Dr. Pattabhi Vidya Jyothi(Education Loan)

Eligibility

Must be an Indian National
Must be over 12 years of age but within 30 years
Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process.
No minimum qualifying marks.

Quantum of Finanace

Need based finance subject to repaying capacity of the parents/ students with a maximum of Rs. 10.00 lacs.

Margin

Upto Rs.4,00,000/- - NIL ; Above Rs. 4,00,000/- - 5%

Mode of Disbursement

The loan amount should be released in proportion to the number of years, depending upon the progress of the student. The scholar should produce a certificate from the competent authority for successful completion of academic year for further releases.

STUDIES ABROAD

Scope of the scheme

The scheme will apply to deserving/ meritorious students who wish to pursue studies abroad.


Quantum of Finance

Need based as informed in the admission/ confirmation letter of the University/ College, subject to a maximum of Rs. 20.00 lacs

Margin

Upto Rs. 4,00,000/- : NIL ; Above Rs. 4,00,000/- : 15%

Mode of Disbursement

Initially an amount equal to the cost of air passage and Foreign Exchange towards the payment of semester fee and hostel expenses as per admission card of the college. Further amounts will be released proportionate to expenses towards semester fees, hostel fees etc. on annual basis

At any point of time there should not be more than two loans outstanding in the name of the student under the scheme.

OTHER ASPECTS COMMON TO INLAND AND ABROAD STUDIES

Mode of Charging Interest

The interest to be debited monthly on simple basis during the repayment- holiday / gestation period.
The accrued interest during the repayment holiday period to be added to the principal and repayment in EMI fixed
Penal Interest: For the loans above Rs. 2.00 lacs penal interest at 2% be charged on the overdue amount for the over due period
Co-obligation


Collateral Security

Upto Rs.4.00 lacs – NIL
Rs. 4.00 lacs to 7.5 lacs – Co-obligation of parent/guardian/third party
Above Rs. 7.50 lacs – Tangible security of suitable value besides co-obligation of parent.Parent co-obligation and assignment of future income.
Holiday Period

1 year after course period or 6 months after getting job, whichever is earlier.

Repayment

The loan to be repaid in 5-7 years after commencement of repayment

Others

Only one loan will be sanctioned for abroad studies subject to a maximum of Rs. 20.00 lacs.


Contact us.
Website :

http://www.pilottraininginasia.com

http://www.pilottraininginasia.com/andhrabank

http://www.pilotsjobinasia.in

http://www.pilotsjobinasia.in/andhrabank
http://www.pilottraininginasia.in

http://www.pilottraininginasia.in/andhrabank

Email : andhrabank@pilottraininginasia.in