With the starting up of new session of the colleges Andhra Bank has launched its awareness program on educational loans. Bank on Wednesday started its program at Sri Venkateswara Government Polytechnic, the venue of Eamcet counseling.
At the launch of the program Andhra Bank Chief Manager YH Ramakrishna said the bank has introduced Pattabhi Vidya Jyothi Scheme with an aim to provide loans to students for pursuing higher education. A sum of Rs 1,000 crore was lent last year under the scheme.
Last year in Tirupati Zone comprising Chittoor, Nellore and Kadapa districts, the bank has issued loans to the tune of Rs 25 crore last year. For women students, the bank is charging 0.05 per cent interest rebate.
The students have to repay the loan amount one year after the completion of the course or six months after employment whichever is earlier. The awareness camp will be working till August 7. During the launch of the program senior manager Suresh and bank officer Ravikumar were also present.
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