Problems faced while paying education fee through credit cards
By Ankit Sharma
Jun 2, 2014
Print    Email    RSS   

Many students are happy after the facility of paying the education fees through credit cards is provided. This facility is quite beneficial as it allows the students to pay their fee hassle free, however on the other hand it is being informed that while paying through credit card EMIs the student will not get time till the end of the course or the moratorium period to start paying back.

In case of the education loan student is usually provided with a moratorium period, but with the credit cards the repayments begin immediately. It has been noticed that the interest rates on the credit card loans is bit more in comparison to the education loan and personal loan. The range of interest rates for education loans is 18-19%.

A personal loan can be availed at 13.50-20%. Compared with this, a credit card loan can cost 18-24%. These rates vary across the lenders. Though paying the education fee through the credit card EMIs is an easy and hassle free process but paying back the credit card loan in EMIs means incurring the heaviest interest rate compared with other types of loans.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Handle your credit card with care
HDFC Bank sets up common phone banking no.
Carnival of Indian Personal Finance Blogs #3
An insight into two wheeler insurance
Know the Reasons for Rejection of a Credit...

College BeAuTy 9646870399 ChAnDiGaRh ℭaℓℓ...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...
iam cheching my mobil nember
How can I clear my CIBIL PROBLEM?
what is my credit card statement

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive