MoneyLens / Education loans
Your education loan, explained.
Education loan · Narmada Global Scholar · Narmada Bank Ltd · ••••5518
Illustrative
Education loan · abroad · Bank
Sanction10 Jul
Interest to pay while studying
₹5,63,836
paid as it falls due
Paid out
₹30,00,000
of ₹30,00,000 sanctioned
EMIs start
30 Nov 2027
in 13 months
EMI
₹32,238
for 180 months
100% of the loan paid out
An education loan of ₹30,00,000 from Narmada Bank Ltd at 10.50% a year (floating), for study abroad. Interest is paid as it falls due while studying; EMIs start on 30 Nov 2027 and run 180 months. The interest is tax-deductible for 8 years under the old regime.
Myra's most important observations
The loan's timeline
Sanction p.1, Loan · Sanction p.1, Interest · Sanction p.1, Repayment- CourseMS (2 years)
- Course ends31 May 2027
- EMIs start30 Nov 2027
- Repaid over180 months
- Rate10.50% a year · floating, Repo rate
- If interest is paid while studying0.50% off
- Interest while studyingPaid monthly
Payouts, security and co-borrower
Statement p.1, Disbursements- Paid out 20 Aug 2025₹18,00,000
- Paid out 20 Aug 2026₹12,00,000
- SecurityProperty
- Co-borrowerparent
Each payout earns interest from its own date. A co-borrower owes the whole loan, and it shows on their credit report.
Extracted terms
Each term keeps its source. Interest, tax and subsidies are on the Interest & Tax tab.
| Term | Value | Source | Status |
|---|---|---|---|
| Product name | Narmada Global Scholar | Sanction p.1 | Verified |
| Reference number | ••••5518 | Sanction p.1 | Verified |
| Document date | 20 Aug 2025 | Statement p.1 | Verified |
| Type of lender | Bank | Sanction p.1 | Verified |
| Studying in | Abroad | Sanction p.1 | Verified |
| Course | MS (2 years) | Sanction p.1 | Verified |
| Course ends | 31 May 2027 | Sanction p.1, Repayment | Verified |
| Moratorium after the course | 6 months | Sanction p.1, Repayment | Verified |
| Loan sanctioned | ₹30,00,000 | Sanction p.1, Loan | Verified |
| Sanctioned on | 10 Jul 2025 | Sanction p.1 | Verified |
| Disbursements | 20 Aug 2025 ₹18,00,000 · 20 Aug 2026 ₹12,00,000 | Statement p.1, Disbursements | Verified |
| Interest rate, a year | 10.50% | Sanction p.1, Interest | Verified |
| Rate type | Floating | Sanction p.1 | Verified |
| Benchmark | Repo rate | Sanction p.1 | Verified |
| Concession if interest is paid during studies | 0.50% | Sanction p.2, Interest | Verified |
| Interest during studies | Paid monthly while studying | Sanction p.2, Interest | Verified |
| Repaid over | 180 months | Sanction p.1, Repayment | Verified |
| Security asked for | Property | Sanction p.1, Security | Verified |
| Co-borrower | Parent | Sanction p.1 | Verified |
| TCS on fees sent abroad | ₹5,000 | Statement p.1, Remittance | Verified |