my brother applied for a education loan in sbi and the amount sanctioned is 5 .62 lac and rate of interest is 10.65 percent and tenure 222 month, the bank will pay the college per semester which 80000 per semester . but from starting bank is charging interest as per 5.62 lac but banking is giving only 1.60 lac as per 2 semester per year .
can any one please explain me why from starting bank is charging interest on 5.6 lac
can any one please explain me why from starting bank is charging interest on 5.6 lac