SVU, Andhra Bank ink pact for education loans

Tirupati, Jun 11: The Sri Venkateswara University(SVU) has signed a memorandum of understanding (MoU) with Andhra Bank to provide education loans to students.

Bank Chairman and Managing Director K Ramakrishnan said the bank will help at least 1,500 students obtain loans under the Dr Pattabhi Vidyajyothi Scheme at a cheaper rate of interest. The rate will be lower by one per cent for girl students.

Those securing admission to professional courses like MBA or MCA can get up to Rs three lakh as loans with ten per cent margin money.

In his address, SVU Vice Chancellor S Jayarama Reddy sought financial assistance from the bank for setting up technical park and pursuing other developmental activities.

UNI