Eligibility:

• The applicant should be an Indian National.
• He / She should have secured admission to professional / technical courses in India or abroad through Entrance Test / Merit based selection process

Purpose:

• To meet the cost of education covering fee payable to college / school / hostel, exam fees, purchase of books / equipment’s, travel expenses / passage money for studies abroad, purchase of computers essential for completion of the course etc.
• Caution Deposit, Building fund/ refundable deposit supported by institution bills/receipts, subject to a maximum of 10% of total tuition fees for the entire course.
• Insurance premium for student borrower.

Course of Study:

1) Studies in India

• Diploma/Graduation/Post-graduation courses in various disciplines.
• Computer certificate courses of reputed institutes accredited to The Department of Electronics.

2) Studies Abroad

• Job-oriented professional/technical courses offered by reputed universities.
• MCA, MBA, MS etc.
• Courses conducted by CIMA – London, CPA in USA etc.

Maximum Permissible Amount of Loan:

• For Studies in India – Rs.10.00* lakhs
• For Studies Abroad – Rs.20.00* lakhs

Margin:

• Upto Rs.4.00 lakhs – NIL
• Above Rs.4.00 lakhs –  5% For Studies in India and 15% For Studies Abroad – 15%

Holiday Period & Repayment:

• The course period PLUS 1 year or 6 months after getting a job, whichever is earlier.
• Repayable in 5- 7 years.

Insurance: Life Insurance cover available to the student borrowers under ‘IB Jeevan Vidya’ Insurance Scheme.

Security: Documents should be executed both by the student and parent / guardian as joint borrower.

1. Upto Rs. 4 lacs – No security

2. Above Rs. 4 lacs & Upto Rs.7.50 lacs – Collateral in the form of satisfactory third party guarantee

3. Above Rs.7.50 lacs – Co-obligation of parents / guardians together with tangible collateral security of suitable value along with assignment of future income of the student for payment of installments.

In case of receipt of application for more than one loan from students from a family, the ‘family’ as a unit will be taken into account for considering the loan and security will be taken in realtion to the total quantum of finance disbursed, subject to margin and repaying capacity of the parent/student.

Andhra Bank was established by the eminent freedom fighter and a multifaceted genius, Dr.Bhogaraju Pattabhi Sitaramayya on 20th November 1923. Andhra Bank offers education loans to the students who are willing to pursue their higher education in india and abroad.

Andhra Bank educational loans provides financial assistance to the students to complete graduation, post graduation and pilot training programs certified by competent authority of a particular nation. Andhra Bank also provides loans to students willing to join the programs offered by CPA in USA and CIMA-London.

Students who are having a minimum of 18 years age and having indian citizenship are eligible to apply educational loan from Andhra bank. Students need to take admission to relevant technical or professional courses through entrance examination or a merit based selection process to get the educational loan approved from Andhra bank officers.

Andhra Bank student loan also covers the various educational expenses of the students which include travel expenses, cost of books and other necessary articles, refundable deposit, caution money, building fund and also issues DD in favor of CET cell.

The maximum amount of loan granted by Andhra Bank for education in India, is Rs.10 lacs and Rs.20 lacs for study in abroad. You can repay the Andhra bank educational loan amount in seven years.