‘Andhra Bank Education Loan Application Form’ PDF Quick download link is given at the bottom of this article. You can see the PDF demo, size of the PDF, page numbers, and direct download Free PDF of ‘Andhra Bank Education Loan Application Form’ using the download button.
Andhra Bank Education Loan Application Form PDF Free Download
Andhra Bank Education Loan Application Form
An Education loan is a loan or funds acquired by an individual to pursue higher studies in India or abroad.
The loan repayment commences for the student after completing the education and a period of 6 months is given as a grace period for students to get or join a job.
The repayment amount will be determined by your choice of interest, you need to decide how you want to repay the loan.
That is if you want to start paying during the time of the moratorium period itself or after the moratorium period.
The Moratorium period is the time of your education plus 6 months or 1 year given to get a job. It is only after this time that you are expected to pay the loan.
The loan interest starts to accrue at the time of dispersal of funds, so at the time of your graduation you have a huge amount to repay.
The other option is your parents or guardian can start paying the loan during the moratorium period itself where it is calculated as a simple interest.
This way your loan amount at the time of graduation is drastically reduced.
There are 4 types of education loans in India
1. Under Graduate education loan – These are given to students who have completed their secondary education and looking to do higher studies in the form of under graduation. It can be done in India or abroad.
2. Postgraduate education loan – These are education loans given to individuals who want to pursue post-graduation after completing under graduation course from a reputed university/college. Here also the loan can be for studying in India or abroad.
3. Parents availing of education loans – This is the case where the parents take loans for the educational purposes of their children. This is an unsecured loan and need not be for graduate or post-graduation courses but also for elementary and higher secondary courses.
4. Career growth education loans – These are loans provided to young people who want to pursue courses or training, and certifications that will benefit their career growth.
| Language | English |
| No. of Pages | 3 |
| PDF Size | 0.03 MB |
| Category | Form |
| Source/Credits | www.unionbankofindia.co.in |
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Andhra Bank Education Loan Application Form PDF Free Download