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Eligibility Criteria:
Studies in India:

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 / 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

Quantum of Loan:

Need based finance subject to repaying capacity of the parents/ students with following
ceilings:

Studies in India: Maximum Rs 7.50 lacs

Studies abroad: Maximum Rs.15.00 lacs

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 as and disbursements are made
on a pro-rata basis

Rate of Interest:

Loans Upto Rs. 4.00 lacs

For students of IIT / IIM PLR - 1.00%
Other Professional Courses PLR - 0.50%
For Others PLR
Loan above Rs. 4.00 lacs
For Students of IIT / IIM PLR
Other Professional Courses PLR
For Others PLR

Girls students may be provided a special relief of 1.00% in all cases as above.

Application of Interest:

Simple rate of interest will be applied during course / moratorium period and thereafter
the entire outstanding interest (if servicing of interest not done during moratorium
period) will be added back to the principal account and compound interest (with
monthly rest) will be applied in the account till liquidation of the entire loan.

0.5% rebate will be allowed during moratorium period in case interest is serviced
regularly

Repayment:

Repayment Holiday / Moratorium is Course Period + 1 year (in case job is not obtained)
or 6 months after getting job, whichever is earlier.

Loan to be repaid within a maximum period of 7 years after commencement of

repayment.

Security:

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

Processing Fee:

Nil

Others

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

Group Life Insurance cover

Under the plan a low cost group life insurance cover will be provided for
the loan liability of Educational Loan borrowers (students) during entire
period of loan (i.e., course period & moratorium period plus repayment
period), in case of his unfortunate death. Click here for more

Capability Certificate

Some of the foreign universities require the students to submit a certificate from their
bankers about the sponsors’ solvency/financial capability , with a view to ensure that the
sponsors of the students going abroad for higher studies are capable of meeting the
expenses till completion of studies. Accordingly branches can also issue the capability
certificate for students going abroad for higher studies. For this financial and other
supporting documents may be obtained from applicant, if required.

Online Sanction

Online sanction of study loan facility is available for the students opting for professional
courses offered by the following institutes

S.N. Institute Branch

1 IIM Ahmedabad SP Nagar Ahmedabad
2 IIM Bangalore Jayanagar Bangalore
3 IIM Calcutta Alipore Calcutta
Embassy Towers
4 IIM Indore
Indore
5 IIM Lucknow Aliganj Lucknow
6 IIM Calicut Calicut
7 IIT Chennai Adyar Chennai
Ananlok &Adhchini
8 IIT Delhi
New Delhi
9 IIT Guwahati Pan Bazar Guwahati
10 IIT Kanpur Lakhanpur Kanpur
11 IIT Kharagpur Rly Market Kharagpur
12 IIT Mumbai Ghatkopar Mumbai
13 IIT Roorkee Roorkee
14 IIT Varanasi Brij Enclave Varanasi
15 IIS Bangalore KG Road Bangalore
16 Jamunalal Bajaj Intt of Mgt Science Fort, Mumbai
17 XLRI Jamshedpur Bistupur Jamshedpur
18 Indian School of Mines Dhanbad Dhanbad
AMITY Delhi (Ritnand Balved Edu. South Extension New
19
Foundantion) Delhi
AMITY Noida (Ritnand Balved Edu.
20 Noida
Foundantion)
AMITY Lucknow (Ritnand Balved Edu.
21 Ujariyawan Lucknow
Foundantion)
AMITY Jaipur (Ritnand Balved Edu.
22 Tonk Road Jaipur
Foundantion)
AMITY Bhubaneshwar (Ritnand Balved Edu. Nayapalli
23
Foundantion) Bhubaneswar
24 Symbiosis Pune Pune
25 Faculty of Management Studies Delhi South Extension Delhi
Narsee Moonjee Institute of Mgt Studies
26 Ghatkopar Mumbai
Mumbai
27 National Instt. of Planning & Mgt. Delhi South Extension Delhi
28 Loyola Instt. of Bus. Adm. Chennai Advar Chennai
N.Y. Market
29 Xavier Instt. of Mgt. & Technology Ghaziabad
Ghaziabad
30 Mgt Development Instt Gurgaon Gurgaon
Nayapalli
31 XIM Bhubneswhwar
Bhubaneswar
32 PSG Institute of Management Coimbatore
33 ICFAI Business School Hyderabad Hyderabad Main
34 Tata Instt. of Social Scinces, Mumbai Ghatkopar Mumbai
35 Nirma Instt. of Management Ahmedabad SP Nagar Ahmedabad
36 Indian School of Business, Hyderabad Hyderabad Main
37 IISWBM, Kolkata Alipore Kolkata
38 IIFT, Delhi ADCHINI Delhi
39 SP Jain Intt. of Mgt & Research, Mumbai Ghatkopar Mumbai
KJ Somaya Intt of Mgt Studies& Research
40 Ghatkopar Mumbai
Mumbai
41 DEI Agra Agra University
42 AVV Coimbatore Coimbatore
43 BC Pune Pune
44 Aihshew Coimbatore Coimbatore
45 SPA Delhi South Extension Delhi
46 GKV Haridwar Haridwar
47 Jamia Hamdard Delhi South Extension Delhi
 Shri Mata Vaishnoa Devi University, Jammu
48 Jammu
Tawi
49 MGR ERI Chennai Adyar Chennai
Mody Instt. of Tech and Science,
50 Tonk Road Jaipur
Lakshmangarh Sikar Rajasthan
51 TIEY Patiala Patiala
52 BITS Pilani Tonk Road Jaipur
53 BIT Ranchi Ranchi
SRM Instt. of Science and Technology,
54 Advar Chennai
Chennai
55 Sikkim Manipal Instt of Technology, E Sikkim Gangtok
56 SIST Chennai Adyar Chennai
57 SASTRA Thanjavur Adyar Chennai
58 VIT Vellore Adyar Chennai
59 IIIT Alallahabad Civil Lines Allahabad
60 ABV-IIITM Gwalior Gwalior
61 IIIT Hyderabad Hyderabad Main
62 NIT ALLAHABAD Civil Lines Allahabad
63 NIT Bhopal Arera Colony Bhopal
64 NIT Calicut Calicut
65 NIT Durgapur Durgapur
66 NIT Hamirpur Hamirpur
67 NIT Jaipur Tonk Road Jaipur
68 NIT Jalandhar Civil Lines Jalandhar
69 NIT Jamshedpur Bistupur Jamshedpur
70 NIT Kurukshetra Kurukshetra
71 NIT Nagpur Civil Lines Nagpur
Patna University
72 NIT Patna
Branch
73 NIT Rourkela Rourkela
74 NIT Silchar Silchar
75 NIT Surathkul Mangalore
76 NIT Srinagar Jammu
77 NIT Surat Nanpara Surat
78 NIT Tiruchirappalli Trichy
79 NIT Warangal Warangal
80 IICT Bhadohi Bhadohi
81 Punjab University, Chandigarh Chandigarh Main
82 NIFFT Ranchi Ranchi Main
83 Ready to Go? Animate - A Machino, Kolkata
84 International Institute of Information Pune
Technology (I2 IT)
 85 Kalinga Institute of Technology (KIIT) Bhubaneswar

Other Institutes

For students of other institutes, study loans are available from all branches of
Allahabadbank.
Click here for printable Application Form.

Click here for online application form (study loan)

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