Education loan seekers taken for a ride

CHENNAI: The racket usually begins with a message saying, ‘You have been chosen as a lucky customer to avail free insurance for an education loanof 2 lakh.’ Many unsuspecting loan seekers who took the bait have found that they were not so lucky after all. With educational institutionsthrowing open applications for the coming academic season, banking experts are warning people to be wary of such messages or calls. In Tamil Nadu, the highest number of complaints received by the banking ombudsman pertained to education loans during 2015-16, as per an…

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