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What is OTS on Education loan?

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0 2022-11-09T07:53:40+00:00
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Loans come in different terms, interests and so on. One such is OTS or One Time Settlement. The borrower will need to pay the whole pending amount one at a go within the stipulated time stated by the lender. It stands for One Time Settlement, a tool which a lender uses to recover dues from an individual borrower that is lower than the total amount due. 

The lender possesses the power to choose whether he will opt for OTS or not and a borrower has no say in this case. 

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