Quantum of Loan:
Purpose of Loan :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
Rate of Interest is 9 % fixed.
ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
B) AB Career Advancement Loan Scheme (ABCALS)
|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|
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.|
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.
For any other clarification, please contact your nearest branch of Andhra Bank