Andhra Bank Education Loan Summary Table
| Andhra Bank Education Loan Amount | For India – No Upper Limit. For Abroad – No Upper Limit. |
| Andhra Bank Education Loan Interest Rate | 10.25% per annum |
| Andhra Bank Education Loan Margin | For loan above INR 4 Lakhs In India: 5% In abroad: 15% |
| Andhra Bank Education Loan Processing Fee | Up to INR 4 Lakhs: Nil Above INR 4 Lakhs: collected initially, refunded after the loan is sanctioned |
| Andhra Bank Education Loan Security | Up to 7.50 Lakhs: Only Parent/Guardian as co-borrower. No Collateral or third party guarantee
Above INR 7.50 Lakhs: security with parents as co-borrower |
| Andhra Bank Education Loan Repayment | Starts After 1 year of course completion or 6 months after getting the job |
Andhra Bank Education Loan Features
- Amount of Loan
- for studying in INDIA: No Upper Limit.
- for studying ABROAD: No Upper Limit.
- Collateral security for availing of an education loan
- For Loans up to INR 7.5 Lakh – neither Collateral nor Third-Party Guarantee
- For Loans Above INR 7.5 Lakh – Yes, Any of the following collaterals: Residential Property, Andhra Bank Bank Fixed Deposit, LIC/NSC/KVP
- Loan possible up to tenure of 7 years, including moratorium time
- Repayment to start 1 year after course fulfilment / 6 months after obtaining employment (whichever is earlier).
- Loans are possible for short duration/ job oriented programs also.
- Avail of the tax rebate, granted under section 80-E of the Income Tax Act 1961* for the entire interest amount paid towards your education credit.
Andhra Bank Education Loan Eligibility Criteria
Parameters |
Eligibility Criteria |
Applicant’s Age |
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Who Can Apply? |
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Maximum Loan Amount |
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Frequency Of Repayment |
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Repayment Period |
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Andhra Bank Education Loan Interest Rates
| Scheme | Maximum Loan Amount | Interest rate (p.a.) |
| Andhra Bank’s Education Loan for Indian | No Upper Limit. | 9.55% – 13.25% |
| Education loan for Foreign Education | No Upper limit | 9.55% – 13.25% |
Andhra Bank Education Loan Schemes with detailed features, docs, max loan, courses
| Schemes | Maximum Loan Amount | Interest Rates |
| Andhra Bank Student Loan | Rs.20 lakh | 10.05% |
| Andhra Bank Scholar Loan | Rs.40 lakh | 8.95% to 9.25% |
| Andhra Bank Global ED-Vantage | Rs.1.5 crore | 10.05% |
| Andhra Bank Skill Loan | Rs.1.5 lakh | 9.55% |
| Andhra Bank Take Over of Education Loan | Rs.1.5 crore | 10.05% |
Andhra Bank Education Loan Documents Required
Below Know Your Customer Policy (KYC), the bank needs certain documents.
Identity Proof |
Documents for Identity proof( anyone):
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Residence Proof |
Documents for Residence proof(anyone):
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Income Proof in case of salaried co-borrower |
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Income proof for self-employed co-applicant |
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Additional documents: Aside from KYC documents:
Student Applicant |
Admission Proof: A conditional application letter may be taken |
| Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that form the basis of admission | |
| Mandatory Passport submission | |
| Cost of education, schedule of expenses. | |
| 2-passport size photographs | |
| loan account statement for the last 1 year(If the loan was taken out before). | |
Co-applicant |
2-passport size photographs |
| loan account statement for the last 1 year(If the loan was taken out before). |
EMI Calculator
You can check the EMI for Andhra Bank education loans by clicking on EMI Calculator.
Andhra Bank: Takeover of Education Loan
An Education Loan is Portable, it is essentially a process of transferring high-interest mortgages from one to another bank and with a lower interest rate and better repayment plans.
The Andhra Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. Andhra Bank also gives a 0.50% grant in the interest rate for girls.
How To Apply For Andhra Bank Education Loan
- Visit Dialabank for an education loan.
- Go to the Andhra Bank Education Loan side.
- Inspect all the eligibility and papers guidelines for an education loan.
- Fill out all the details required in the Education Loan application form.
- Once the documents are submitted, our agent will contact you soon.
List of Approved Institutes
- Architecture college
- Law college
- Medical college
- Pharmacy college
- Bio-technology
- college
- Management college
- Engineering college
- Science, Commerce, and Arts college
- Physical education college
- B.ED college
FAQs For Andhra Bank Education Loan
✅ How is the EMI calculated for an Education Loan?
The EMI on your education loan can be calculated with the help of this mathematical formula: EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. As EMIs are paid off every month, the duration is calculated for the number of remaining months.
✅ Is a guarantor required for an Education Loan?
Since the student who is taking the education loan can’t pay it off until he gets a job, the bank usually takes the parent or guardian as the guarantor. The bank also verifies the CIBIL score and the credit history of the guarantor before giving the loan to the student.
