What is margin money on education loan in india?

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Christa Ankunding asked a question: What is margin money on education loan in india?
Asked By: Christa Ankunding
Date created: Fri, Jul 9, 2021 2:38 PM
Date updated: Mon, Aug 1, 2022 6:40 AM
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Video answer: What is margin money in education loan?

What is margin money in education loan?

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The margin money in terms of Education loan is the amount that is paid by the borrower while the rest of the amount is paid by the bank… For example, if overall expenses equal 40 lakhs, the sanctioned loan amount is 33 lakhs. The margin percentage is 17.5%, i.e the borrower will pay the rest 7 lakhs all by himself.

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