Education and Career Forum

Hello Friends,
I am getting admission in NIT for B.E. in Civil Engineering. branch under General category but I am OBC(NCL) category candidate of Bihar. I need to get an Education Loan from Andhra Bank. I would like to know that as I come under reserved category so I can get exemption in rate of interest from this Bank Education Loan scheme?

No, you can't get any exemption on rate of interest of Andhra Bank Education loan even if you belong to reserved category. The rate of interest of Andhra Bank Education loan is same for all category candidates whether you belong to reserved or non-reserved category. But, if you are a female candidate, you can get 0.50% concession on Rate of Interest of Andhra Bank Education loan.

Exemption in interest rate is available to those candidates whose family income is below 6 lacs per annum. If you come under non creamy layer, then get the income certificate of your family and submit to the bank from where you took the loan.
If you belong to a family whose income is below the given mark, then surely you will be eligible for subsidy in interest rate for education loan.