Andhra Bank has slashed interest rates for fresh education loans. As per the revision for educational loans between Rs 4 lakh and Rs 7.5 lakh, the interest rate has been reduced from 14.25% to 13.25%. Loans over Rs 7.5 lakh will carry a lower rate of 12%, down from the 13.25%.
The bank is offering a further concession of 0.50% for girl students. Also, to encourage meritorious students, an interest concession of 0.50% has been introduced on education loans his is for students securing 90% or above at 10th level. In respect of loans for pursuing PG courses, a similar interest rebate of 0.50% cent is allowed to students who secured 80% or above at degree or graduation level examination,
