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Education Bank Loan in India : Andhara Bank


AB Career Advancement Loan Scheme (ABCALS)

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




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