Andhra Bank Education Loan For Better Future

Published: Monday July 15, 2019 15:15

Andhra Bank, a banking behemoth that commenced operations from 28th November 1923, has always been much admired for its customer-first approach and a progressive outlook towards improving the standards of personal and commercial banking in India. In this vein, the Andhra Bank Education Loan is a comprehensive, scalable, customer centric product that has been a big hit since its initial launch. Loaded with attractive features, including the very competitive Andhra Bank Education Loan interest rate, and benefits that are immensely attractive to students who are looking to pursue further education in India and abroad.

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.

Student eligibility-

a) The student should be an Indian National.

b) NRI-if student is holding Indian Passport. (Suitable Collateral Security enforceable in India is to be provided for all such proposals.)

c) 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.

d) 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.

e) 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.

For more information click here
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