How to Plan Your Education Loan Repayment? | GyanDhan

Education loan repayment can be a concern if you don’t plan it in a smart and informed way. Many Indian students see the abroad education loan as a major liability. Very often, they overlook the fact that if there’s a little amount of contemplation and planning is done prior to selecting the loan, all these worries can be put to rest easily.  For the purpose of planning the loan repayment, it is imperative for you to understand the policies and various other aspects of loan repayment in India. Read on to get profound know-how of policies and tactics to plan your education loan repayment process in an effective manner.      

This is a companion discussion topic for the original entry at

Is it better to prefer abroad education loans with fixed interest rates?

Can I transfer my education loan to a different bank after getting a job post-study?

Yes, my advice would be to go for fixed interest interest rates. The floating interest rate can change and thus affect your EMIs. If you have already opted for a floating rate of interest, I would recommend you to understand interest fluctuations and plan for increment accordingly.

Yes, you will always have the option of transferring your existing education loan to a bank that offers a lower rate of interest. Once you get a job, your profile will improve and the lenders will agree on loan-takeover with a reduced interest rate.