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| COMPARE : EDUCATION LOANS |
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| Allahabad Bank Education Loan |
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| Introduction |
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| 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. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Post 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 |
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 |
| Loan Amount |
Min. - Rs 100000
Max. - Rs 400000
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Min. - Rs 100000
Max. - Rs 400000
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| Margin Money |
15 %
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5 %
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| Tenure |
Min. - 1 Yrs.
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Min. - 1 Yrs.
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| Interest Rate |
Loans Upto Rs. 4.00 lacs
For students of IIT / IIM - PLR - 2.00%
Other Professional Courses PLR - 0.50%
Girls students may be provided a special relief of 1.00% in all cases as above.
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Loans Upto Rs. 4.00 lacs
For students of IIT / IIM - PLR - 2.00%
Other Professional Courses PLR - 0.50%
Girls students may be provided a special relief of 1.00% in all cases as above.
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| Time to Process Loan |
7 days |
7 days |
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 Fees & charges
Fees & charges
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Eligibility Criteria
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Eligibility Criteria
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Study Abroad
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Study Abroad:
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| Age |
Min.: 16 Yrs. Max.: 55 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
No |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Study India
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Study India:
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| Age |
Min.: 16 Yrs. Max.: 55 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Security
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Security |
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For loan upto Rs 4.00 lacs: No collateral security is required.
For loan above Rs 4.00 lacs and upto Rs 7.50 lacs:
Satisfactory third party guarantee is required.
For loan above Rs 7.50 lacs:
(a) Collateral security of suitable value.
(b) Co-obligation of parents / guardian / third party alongwith assignment of future income of the student for payment of instalments |
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Terms & Conditions
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Terms & Conditions |
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Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier) |
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Show All Education Loans
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