{"id":181,"date":"2018-02-22T07:55:35","date_gmt":"2018-02-22T02:25:35","guid":{"rendered":"http:\/\/www.theteamwork.com\/finance\/?p=181"},"modified":"2018-02-22T22:37:47","modified_gmt":"2018-02-22T17:07:47","slug":"900073-andhra-bank-current-education-loan-interest-rates","status":"publish","type":"post","link":"https:\/\/www.theteamwork.com\/finance\/900073-andhra-bank-current-education-loan-interest-rates.html","title":{"rendered":"Andhra Bank – Current Education Loan Interest Rates"},"content":{"rendered":"

Andhra Bank – Current Education Loans or Student Loans Interest Rates<\/strong><\/p>\n

New Delhi (Delhi, India), February 22, 2018<\/p>\n

Andhra Bank Cuts Education Loan Interest Rate to 9.60% Per Annum<\/strong><\/p>\n

The Andhra Bank has decreased its education loan interest rates by 0.25 percent, or 25 basis points with effect from Monday, September 11, 2017.<\/p>\n

Andhra Bank has revised its minimum education loan interest rate from 9.85 percent to 9.60 percent per annum (MCLR-1Year + 1.20%) for female students and from 10.30 percent to 10.10 percent per annum (MCLR-1Year + 1.70%) for male students for the education loan amount above Rs. 7,50,000.<\/p>\n

Andhra Bank has also revised its minimum education loan interest rate from 10.15 percent to 9.90 percent per annum (MCLR-1Year + 1.50%) for female students and from 10.65 percent to 10.40 percent per annum (MCLR-1Year + 2.00%) for male students for the education loan amount up to Rs. 7,50,000.<\/p>\n

The education loans or student loans interest rate of Andhra Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Andhra Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.40 percent per annum with effect from Monday, September 11, 2017.<\/p>\n

Andhra Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail education loans for their higher studies.<\/p>\n

Andhra Bank Student Loan Scheme – Current Education Loan Interest Rates for Various Category of Borrowers<\/strong><\/p>\n

Andhra Bank Student Loan Scheme Interest Rate for Female Students:<\/strong><\/p>\n

9.90% Per Annum for Andhra Bank Education Loan Amount up to Rs. 4,00,000<\/p>\n

9.90% Per Annum for Andhra Bank Education Loan Amount Rs. 400,001 to Rs. 750,000<\/p>\n

9.60% Per Annum for Andhra Bank Education Loan Amount above Rs. 750,000<\/p>\n

Andhra Bank Student Loan Scheme Interest Rate for Male Students:<\/strong><\/p>\n

10.40% Per Annum for Andhra Bank Education Loan Amount up to Rs. 4,00,000<\/p>\n

10.40% Per Annum for Andhra Bank Education Loan Amount Rs. 400,001 to Rs. 750,000<\/p>\n

10.10% Per Annum for Andhra Bank Education Loan Amount above Rs. 750,000<\/p>\n

Andhra Bank Student Loan Rate of Interest is Floating or Fixed:<\/strong> Fixed Interest Rate (Reset Period 1 Year)<\/p>\n

Andhra Bank Education Loans Minimum Borrowing Amount:<\/strong> Minimum Education Loan Amount is Rs. 50,000<\/p>\n

Andhra Bank Education Loans Maximum Borrowing Amount:<\/strong> Maximum Education Loan Amount is Rs. 10,00,000 for studies in India and Rs. 20,00,000 for studies abroad.<\/p>\n

Andhra Bank Education Loan Margin Amount:<\/strong><\/p>\n

Minimum 0% Margin of the Education Expenses for Loan up to Rs. 4,00,000<\/p>\n

Minimum 5% Margin of the Education Expenses for Loan above Rs. 4,00,000 for Studies within India<\/p>\n

Minimum 15% Margin of the Education Expenses for Loan above Rs. 4,00,000 for Higher Studies Overseas.<\/p>\n

Andhra Bank Education Loan Mode of Loan Amount Disbursal:<\/strong> Direct Credit to the Student’s Educational Institute<\/p>\n

Andhra Bank Student Education Loan Processing Fee and Documentation Charges:<\/strong> 0.25% of the Loan Amount (Maximum Rs. 5,000 plus GST)<\/p>\n

Minimum Age Limit of Applicants for Getting the Andhra Bank Education Loan Sanctioned:<\/strong> Minimum Age 12 Years at the Time of Education Loan Commencement<\/p>\n

Maximum Age Limit of Applicants for Getting the Andhra Bank Education Loan Sanctioned:<\/strong> Maximum Age 30 Years for Non-Employed Personnels and 35 Years for Working Employees or Executives at the Time of Education Loan Commencement<\/p>\n

Maximum Tenure for the Andhra Bank Student Education Loan:<\/strong> Maximum Education Loan Tenure is 15 Years Post Moratorium Period<\/p>\n

Andhra Bank Student Education Loan Pre Closure Charges or Prepayment Penalty:<\/strong> Nil Charges or Penalty<\/p>\n

Andhra Bank Education Loan EMI Cheque, SI, or ECS Bounce Charges:<\/strong> Rs. 500 plus GST<\/p>\n

Charges for Andhra Bank Education Loan EMI Late Payment:<\/strong> Minimum 2% Per Month of the Andhra Bank Education Loan EMI Outstanding Amount (Minimum Rs. 500 plus GST)<\/p>\n

Guarantor Requirement for the Andhra Bank Education Loan:<\/strong> Guarantor is Required – The parent(s) or guardian of the student needs to be co-applicant(s) of the student loan<\/p>\n

Eligible Courses for the Andhra Bank Student Education Loan:<\/strong> Regular career-oriented full-time degree and diploma courses for studies in India and abroad.<\/p>\n

Andhra Bank – Deposits and Loans Interest Rates<\/strong><\/a>
\nCurrent Deposits and Loans Interest Rates of Andhra Bank<\/p>\n","protected":false},"excerpt":{"rendered":"

Andhra Bank has decreased its education loan interest rates by 0.25%, or 25 basis points with effect from Monday, September 11, 2017. This interest rate cut will reduce the cost of funds for those people who want to avail education loans for their higher studies.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[148,156,155,47,49],"class_list":["post-181","post","type-post","status-publish","format-standard","hentry","category-banking","tag-andhra-bank","tag-andhra-bank-education-loan","tag-andhra-bank-interest-rates","tag-current-interest-rates","tag-education-loan-interest-rates"],"_links":{"self":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts\/181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/comments?post=181"}],"version-history":[{"count":0,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts\/181\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/media?parent=181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/categories?post=181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/tags?post=181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}