Purpose

 
 

The scheme will apply to deserving/ meritorious students who wish to pursue studies abroad

Rate of Interest

 
 
  • 1.The interest to be debited monthly on simple basis during the repayment- holiday / gestation period.
  • 2. The accrued interest during the repayment holiday period to be added to the principal and repayment in EMI fixed
  • 3. Penal Interest: For the loans above Rs. 2.00 lacs penal interest at 2% be charged on the overdue amount for the over due period
 
 

Eligibility for Educational Loan

 
 

Must be an Indian National

Must be over 17 years of age but within 35 years.

Must have secured admission in Overseas College/ University/ Institution in any of the following disciplines

Must be in possession of Admission confirmation letter from the concerned University.

Must be in possession of a valid Passport and Visa.

 
 

About the Bank

 
 

Andhra Bank (BSE: 532418) is a medium-sized public sector bank (PSB), with a network of 2507 branches, 15 extension counters, 38 satellite offices and 2232 automated teller machines (ATMs) as on 31 Mar 2015 and planning to open 300+ branches by 31 March 2016.[1] During 2011?12, the bank entered the states of Tripura and Himachal Pradesh. The bank now operates in 25 states and three Union Territories. Andhra Bank has its Headquarters in Hyderabad, India.

 
 

FAQ Loan

 
 

1.What is the minimum and maximum eligibility age to qualify for this loan? There is no specific restriction in this regard. Anybody, with a will to study and compliant with the Andhra Bank Education Loan terms and conditions can apply.

2.What about boarding and lodging? Is this covered per the education loan? Yes. Boarding and lodging charges to a maximum of Rs. 50,000 per year is provided for in the loan, if the student isn?t allotted in-campus hostel accommodation or opts for outside accommodation.

3.What type of concession is accorded to girl students as per the Andhra Bank Educational Loan? On the applicable interest rate, girl students are accorded a 0.50% concession.

 
 
 
 
back to top