There can be ONLY one loan and that's an educational loan. It does NOT matter what's the source of your loan, it could be an overdarft, mortgage etc. It's a matter between you and your bank to decide the terms and conditions of a loan. CHC (India) expect only an educational loan.
there is written that loan for higher studies of their son(name) and then course name and length ofcourse but not rate of interest.....is it ok enfield
there is written that loan for higher studies of their son(name) and then course name and length ofcourse but not rate of interest.....is it ok enfield
there is written that loan for higher studies of their son(name) and then course name and length ofcourse but not rate of interest.....is it ok enfield
Yes, it’s definitely ok. And you can submit the same along with your CHC.
As you know that educational loan possibly comes with a 'Floating Rate of Interest', so that’s why few banks do not prefer to explicitly mention the current Floating Rate on the loan letter. And also, the CHC has nothing to do with the rate of interest of your loan; it’s solely a matter of concern between you and your bank.
