COMPARE : EDUCATION LOANS
Allahabad Bank Education Loan
Introduction
Allahabad Bank offers financial support to aspiring students who seek higher studies in India or abroad. The aspirant must have secured admission in professional / technical course through entrance test or merit based selection procedure. The bank also offers ‘Group Life Insurance’ cover facility for the students.
Highlights
  Study Abroad Study India
Course Graduation Graduation
Loan Type Term Loan Term Loan
Loan Purpose Graduation: For Job oriented professional/technical courses offered by reputed Universities.
Post Graduation: MCA, MBA, MS etc.
Courses conducted by CIMA London, CPA in USA etc.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute duly recognized by the Competent University/ State Body/ Local Aviation/ Shipping Authority.
Loan for approved courses leading to Graduate/ Posy-Graduate degree and P.G. Diplomas conducted by recognized Colleges/ Universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc and for
Courses like ICWA, CA, CFA etc and for
Courses conducted by IIMs, IITs/ IISc, XLRI, NIFT, NID etc and for
Regular Degree/ Diploma Courses like Aeronautical, Pilot Training, Shipping etc. approved by Director General of Civil Aviation/ Shipping and for approved courses offered in India by reputed Foreign Universities.
Loan Amount Min. - Rs 100000
Max. - Rs 2000000
Min. - Rs 100000
Max. - Rs 1000000
Margin Money For loan upto Rs 4.00 lac: NIL
For loan above Rs 4.00 lac is 15%
No margin money on loans up to Rs 4.00 lacs
For loans above Rs 4.00 lacs: 5%
Tenure Min. - 1 Yrs.
Max. - 15 Yrs.
Min. - 1 Yrs.
Max. - 15 Yrs.
Interest Rate • 0.50% rebate for girl students
• 1.00% interest concession will be allowed if interest is paid within the study & moratorium period
Generally the rate lies btw 11.75% - 12.75%
• 0.50% rebate for girl students
• 1.00% interest concession will be allowed if interest is paid within the study & moratorium period
Time to Process Loan 7 days 7 days
 Fees & charges
 Eligibility Criteria
 Security
 Terms & Conditions
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