#1
4th April 2019, 08:04 PM
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Details of prepayment fine under Education Loan scheme of Andhra Bank for MS in Abroad aspirant?
Hi everyone, I was searching for an education loan scheme for studying MS in Abroad. After searching I thought that applying an education loan from Andhra Bank is fine for me as I have an account in this bank. But I am unable to understand the prepayment fine. Can I know about this particular term?
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#2
10th April 2019, 01:46 PM
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No penalty (fine) will be charged for prepayment of an education loan under Andhra Bank education loan scheme. Moratorium Period or Repayment Holiday – Course period + 1 year or 6 months from employment (whichever is earlier) Candidates can contact the bank branch for more details or can find the details in the website link given Click Here |
#3
10th April 2019, 04:03 PM
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Andhra Bank Education Loan does not carry any prepayment fine. For loan up to INR 4 lacs, there is no security required. For loan above Rs. 4 lacs and upto 7.5 lacs, the parents or the guardian will be the co-applicant and acts as primary debtor. Above Rs. 7.5 lacs, tangible collateral will be accepted as security by the bank with the third-party guarantee.
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