Education and Career Forum

I have searched alot and got information about the education loan of Andhra Bank. I want to take an Education Loan for studying Abroad. But in Andhra Bank Education Loan Scheme, I didn’t understand about the moratorium period. Can anyone of you let me know about this term under this education loan scheme?

°°° The Moratorium period is one year after completing the course of six months after getting a job.
The parents or The Guardian will be the co-applicant of the loan and the primary debtor.
There are no processing fees for availing Andhra Bank education loan.

Loan tenure - Upto 15 years

Interest rate - Base rate 10.25%

°°° For more information you can visit the official website
http://unionbankofindia.co.in

The period of Andhra Bank education loan scheme is one year after completing the course or six months after getting a job.

Security : The parents of the Guardians will be the co-applicant or the loan and the primary debtor.

Processing fee :There are no processing fees for availing Andhra Bank education loan.

Loan tenure : Up to 15 years

Interest rate : 10.25%

Moratorium Period of Andhra Bank Education Loan Scheme for Abroad studies is ;
Course period + 1 year Or 6 months after getting job.
Whichever is earlier.

Repayment period is 5_7 years.

Margin money involved:_
Upto 4 lacs- Nil
Above 4 lacs- 15%