Can I close my SBI education loan account online?

Click Requests > Closure of Loan A/C. A Closure of Loan A/C page appears. Select the loan account you wish to close. Select the transaction account which will be debited to close the loan.

How do I close my education loan account?

Foreclosure Procedure

1. Visit the bank branch and talk to your bank representative.
2. Fill up the loan closure request form.
3. Wait for the bank confirmation.
4. Check the loan balance amount.
5. Pay the outstanding balance via cheque, ECS or any other method.
6. Get the NOC from your bank and close your account.

Can we cancel SBI education loan?

Yes, a student loan can be cancelled. The bank will then reverse the process of sanctioning the loan.

What will happen if I don’t pay my education loan in India?

– If you do not pay your education loan in India, the lender will start sending notices to you and your guarantor, if there is one. If you fail to comply with the warnings, you will default on your loan, and your credit score will take a huge hit. You would not be able to secure any loan in the future for a long time.

How do you write a letter to close a loan?

I would like to inform you that I wanted to close the account for personal reason. In view of above, you are request to please supply me no dues certificate after checking balance due on me and close the said all three account and please supply me no dues certificate.

What happens if I settle my education loan?

The result of such a settlement is a drop in the credit score of the applicant. The record of settlement is included on your CIBIL™ report for a period of seven years. A request for another loan by the applicant in such years can warn the lenders about the risk of default in repaying the loans provided by the bank.

How to close a loan account in SBI?

Make sure that you have sufficient balance in your account to close the loan account. Go to e-services tab on the top and select Closure of loan A/c from the list on left side of the screen. After filling in the details a request is sent to the bank for the closure.

How do I Close my Education Loan Account?

The process to close your education loan account is simple. You first have to prepay your entire outstanding due amount. Then submit an application form with the branch to close the account.

Where can I apply for an education loan from SBI?

You may apply for an education loan at a SBI branch nearest to the permanent residential address/ place of domicile. Additionally, for customer convenience, Scholar Loans can be availed from campus/ mapped branches. *T&C Apply.

How to close a loan account through e-services?

Go to e-services tab on the top and select Closure of loan A/c from the list on left side of the screen. After filling in the details a request is sent to the bank for the closure. You can mail them that you have initiated a loan account closure request as a reminder.