Education and Career Forum

Hello, I am preparing for CAT and other MBA entrance exams. My first preference is to get admission in IIM for PGDM course. For this, I have to take an education loan. So, I would like to know about the interest rates of Allahabad Bank for applying an education loan?

The interest rates for taking Education Loan from Allahabad Bank are:-

i) Upto 4 lakhs- 11.45%

ii) Upto 7.5 lakhs- 11.45%

iii) Above 7.5 lakhs- 10.95%

Interest rates under Allahabad Bank Education Loan to study PGDM in IIM is base rate +1.50%.
Repayment holiday / moratorium is course duration + 1 year or 6 months after getting job, whichever is earlier. Repayment tenure is 15 years after commencement of repayment period.

For more info;
https://www.allahabadbank.in/edu_loan.aspx

Interest rates under Allahabad Bank Education Loan to study PGDM in IIM are as follows:-
IIMs, ISBs, XLRI - Base rate + 1.50%
IITs, BITs and other premier engineering, management & medical institutions - Base rate + 2.00%
NITs, BITs and other reputed medical, management & engineering institutions - Base rate + 2.50%
Other colleges/ universities recognised by UGC/Govt./AICTE/AIBMS/ICMR etc. - Base rate + 3.00%
For students applying under the Management Quota - Base rate + 3.00%