WealthTrust (Evolusolve Technologies Pvt Ltd) is a SEBI registered investment adviser (RIA code - INA000007650), trusted by 100,000+ investors from all over India. WealthTrust is one of the India's first and fastest growing 'Zero Commission Wealth Management' platform. Invest in direct plans of mutual funds online in a paperless, seamless and hassle-free way.
Education Loan amt Needed for MBBS : 30 lacs
Maximum Loan amt which Bank will approve : 20 lacs
Interest Subsidy is available for loans upto 7.5 Lacs
Canara bank manager says student will not be eligible for interest subsidy scheme if loan amount is greater than 7.5 lacs.
If we apply for only 7.5 lacs educational loan,manager says it cannot be disbursed in one go even if one year fee is 7.5lac..Also we have to show proof for how we are going to pay remaining course amount.If we show proof,again we are not eligible for interest subsidy as we wiil be considered as elite class..
Is the manager correct or he is just trying to avoid? If we take 20 lac loan we ar not eligible for subisdy for 7.5 lacs also??