Hi, I am Sachchidanand Tiwari have taken Education Loan of 2 Lac from canara Bank in 2009 and my family annual income is below 1 lac. Now I have completed my Education but canara bank now charging 13.5% interest rate on principle amount for 3 years in advance and then again they are charging 13.5% on principle+Interest of (3 years). So in this manner they are charging more than 60% interest on principle amount. and my total loan amount become 327000 Rs, If I am paying it in 3 years. Please help me out to understand their scheme.
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