• Eligibility:

• Age :
  • 12-30 years for studies in India
  • 18 to 35 years for study in other countries
    
    
    

• Qualifying Marks Exempted
  
   
  • Quantum of Loan:
    Maximum
    • Rs. 7.50 Lacs for studies in India
    • Rs. 15.00 Lacs for Studies Abroad
    
    
  • Purpose of Loan :

    • To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
    PLUS
    • AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
  • Margin :
    • Upto Rs.4.00 Lacs Exempted
    • Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
      
      
  • Security:
    • Upto 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
      
      
  • Interest:
    • Upto Rs.4.00 Lacs--(BMPLR -0.50) - Presently  11.75%
    • Above Rs.4.00 lacs--(BMPLR + 0.50) presently  12.75%

              (BMPLR at present: 12.25%)

    • Concession of 0.50% for women for sanctions after 01.07.2005
     

    DIFFERENT  RATES  OF  INTEREST - DIFFERENT  INSTITUTES

    • Wherever Andhra Bank has entered into MOU  with

    ---- IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management

           Rate of  Interest  is   9 %  fixed. 

  • ----ISB    -  Rate of  Interest  (BMPLR -3.50)  is  8.75 % floating

                    ----GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC

                          Center, Gurukulam)Hyderabad ; Balaji Society, Pune ; ICFAI Business

                          School -Rate of  Interest  is (BMPLR-2.00) 10.25 %  Floating

                                                                                                               
NO  PROCESSING  CHARGES  ; 2 %  PREPAYMENT  CHARGES  APPLICABLE

INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD ONLY.