Education Loan — repayment of education loan : concession regarding :-

Address:

Ernakulam, Kerala

I had availed education loan of 4 lakhs in the year 2013. I could complete and pass the course with 76% (Distinction) by 2017, Aug. Thereafter we contacted Bank officials and inquired about repayment of the loan, we were asked to make the repayment at the rate of Rs.16, 000/­ (Rupees Sixteen Thousand only) per month, with effect from September 2018.

Please note that, for a period of about 8 months on completion of the course, I did not get a job . However, on 1st May 2018 onwards I got a job in Shipping Field (Twin Info) with a monthly salary ofRs.8, 000/- (Rupees Eight Thousand only), which is not in the field of my education.

In this situation, as I cannot afford to make the repayment at the rate of Rs.16, 000/- per month as instructed by you, I have, with my sincere effort, availed a loan of Rs.4, 00, 000/- (Rupees Four Lakhs only) from the Society and contacted the Bank Officials to accept the said Rs.4, 00, 000/- as one time settlement towards my loan account and close the account. But, it is very sad and unfortunate that, I was then instructed by the Bank Officials to make a payment of Rs.5, 71, 578/- (Rupees Five Lakhs Seventy One Thousand Five Hundred Seventy Eight only), in order to close my loan account.

Now I humbly request you once again to accept the aforesaid Rs.4, 00, 000/­ which is taken as loan from the Society with the intention of settling my education loan account with you, considering this amount for one time settlement of the loan and close the loan account. Sir, I have no alternative, to close my loan account, which may please be noted.

Now am getting regular calls from Federal bank. Please do the needful.