| |
| Loans Upto Rs.4.00 lacs |
(BMPLR -1.25) |
| Above Rs.4.00 lacs |
(BMPLR + 0.50) |
Concession of 0.50% for women
for sanctions after 01.07.2005. No processing
Charges; No prepayment charges applicable. Interest
will be charged on simple basis during study/
holiday period only. For certain institutes, the
rate of interest is different, as the bank has
entered into MOU (Memorandum of Understanding)
with these institutes. The interest rate for such
institutes are :
IIRM, BITS, Pilani
BITS, Goa
IPE
Goa Institute of Management |
9 % fixed |
| ISB |
9.50 % floating (BMPLR -3.50) |
GMRIT
SVUCCMIS, Tirupathi
IIT, Hyderabad
CIHL (ZIC Center, Gurukulam) Hyderabad
Balaji Society, Pune
ICFAI Business School |
11.00 % Floating (BMPLR-2.00) |
AB Career Advancement
Loan Scheme (ABCALS)
| Eligibility
: |
| |
Permanent
employee of Govt / Public Sector Cos / Corporations
/reputed Companies with 10 years of balance
of service.
|
Loan
Details
|
| |
Purpose
For studies with reputed
Institutes and with International affiliations
(Computer including printer can be purchased
for all the courses with a maximum of Rs.50,000/-,
within the over all limit.)
Quantum
Maximum Rs.7.50 Lakh
Margin
10 %
Collateral security
NSCs, KVP, LIC policy surrender value, Govt.
securities, Gold ornaments, Bank deposits,
Building/flat of applicant / co-obligant
value not less than loan amount.
Gestation Period
One month
|
| Repayment |
| |
Period
Maximum 60 monthly installments commencing
after one month from the date of advance.
Prepayment Charges
2% flat on the prepaid amount for all Term
Loans where the repayment is fixed beyond
36 months. i.e. installments paid ahead
of repayment schedule.
Other requirements
i) No objection certificate from the employer
for prosecuting higher studies and to avail
loan from the Bank.
ii) Salary undertaking letter from employer
for recovery of installments.
iii) Undertaking letter from employer to
adjust the dues to the bank from out of
terminal benefits, of the employee if needed,.
|
Contact Details
Head Office - Andhra Bank
5-9-11, Secretariat Road, Saifabad, Hyderabad-500004
Phone : 040 - 2323 0001
Fax : 2323 4583
Website : visit
Andhra Bank Zonal Offices |
|
