Andhra Bank Education Loan

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Why Us?

Rates as low as 9.33%
Pre-Admission Loans
Study in India / Abroad
Doorstep Service
Unsecured Loan Available

Andhra Bank Education Loan

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

Andhra Bank Education Loan Features

  1. Amount of Loan
    1. for studying in INDIA: No Upper Limit.
    2. for studying ABROAD: No Upper Limit.
  2. Collateral security for availing of an education loan
    1. For Loans up to INR 7.5 Lakh – neither Collateral nor Third-Party Guarantee
    2. For Loans Above INR 7.5 Lakh – Yes, Any of the following collaterals: Residential Property, Andhra Bank Bank Fixed Deposit, LIC/NSC/KVP
  3. Loan possible up to tenure of 7 years, including moratorium time
  4. Repayment to start 1 year after course fulfilment / 6 months after obtaining employment (whichever is earlier).
  5. Loans are possible for short duration/ job oriented programs also.
  6. 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


Eligibility Criteria

Applicant’s Age

  • Non-employed personnel: Up to 35 years
  • Working employees: Up to 45 years

Who Can Apply?

  • An Indian National: With secured admission to professional courses in recognized colleges.
  • Permanent employees: Who are employed for not less than three years with any institution and have secured admissions in a reputed institute or who intend to acquire higher professional qualifications.

Maximum Loan Amount

  • In India: No Upper Limit.
  • In Abroad: No Upper Limit.

Frequency Of Repayment

  • Quarterly or monthly.
  • Starts 1 year after completing the course of six months after getting a job, whichever is first.
  • Loan interest re‐payment will start quickly after disbursement of the first installment of the loan.

Repayment Period

  • Tenure: Education Loan contains a period of Study, Grace Period after the Study, and Repayment time.
  • Indian courses: Repayment tenure is a max of 12 years after the beginning of repayment.
  • Abroad courses: Repayment tenure is a max of 12 years after the beginning of repayment.

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):

  • Passport
  • PAN Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving Licence
  • Photo Credit Card
  • Central and State Govt. issued Photo ID Proof
  • Defense ID Card.

Residence Proof

Documents for Residence proof(anyone):

  • Aadhaar Card
  • Electricity Bill
  • Ration Card
  • Passport
  • Voter’s ID Card
  • Letter from any recognized public authority
  • Telephone Bill
  • Bank Account Statement
  • Water Bill

Income Proof in case of salaried co-borrower

  • Salary Slips
  • bank account statement
  • Bank Statements
  • ITR
  • Form-16

Income proof for self-employed co-applicant

  • TDS certificate
  • Business address proof
  • IT returns for the last two years
  • Form 16A if applicable
  • Certificate of qualification
  • Bank account statement

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).


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.