Andhra Bank Education Loan

Top Menu

Home /
Education Loan /
Andhra Bank

Here are given the instructions to be read before granting loan in Andhra bank for Education in India or abroad for Indian as well as NRI.

Bank Name	Amount of Loan	Repayment Tenure	Interest Rate
	20 lacs	10 - 15 years	1.50 - 2.75 %

Eligible Courses

To study in India :

Approved coursesof various schools / colleges of India that leads the candidate to either a Diploma / graduation or post graduation degree. These include the courses which are recognized by the Govt. / UGC / ICMR / AICTE etc. the courses of any of the IIMs or IITs. Any other regular diploma / degree course like shipping, pilot training or aeronautical etc. they should also be approved by director general. The courses of India which are for Indian students recognized by any of the reputed university abroad. For any of the Para medical and nursing courses also the loan is granted to the students from Andhra Bank. Courses offered by any institute run by the state or central government providing diploma or degree are also eligible for loan. The courses which are listed on the websites AICTE / UGC are also eligible.

To study abroad :

For studying abroad only some of the professional or technical graduation degree courses that can promise to give a job are also eligible to apply for loan. MS, MCA and MBA like other courses can also be considered for granting of loan. Courses under CPA of USA and CIMA of London are also eligible for loan application.

Expenses that can be considered for granting loan

Fee which is needed to paid to hostel / college / library / laboratory /examination / insurance premium / caution or refundable deposit / and hostel etc.
Expenses considered necessary for study of the course by the university where he / she is studying which generally includes travel expense, equipment expense, books / computer uniforms / instrument / project work / study tours etc.

Amount of loan granted

For Indian students studying in same country: Maximum Rs. 10 Lac
For Indian students studying in foreign country: Maximum of Rs. 20 Lac

Interest rates

Interest rate is subject to change. A simple interest is taken from the students for the study period and until the start of repayment tenure. A little concession of 0.5 % is given to all the girls students.

Processing fee

NO processing fee for studying in India and a reasonable amount of refundable processing fee is taken for studying abroad

Repayment tenure

The start of repayment tenure is from one year after course completion, 6 month post getting a job or which of above is earlier.
For loans up to 7.5 Lac the tenure is 10 years and for above loan the tenure is 15 years.

Security

No security except parent being co borrower up to 4 Lac. Collateral third party security is needed for more than 4 Lac loan and tangible collateral security is needed for loan above 7.5 Lac

Margin

Nil up to 4 Lac
For more than 4 Lac 5 % for Indian and 15% for abroad

Required Documents

Academic background record of student
Duly filled application form
Category certificate
Proof of Identity
Proof of admission
Supporting documents for further disbursement of fund

Want help with admissions?

Leave us your details and we will contact you

I accept T&C and allow AllSchoolsColleges to contact me

Applications for Admissions are open

K.R. Mangalam University, Gurgaon