ALLAHABAD BANK STUDENT LOAN Schemes

Eligibility Criteria of Education loan scheme

1. Courses Eligible

1. Studies in India

* School education including plus 2 stage.
* Graduation courses: BA, B.Com., B.Sc., etc.
* Post Graduation courses: Masters & Ph.D.
* Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
* Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
* Courses like ICWA, CA,CFA, etc.
* Courses like IIM, IIT, IISc, XLRI, NIFT, etc.
* Courses offered in India by reputed foreign universities.
* Evening courses of approved institutes.
* Other courses leading to diploma/degree etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ICMR etc.
* Courses offered by National Institutes and other reputed private institutions . Banks may have the system of appraising other institution courses depending on future prospects/recognition by user institutions.

2. STUDENT LOAN FOR STUDIES ABROAD

* 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.

2. Eligibility

* Should be an Indian National
* Secured admission to professional/technical courses through Entrance Test/ Selection process.
* Secured admission to foreign university/Institutions.

3. Expenses considered for loan:

* Fee payable to college/ school/ hostel.
* Examination/ Library/ Laboratory fee.
* Purchase of books/ equipment’s
/ instruments/ uniforms.
* Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipt.
* Travel expenses/ passage money for
studies abroad.
* Purchase of computers-essential for completion of the course.
* Any other expenses required to complete the course- like study tours, project work, thesis etc.

Quantum of Finance

Need based finance subject to repaying capacity of the parents/students with following margin and ceilings.

Studies in India - Maximum Rs.7.50 lacs

Studies abroad - Maximum Rs.15.00 lacs

For further details, Please visit Allahabad bank Education Loan Site

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