A) DR. PATTABHI VIDYA JYOTHI - LOAN SCHEME
1. Eligibility:
Age
3. Quantum of Loan Maximum :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
5. Margin :
6. Security:
7. Interest:
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES
Wherever Andhra Bank has entered into MOU with
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.
B) AB Career Advancement Loan Scheme (ABCALS)
Eligibility : Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
Purpose : 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.)
Amount of loan : Maximum Rs.7.50 Lakh
Margin : 10 %
Collateral 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.
Gestation Period : One month
Repayment period : Maximum 60 monthly installments commencing after one month from the date of advance.
Prepayment Charges : 2% flat on the prepaid amount for all Term Loans where the repayment is fixed beyond 36 months. i.e. installments paid ahead of repayment schedule.
Other requirements : i) No objection certificate from the employer for prosecuting higher studies and to avail loan from the Bank. ii)Salary undertaking letter from employer for recovery of installments. iii) Undertaking letter from employer to adjust the dues to the bank from out of terminal benefits, of the employee if needed,.
Age
- 12-30 years for studies in India
- 18 to 35 years for study in other countries
3. Quantum of Loan Maximum :
- Rs. 10.00 Lacs for studies in India
- Rs. 20.00 Lacs for Studies Abroad
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
5. Margin :
- Upto Rs.4.00 Lacs Exempted
- Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
6. Security:
- Upto Rs.4.00 Lacs guarantee of parent
- Rs.4.00 to 7.50 lacs - guarantee of the parent
- Above Rs.7.50 Lacs--Collateral Security of suitable value & guarantee of the parent
7. Interest:
- Upto Rs.4.00 Lacs--(BMPLR -1.25) - Presently 11.75%
- Above Rs.4.00 lacs--(BMPLR + 0.50) presently 13.50%
- Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES
Wherever Andhra Bank has entered into MOU with
- IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management Rate of Interest is 9 % fixed.
- ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
- GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC Center, Gurukulam)Hyderabad ; Balaji Society, Pune ; ICFAI Business School -Rate of Interest is (BMPLR-2.00) 11.00 % Floating
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.
B) AB Career Advancement Loan Scheme (ABCALS)
Eligibility : Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
Purpose : 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.)
Amount of loan : Maximum Rs.7.50 Lakh
Margin : 10 %
Collateral 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.
Gestation Period : One month
Repayment period : Maximum 60 monthly installments commencing after one month from the date of advance.
Prepayment Charges : 2% flat on the prepaid amount for all Term Loans where the repayment is fixed beyond 36 months. i.e. installments paid ahead of repayment schedule.
Other requirements : i) No objection certificate from the employer for prosecuting higher studies and to avail loan from the Bank. ii)Salary undertaking letter from employer for recovery of installments. iii) Undertaking letter from employer to adjust the dues to the bank from out of terminal benefits, of the employee if needed,.
No comments:
Post a Comment