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alahabad bank education loan for higher studies

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.for more details of  (alahabad bank education loan for higher studies) EASY EDUCATION LOAN  WITH LOW INTEREST  PLEASE GO WITH BELOW LINKS.


 alahabad bank education loan for higher studies

Eligibility :

alahabad bank education loan for higher studies

  • Any individual who has secured admission in a course run by Industrial Training Institutes (it is), Polytechnics or in a School recognized by Central or State Education Boards or in a College affiliated to recognized University, Training Partners affiliated to National Skill Development Corporation (NSDC) / Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a Certificate / Diploma / Degree issued by such Organization as per National Skill Qualification Framework (NSQF) is eligible for loan under the Scheme.
  • The Government of India / State Governments may, from time to time, notify Institutes / Organizations for this purpose, which will be advised accordingly.
  • Courses run by above mentioned Training Institutes aligned to National Skill Qualification Framework (NSQF) shall be covered by the “Skill Loan Scheme”.

Course Duration :

  • There is no specific restriction with regard to the age of the student to be eligible for skilling loan.

Minimum Age :

  • There is no specific restriction with regard to the age of the student to be eligible for skilling loan.
  • However, if the student is a minor, while the parent executes documents for the loan, the branches will obtain a letter of acceptance / ratification from him / her (student) upon attaining majority.

Purpose :

  • “Skill Loan Scheme” aims at providing a loan facility to individuals who intend to take up skill development courses as per the Skilling Loan Eligibility Criteria

Quantum of Finance :

  • Minimum quantum of finance is Rs. 5,000/- and maximum Rs.150,000/-.

alahabad bank education loan for higher studies

Margin :

  • 10% of loan amount (Maximum)

Rate of Interest*

  • BR+1.50% 1.00% interest concession, if interest is paid within the study & moratorium period

Processing Fee

Moratorium period :

  • 6 Months to 12 Months

Repayment Period:

  • Loans up to Rs.50000/- — up to 3 years
  • Loans above Rs.50000/- up to Rs.1.00 Lac — up to 5 years
  • Loans above Rs.1.00 Lac — up to 7 years


  • The loan documents should be executed jointly by the student and the parent (s)/ guardian as joint-borrower.
  • Up to Rs.4 Lac – no collateral security
  • Above Rs.4 Lac – (depending on the Course / Institutes) security varies from third party guarantee, co-obligation of parents, full collateral security

 HDFC Bank

   Axis Bank

   Karur Vyasa Bank

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