Andhra Bank
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Toll Free Number: 1800 425 1515

Call 040-23122297 for Internet & Mobile Banking/ATM -24x7 Helpdesk or mail to us on adchelpdesk@andhrabank.co.in

 
 
Education Loans
 
Courses eligible
 
  • Studies in India: (Indicative list)

    1. Approved courses leading to graduate/ post graduate degree and P G diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt./AICTE/ AIBMS/ ICMR etc. Courses like ICWA, CA, CFA etc.
    2. Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.
    3. Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. Air Craft Maintenance Engg, Pre-Sea Training courses must be either a degree course recognized by a competent University or Diploma course recognized by appropriate State Govt. body to be eligible for considering loan.
    4. Approved courses offered in India by reputed foreign universities.
    5. Nursing Courses and Para Medical courses offered by approved institutes including admissions through management quota. The fee considered for finance is restricted to fee structure as approved by the State Government or regulatory body.
    6. Any other course offered by institutes of repute with assured employment potential for the students and where the degrees/diplomas /certificates issued by such institutes have due recognition by Govt. Of India/State Govt./Academic Bodies duly constituted by State/Central Govt .
    7. The list of courses contained in the websites www.ugc.ac.inwww.education.nic.inwww.aicte.org.inare considered to be eligible courses. 
    8. Off campus courses and onsite/partnership programs are not eligible for educational loans.
    9. Education loans for Research work to the students with masters degree and is admitted as research scholar in Universities/Research institutes having due recognition.
    10. Education loan for Home Study/Correspondence courses with contact classes or Coaching classes will not be considered.


  • Studies abroad

    1. Graduation: For job oriented professional/ technical courses offered by reputed universities.
    2. Post graduation: MCA, MBA, MS, etc.
    3. Courses conducted by CIMA- London, CPA in USA etc. Degree/diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.
    4. Job oriented Diploma and certificate courses pursued abroad after completion of Graduation Course in India
    5. Reference to other courses approved for financing are as indicated in www.webometrics.info.
    6. Diploma courses and certificate courses have not been included as eligible courses for the scheme. Post graduate studies leading to PG degrees and PG diplomas offered by reputed institutes/universities will be covered under the scheme.
 
 Expenses considered for loan
 
  • Fee payable to college/ school/ hostel*
  • Examination/ Library/ Laboratory fee
  • Travel expenses/ passage money for studies abroad
  • Insurance premium for student borrower, if applicable
  • Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. **
  • Purchase of books/ equipments/ instruments/ uniforms***
  • Purchase of computer at reasonable cost, if required for completion of the course***
  • Any other expense required to complete the course - like study tours, project work, thesis, etc***
  • In respect of Degree level courses in Non Technical and Non Professional courses the aggregate of all expenses considered for finance should not exceed Rs.1 Lakh for the total course .
    Notes :-
  • Reasonable lodging and boarding charges will be considered in proportion to the course cost incase the student chooses/ is required to opt for outside accommodation.
 
 Quantum of Finance
 
  • Need based finance to meet the expenses worked out as above will be considered taking into account margins. No specific upper limit is suggested.
  • In case of studies abroad, part cost of the study can be considered for finance as requested by the student duly taking into consideration part time jobs as permitted by the institutes to part fund the course costs.
 
 Margin

Upto Rs..4 lacs   Nil
Above Rs. 4 lacs Studies in India 5%
  Studies Abroad 15%
  • Scholarship/ assistantship to be included in margin.
  • Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
 
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