Home / Exam Result India / student educational loan andhra bank for higher studies

student educational loan andhra bank for higher studies

Andhra Bank offers educational loans to meritorious students for pursuing a higher degree either in India or abroad. .student educational loan andhra bank for higher studies.student educational loan andhra bank for higher studies go with below links for more information.

Eligibility:

Age :
12-30 years for studies in India
18 to 35 years for study in other countries

Qualifying Marks Exempted

Quantum of Loan:
Maximum
Rs. 10.00 Lacs for studies in India
Rs. 20.00 Lacs for Studies Abroad

Purpose of Loan :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.

Margin :
Upto Rs.4.00 Lacs Exempted
Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.

Security:
Upto Rs.4.00 Lacs guarantee  of  parent
Rs.4.00 to 7.50 lacs – guarantee of the parent
Above Rs.7.50 Lacs–Collateral Security of suitable value & guarantee of the parent

Rate  of  Interest  is  subject  to  change  in  BMPLR  from  time to time
Interest   w.e.f., 01.04.2009
Upto Rs.4.00 Lacs–(BMPLR -1.25) – Presently  11.00%
Above Rs.4.00 lacs–(BMPLR + 0.50) presently  12.75%
(BMPLR at present: 12.25% w.e.f., 01.04.2009)

Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT  RATES  OF  INTEREST – DIFFERENT  INSTITUTES

student educational loan andhra bank for higher studies

For IIMs (with out MOU), Rate of Interest is BMPLR-2.50 = 9.75% (Sanctions made from 15.07.2008)

NO  PROCESSING  CHARGES  ; NO  PREPAYMENT  CHARGES  APPLICABLE FOR  EDUCATIONAL  LOANS

INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.

B) AB Career Advancement Loan Scheme (ABCALS)

student educational loan andhra bank for higher studies eligibility details and other information:

 1 Eligibility Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
 2 Purpose  For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)
 3 Amount of loan Maximum Rs.7.50 Lakh
 4 Margin  10 %
 5 Collateral security  NSCs, KVP, LIC policy surrender value, Govt. securities, Gold

ornaments, Bank deposits, Building/flat of applicant /

co-obligant  value not less than  loan amount.

 6 Gestation Period  One month
 7 Repayment period  Maximum 60 monthly installments  commencing  after  one  month   from the date of advance.
 8 Prepayment Charges  2% flat on the prepaid amount for all Term Loans where the

repayment is fixed beyond 36 months. i.e. installments paid

ahead of repayment schedule.

9 Other requirements i) No  objection  certificate   from   the  employer  for

prosecuting higher studies and to avail loan from the Bank.

ii)Salary undertaking letter from employer for recovery

of installments.

iii) Undertaking letter from employer to adjust the dues

to the bank from out of terminal benefits, of the employee

if needed.

student educational loan andhra bank for higher studies with low interest is applicable for eligible students.

for more formation visit official website www.andhrabank.com     link1 

for related bank education loans other bank educational loans

 

Check Also

Telangana Endowment Department Recruitment 2017 | 73 posts

Telangana Endowment Department Recruitment 2017: Telangana Endowment Department Recruitment 2017 newly announced by the Govt …

Leave a Reply

Your email address will not be published. Required fields are marked *