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Q. What is the method of application of interest in the loan?
A. The interest shall be charged at simple rate from the date of disbursement till the commencement of repayment of loan.
Thereafter, compound interest is charged on reducing balance.
Q. When does the repayment of loan commence?
A. Repayment will commence after Course period + 1 year or 6 month after getting job. Whichever is earlier.
Q. What is the repayment schedule?
A. Principal and interests is repayable in 60 to 84 monthly installments.
Minority B
