Ritu kapoor
KF Rookie
Please suggest for study loan
Lowest interest rate is in PNB starting from 4%, and later on when you've a job you can claim deduction of interest paid for 7 years.Please suggest for study loan
Education loans are financial aid options that allow students to borrow money to pay for their education. These loans are typically provided by banks, credit unions, or other financial institutions and can be used to cover the cost of tuition, fees, housing, and other education-related expenses.Please suggest for study loan
Hi Ria small correction as per sec 80D int on edu loan can be claimed for 5years only.Lowest interest rate is in PNB starting from 4%, and later on when you've a job you can claim deduction of interest paid for 7 years.
Well, correction demands you, education loan interest deduction can be availed under 80E and not under 80D( which is for claiming medical insurance expenses). Second correction is that 80E isn't amended yet, the maximum ceiling of 8 years to claim interest of education loan is still applicable.Hi Ria small correction as per sec 80D int on edu loan can be claimed for 5years only.