Get your study loan in rupee to repay in India

My daughter will go to Ireland to study. I have enquired about loans from domestic banks and even a few banks in that country.

- CHAITALI DUTTA

Which one should I opt for and what should I keep in mind when taking the loan?

—Pradeep Sharma

A loan in rupee would be advisable if the repayment is expected to be done by you through rupee income. However, if your daughter plans to work in Ireland itself, then she will have income in Euro which will help her in repayment. Generally a rupee loan with better understanding of the interest rate scenario in India, is preferred by parents. Do enquire about the option to prepay the loan in Ireland as and when you have extra funds.

As I need some money for a short period, is it better to take it by pledging some stocks than go for a personal loan?

—Arvind Iyer