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Allahabad Bank Education Loan Scheme
Posted Date: 15 Mar 2008 Resource Type: Articles/Knowledge Sharing Category: Educational Loans
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Posted By: Shinu Member Level: Gold
Rating:  Points: 3
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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
School education including plus 2 stage
Normal Graduation Courses B.A., B.Com, B.Sc, Microbiology, etc.
Post Graduation Course: Masters Courses, Ph.D, etc.
Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management (including Hotel Management), Computer/ Information Technology, Journalism & Mass Communication, etc.
Courses like: ICWA, CA, CFA, etc.
Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
Courses conducted in India by reputed Foreign Universities.
Evening courses of approved institutes.
Courses leading to diploma / degree etc. conducted by the Colleges/ Universities approved by UGC / Government/ AICTE / AIBMS / ICMR etc
a) The parent / guardian would become co-borrower with the students and application for education loan will also be signed by the parent / guardian alongwith the student while availing loan under Educational Loan Scheme.
b) Education Loan should be sanctioned through the branch situated close to the permanent residence / place of domicile of the borrower student.
c) Second time education loan is available for Higher studies / escalation of cost.
More details available at
http://www.allahabadbank.com/AllBEduLn.asp
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