Education and Career Forum

Respected Sir,
I came to know that I get a concession in Education Loan scheme of Andhra Bank is given if I secure admission in Indian School of Business, Hyderabad. I want to know is it true or not? Whether I can get concession in interest rates?

Top institutes like ISB are preferred for education loan by many PSU banks and interest rate is less compared to admission in other institutions which are not in the same league.
Subsidy in interest rate is available to those candidates whose family income is less than 4.5 lacs per annum. You have to provide income certificate to get concession.

There is no concession in interest rate of Andhra Bank for education loan in order to secure admission in Indian School of Business, Hyderabad. It is a myth that one get concession for education loan from Andhra Bank to pursue studies in ISB, Hyderabad. The only positive factors include :-

- You can get loan upto 25 lakhs or 95% of the course fees whichever is earlier even though the usual limit for education loan to study in India is 10 lakhs.
- You have the option of remittance of only interest during the first two years of repayment and balance interest and principal then on.
- Maximum period of repayment is 10 years and there are no pre-payment charges.
- Mortgage is not required.