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Allahabad Bank -Education Loan

The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. At that juncture Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries – Nineteenth, Twentieth and Twenty-First.

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.
Education Loan
For IIT/ IIM/ ISB (loan upto 10.00 Lacs)
For Other Loan upto 4.00 Lacs
For loan above Rs.4.00 Lac
PLR-1.75%

PLR-0.75%
PLR-1.00%

@ Girl students rebate of 1.00%
@ Rebate of 1.00% if interest is serviced during moratorium
Online Application form for Students of IITs/ IIMs and other leading Institutions
Downloadable Application form for students of other institutions
Group Life Insurance Plan (in tie-up with LICI)

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