Biggest mistakes people make while taking PM Vidyalaxmi Loans?
People who’ve taken SBI/CBI PM Vidyalaxmi education loans for MBA. What are the MOST important things students should know before taking a loan?
Things I recently found out:
- Moratorium simple interest can silently increase total repayment a lot
- Servicing interest during study period changes EMI massively later (Still finding details about it)
Would love practical advice from people who’ve already gone through it:
- Best repayment tenure? (Is 8 years ideal?)
- Biggest hidden traps?
- Things to negotiate before sanction?
- Mistakes people realize too late?
- SBI vs other PSU bank experiences?
- Anything that materially reduced your total repayment?
u/Just_a_Listener — 1 day ago