sizeable amount will take years to pay off – especially when you factor in interest accruing on the amount you owe. … As student loans do not come with penalties for early repayment, there is no harm in clearing the debt early.

Besides, how can I check my education loan status in HDFC Bank? How to Check HDFC Personal Loan Status Online Using HDFC Bank Account?

  1. Click on the net banking link on the official website of HDFC Bank.
  2. Enter your details and log in to the website.
  3. Once you have logged in, locate the ‘loans’ section on the menu bar.
  4. Track Loan Application form through HDFC website.

Simply so, how can I pay HDFC UPI loan?

HDFC Bank Customers

  1. Click on the ‘BHIM UPI Payment’ icon on your HDFC Bank MobileBanking App.
  2. An SMS for device biding & security will be sent to your registered number.
  3. Create a UPI ID and link it with your HDFC Bank account number.
  4. Generate a 4-digit UPI PIN.
  5. Open the HDFC Bank MobileBanking App.

How can I repay my HDFC loan?

How to Make HDFC Loan Payment Online at Paytm?

  1. Go to HDFC loan payment page on Paytm.
  2. Enter your Loan Account Number.
  3. Click on ‘Get Payable Amount’
  4. Check the payable amount and choose the payment method of your preference Proceed to make the payment.
  5. You are done with it.

How do I pay my loan with Google pay?

Pay bills using Google Pay

  1. Open Google Pay .
  2. From the bottom of the screen, slide up.
  3. Tap New. type in the name of a biller.
  4. From the search results, tap the name of the biller. Link account.
  5. Follow the instructions on the screen. If you’re asked to enter your Customer ID, you can find it on your physical bill or e-bill.

What happens if education loan is not paid?

If you are unable to make repayment on your education loan, then you will receive notices and warnings from the lender. If you fail to comply with the same, then the lender is legally entitled to the assets you mortgaged. Your property or asset can be auctioned or used by the lender.

What happens if I repay my loan early?

Many banks and lenders charge penalties for repaying loans early. There’s no standard figure, but the average is approximately the equivalent of 1-2 months’ interest. … If you want to pay off a loan early, under the Consumer Credit Act you should get a refund of any interest and charges you’ve already paid.

When can I prepay my education loan?

An education loan usually attracts an interest rate ranging from 11 per cent to 15.5 per cent. With that, if the EMI outgo amounts to 50 per cent of one’s current monthly salary, then according to experts one should definitely consider paying off the loan at the earliest.

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