Why For / Purpose / Objective:
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits. Air Passage and Maintenance, for Abroad studies
Eligibility Criteria:
Studies in India
- Must be an Indian National
- Must be over 18 years of age but within 30 years
- Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process.
- No minimum qualifying marks.
Studies in Abroad
- Must be an Indian National
- Must be over 17 years of age but within 35 years.
- Must have secured admission in Overseas College/ University/ Institution in any of the following disciplines
- Must be in possession of Admission confirmation letter from the concerned University.
- Must be in possession of a valid Passport and Visa.
Quantum/ Amount of Loan:
- Rs. 10.00 Lacs for studies in India
- Rs. 20.00 Lacs for Studies Abroad
Margin/ Allowance:
· Upto Rs.4.00 Lacs Exempted
· Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
AB Career Advancement Loan Scheme
For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)
Eligibility Criteria:
Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
Quantum/ Amount of Loan:
Maximum Rs. 7.50 Lakh
Margin / Allowance: 10%
Rate of Interest:
It is subject to change in BMPLR from time to time.
Repayment / Tenures:
Maximum 60 monthly installments commencing after one month from the date of advance.
Security:
NSCs, KVP, LIC policy surrender value, Govt. securities, Gold , Ornaments, Bank Deposits, Building/flat of Applicant /Co-obligant value not less than loan amount.
Other Requirements:
No objection certificate from the employer for prosecuting higher studies and to avail loan from the Bank.
Salary undertaking letter from employer for recovery of installments.
Undertaking letter from employer to adjust the dues to the bank from out of terminal benefits, of the employee if needed.
Contact:
Delhi Tel: 0124-2581934, 2581937,
Bangalore Tel: 080- 22959613, 22959615,
Chennai Tel: 044-25332940, 25332941,
Hyderabad Tel: 040-23468602, 23468598,
Kolkata Tel: 033-22891952, 22836809,
Mumbai Tel: 022-26876174, 26876181.
Website:
www.andhrabank.in
