Education and Career Forum

My father want to apply an education loan for me so that I can get admission and study BSc(Hotel Management) course. He is telling me to apply an education loan from Andhra Bank. But I am not interested to apply an education loan in this Bank. So, before applying an education loan in this bank I want to know about the benefits of applying an education loan in this bank?

Originally Posted by Unregistered

My father want to apply an education loan for me so that I can get admission and study BSc(Hotel Management) course. He is telling me to apply an education loan from Andhra Bank. But I am not interested to apply an education loan in this Bank. So, before applying an education loan in this bank I want to know about the benefits of applying an education loan in this bank?

Some of the benefits available under Andhra Bank Education Loan scheme are given below:

>> Andhra Bank offers attractive interest rates for education loans – For loans up to Rs 7.50 Lakhs – 1 year MCLR + 2.00% and for loans above Rs 7.50 Lakhs – 1 year MCLR + 1.70%

>> There is no margin required for education loans up to Rs 4 Lakhs and above Rs 4 Lakhs – 5% for studies in India and 15% for studies abroad

>> Meritorious students and girl students can get interest concession of 50 BPS (0.50%)

>> Repayment Holiday or Moratorium Period – Course period + 1 year or 6 months after getting job, whichever is earlier

>> No penalty for prepayment of education loan

>> No processing / upfront charges for studies in India

Andhra Bank website link is given Click Here

Benefits of applying for an Education Loan in Andhra Bank for BSc(Hotel Management) aspirant:

Low interest rate

Faster Disbursal

Less paperwork

No prepayment fees

No pre-closure charges

No margin for loan upto Rs. 4 lacs