Chaitanya Godavari Grameena Bank – Education Loan

By | March 29, 2011

Chaitanya Grameena Bank and Godavari Grameena Bank sponsored by Andhra Bank merged to form a single Regional Rural Bank with its Head Office at Guntur, Andhra Pradesh. Chaitanya Godavari Grameena Bank was thus established on 01.03.2006.

Purpose: This education loan finances higher studies in India and abroad.


Eligibility: The applicant must be an Indian citizen of within ages of 16 to 30 and must have secured admission for the higher studies. In case of studies abroad, the applicant must have a valid visa and passport also.


Quantum of Loan: The maximum amount that can be granted as loan is decided on the repayment capacity of the student and/or parent. The maximum loan granted for studies in India is Rs. 7.5 lakhs and for studies abroad is Rs. 15 lakhs. Cost of computer up to Rs. 50,000 may be considered in some cases.


Margin: Up to loans of Rs. 4 lakhs there is no margin. There is a margin of 5% for studies in India and 15% for studies abroad in case of loans above Rs. 4 lakhs.


Repayment: Repayment has to be done in 60 Monthly Installments after a holiday period of 1 year after course period or 6 months after getting job, whichever is earlier.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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