Procedure (Form) to Apply for Education Loan in Andhra Bank. Here is the procedure to apply education loan in Andhra bank, download the form and apply online.
Website : www.andhrabank-india.com
Bank Type : Nationalised Bank
Provided study loan amount in India : Upto 10 Lakhs
Provided study loan amount in Abroad : Upto 20 Lakhs
Coverage :
Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, Transport charge and Refundable deposits.
Margin:
- Up to Rs.4.00 Lacs Exempted.
- Above Rs.4.00 Lacs 5% for Indian students.
- Above Rs.4.00 Lacs 15% for Abroad Studies.
Interest rates:
- Up to Rs.4.00 Lacs–(BMPLR -1.25) – Presently 11.75%.
- Above Rs.4.00 lacs–(BMPLR + 0.50) presently 13.50%.(BMPLR at present: 13.00%)
Security :
- Up to 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.
