Private College Student Loan

i take education loan of 139000 from this i take 42000 now i want to cancel my remaining amount is it possible

my self gaurav. i take a loan of Rs 1,39,000 from state bank of india. from this amount i take Rs 42,000 and now i want to cancel my remainig amount is it possible.

Public Comments

1. check out the contract you signed. even if theres a clause you will probably be able to get them to agree to adjust your loan to 42000 instead. good luck!
2. It is verymuch possible. Actually Rs. 1,39,000/- is the sanctioned limit and Rs. 42,000/- is the utilized Amount. So the balance if not taken out is itself not a loan to you technically.
3. Why should you 'cancel' ? You would require to pay only Rs.42,000=00 and your sanction limit remains Rs. 1,39,000=00 as usual. You may ask ur banker as follows :- - fix a repayment schedule for the availed amt - not to charge any /commitment charges', if any.