Education loan in Andhra Bank


In Andhra bank , education loan is provided in the name of A.P.dr.Pattaavi vidhyajyothi .
Age:
Students studying in India should be from the age group of 12 to 30
Students studying in abroad should be from the age group of 18 to 35.
Education loan amount size:
For the students studying in India , maximum amount of upto Rs.10,00,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs: students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 : BR + 0.75 = 11.50%(Floating) 11.75%(Fixed)
More than Rs.4,00,000: BR + 0.25 = 11.00%(Floating) 11.25%(Fixed)
For girls 0.50% special previliage is provided right from July 1st 2005 .
Warranty:
Upto 4,00,000 Rs: Parents guarantee is required.
From 4,00,000 Rs till 7,50,000 Rs: Parents guarantee is required.
More than 7,50,000 Rs: Property guarantor and parents guarantee is required.

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