Andhra Bank- Education Loan Scheme
Andhra Bank- Education Loan
Rate of interest:
Up to Rs. 7.50 lakhs : MCLR(one year) + 2.00 %
Above Rs. 7.50 lakhs : MCLR(one year) + 1.70 %
(0.50% concession for girl Students) and concessional interest rates to students in premier institutions @ MCLR (One year) + 0.20 %.
Educational Loans for Higher Studies in India and Abroad.
- The student should be an Indian National.
- NRI-if student is holding Indian Passport. (Suitable Collateral Security enforceable in India is to be provided for all such proposals.)
- Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent)/higher qualification.
- In case where admission is not through common entrance test and the marks secured in the qualifying examination is the only criteria adopted, the minimum cut off marks should be 65% in aggregate in the qualifying academic examination.
- Educational loans are allowed to meritorious students, who qualify in entrance examination but choose to pursue under Management quota for reasons like proximity, choice for a course of discipline or any other reasons pertaining to his academic/career interests.
- The eligibility for loan is determined based on employability of the course and reputation of the institution concerned.
- List of accredited institutions for all the courses is kept in this website. Education Loans are given to students who secure admission in accredited Institutions.
LIST OF ACCREDITED EDUCATIONAL INSTITUTIONS
Checklist for Educational Loan