Question: I was taken a education loan from bank. I completed my study and know I pay or not to repay to bank. If I want to a loan amount then can you suggest that how I proceed about my loan. Loan amount is 55,000. in June, 2007. Interest rate is 11%.
Answer: Dear Mr Raju, to avail another loan (of any kind), you need to be regular in your repayments with regards to the current loan for the banks to consider you for another credit. Non payment of existing loan reflects badly on your credit report which, due to which you will in all probability be denied of any kind of loans in future. Therefore, we suggest you be prompt in your current loan payments and consider a second loan only if you really need it.
Expert @ InvestmentYogi