Allahabad Bank offers students loans. Their Education loan scheme aims at providing financial assistance on reasonable terms:
To the poor and needy to undertake basic education.
To the meritorious students to pursue higher / professional / technical education
Eligibility Criteria of Education loan scheme
I) Courses Eligible
-a) 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.
-b)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/ equipments/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
Margin
Upto Rs.4.00 lacs NIL
Above Rs.4.00 lacs Studies in India 5%
Studies Abroad 15%
Scholarship/assistantship to be included in margin.
Margin may be brought-in on year to year basis as and when disbursements are made on a pro-rata basis.
Related Web Links:
http://www.allahabadbank.com |