Education Bank Loan in India : Andhara Bank

Dr Pattabhi Vidya Jyothi Scheme

Eligibility

Permanent employee of corporation, government, reputed Companies and the public sector with 10 years of the experience.

Details of Loan

Purpose:

The purpose of loan is for the student who studies with the supposed Institutes and International affiliations.

Quantum:

Quantum on maximum Rs.7.50 Lacs

Margin:

10 percent margin on the amount of loan

Collateral security:

KVP, NSCs, LIC policy surrender value, gold ornaments, govt. securities, building or flat of applicant, bank deposits, and co-obligant value not less than loan amount.

Gestation Period: 1 month

Disbursement

Period:

Maximum 60 installments monthly after 1 month from the advance date.

Prepayment Charges:

On the prepaid amount, 2 percent flat for all Loans and the repayment is fixed beyond thirty six months.

Other requirements:

• No objection certificate is required from the employer for indicting the higher studies and to benefit loan from Bank.
• For installments recovery, salary undertaking letter is important from the employer.
• For adjusting dues to bank, undertaking letter is necessary from the employer.

Details of Contact