Jagran Josh Logo

Allahabad Bank Education Loan

14-FEB-2011

Application of Interest | Repayment | Security | Mortgage Charges | Delivery Channel | Value added Service | Insurance | Others

Allahabad Bank Education Loan
Allahabad Bank Education Loan

Eligibility Criteria:

(a) Student eligibility:

  • Student be an Indian National
  • Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.


(b) Courses Eligible:

Studies in India

  • Graduation Courses- B.A, B.COM, B.Sc. etc.
  • Post Graduation Courses: Masters Courses, Ph D, etc.
  • Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
  • Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
  • Courses like- ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
  • Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/ Shipping, if the course pursued     abroad, the Institute should be recognised by the competent local aviation/ shipping authority.
  • Courses offered in India by reputed foreign universities.
  • Evening Courses of approved Institutes.
  • Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.

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.
  • Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.

Quantum of Loan:

Need based finance subject to repaying capacity of the parents / students with following ceilings:

  • Studies in India: Maximum Rs 10.00 lacs
  • Studies abroad: Maximum Rs. 20.00 lacs.

Expenses Considered for Loan

  • Fee payable to College / School /Hostel
  • Examination/Library/Laboratory Fee
  • Purchase of Books / Equipments/ Instruments/ Uniforms.
  • Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course.
  • Travel Expenses/Passage Money for studies abroad.
  • Purchase of Computers essential for completion of the course.
  • Insurance premium for student borrower.
  • Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc.

Margin

  • For loan upto Rs 4.00 lacs: NIL

            (i) Studies in India: 5%
           (ii) Studies abroad: 15%

  • Scholarship / Assistantship to be included in Margin.
  • Margin Money to be brought on year-to-year basis and disbursements are made on a pro-rata basis.
  • For loan above Rs 4.00 lacs.

Related Searches Allahabad Bank,  Education Loan,  Margin,  Security for loan
Post Comment
Comment

NAMRATA SINGHA,

Fashion Design Course in NIFT Delhi

NAMRATA SINGHA,

Fashion Design Course in NIFT Delhi

NAMRATA SINGHA,

want to NIFT course in Fashion Design

NAMRATA SINGHA,

Want to undergo Fashion Design Course at NIFT

Stay Connected

Subscribe Newsletter

Straight To Your Inbox
or
LikeJagranjosh on Facebook!

Register to get FREE updates

(Ex:9123456789)
Please Select Your Interest
By clicking on Submit button, you agree to our terms of use
Newsletter Signup
Follow us on