18 July 2012

Allahabad Bank Education Loan Online Application Form,Interest Rate,Abroad

Allahabad Bank Education Loan Online Application Form,Interest Rate,Abroad : 1.Allahabad Bank Education Loan will be providing education study loan for India, Abroad for college students. So All the interest Candidates to follow the Interest rate, Criteria, EMI Calculator, Procedure to below will providing.

2.Allahabad Bank Education Loan official Website @ www.allahabadbank.com

3.Allahabad Bank Education Loan Eligibility Criteria:

(A)Allahabad Bank Education Loan Student eligibility: (a)Student be an Indian National
(b)Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.

4.Allahabad Bank Education Loan Courses Eligible for Student It is very important:

5.Allahabad Bank Education Loan providing Studies in India

(a) Graduation Courses- B.A, B.COM, B.Sc. etc.
(b) Post Graduation Courses: Masters Courses, Ph D, etc.
(c) Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
(d) Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
(e) Courses like- ICWA, CA, CFA etc.
(f) Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
(g) 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.
(h) Courses offered in India by reputed foreign universities.
(i) Evening Courses of approved Institutes.
(j) Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.

6.Allahabad Bank Education Loan Studies Abroad:

(a) Graduation: For Job oriented professional, technical courses offered by reputed Universities.
(b) Post Graduation: MCA, MBA, MS etc.
(c) Courses conducted by CIMA London, CPA in USA etc.
(d) Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.

7. Allahabad Bank Education Loan Quantum of Loan: Need based finance subject to repaying capacity of the parents, students with following ceilings:

8. Allahabad Bank Education Loan Studies in India wil be given loan Maximum Rs 10.00 lacs

9. Allahabad Bank Education Loan Studies abroad will be given load Maximum Rs. 20.00 lacs.

10. Allahabad Bank Education Loan Margin For loan upto Rs 4.00 lacs: NIL
For loan above Rs 4.00 lacs: (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.

11. Allahabad Bank Education Loan Application of Interest: Simple interest during moratorium period.Service interest during moratorium period regularly and avail a special discount of 1.00% in interest rate.

12. Allahabad Bank Education Loan Repayment: Repayment Holiday / Moratorium is Course Period + 1 year or 6 months after getting job, whichever is earlier.
Loan to be repaid within a maximum period of 7 years after commencement of repayment

13. Allahabad Bank Education Loan Security: For loan upto Rs 4.00 lacs: Co-obligation* of parents, guardian. No security

For loan above Rs 4.00 lacs and upto Rs 7.50 lacs: Co-obligation of parents, guardian together with collateral security in the form of suitable third party guarantee.

For loan above Rs 7.50 lacs: Co-obligation of parents, guardian together with tangible collateral security of suitable value covering full loan amount, alongwith the assignment of future income of the student for payment of installments.

NOTE: (The loan documents would be executed by both the student and the parent/ guardian as joint-borrower i.e. co-obligator. The co-obligator should be parent / guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law.)

14.For More Details Please Visit official web site @ www.allahabadbank.com/education.asp
Allahabad Bank Education Loan Online Application Form,Interest Rate,Abroad
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