Banks will typically require all loans to be repaid within 10 years.
There are several common ways that you can repay your bank loan. You can:
- Pay both interest + principal once money is disbursed by the bank
- Pay interest only during your studies, and then interest + principal after you graduate.
- Pay nothing during your studies, and then interest + principal after you graduate.
Not every bank will have all of the above payment options available. Also, some banks may offer other unique payment variants. Our advice is to check with the banks for the latest repayment options.