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Andhra Bank signs MoU with ISB

HYDERABAD: Andhra Bank signed a memorandum of understanding with the Indian School of Business (ISB) offering education loans to its students without collateral security and at concessional fixed interest rate of 9 per cent. This will be for a loan of up to Rs.13 lakhs, and only a 10 per cent margin payment. T. S. Narayanasami, Chairman and Managing Director, said upon request, all existing education loans in ISB could be rewritten at the new rates. The bank proposes to extend loan packages to IIT, IIM and BITS Pilani students also. — Our Special Correspondent

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