Education and Career Forum

Respected Sir, I am going to apply for an Education Loan of Allahabad Bank for studying MS in Abroad. But before that I want to know that is there any prepayment fine available in an educational loan scheme of this bank? If yes, then please let me know.

Originally Posted by Unregistered

Respected Sir, I am going to apply for an Education Loan of Allahabad Bank for studying MS in Abroad. But before that I want to know that is there any prepayment fine available in an educational loan scheme of this bank? If yes, then please let me know.

As per the details available, Allahabad Bank does not charge any prepayment fine (penalty) if prepayment of loan is made at any time during the repayment period.
Students can contact the Allahabad Bank branch for more details regarding prepayment fine. The repayment period under the Allahabad education loan scheme is up to 15 years. Allahabad Bank offers education loans to meritorious students for pursuing higher education in India and abroad countries.

There is no prepayment fine available under Allahabad Bank Education Loan for studying MS in Abroad. For loan up to Rs. 4 Lacs, no collateral security is required. You can get maximum Rs. 75 lacs of education loan from Allahabad Bank to study abroad. You should be an Indian national and have a secured admission to MS course in recognized institutions in Abroad through Entrance Test/ Merit Based Selection process.

For details:
https://www.allahabadbank.in/edu_loan.aspx

Originally Posted by Unregistered

Respected Sir, I am going to apply for an Education Loan of Allahabad Bank for studying MS in Abroad. But before that I want to know that is there any prepayment fine available in an educational loan scheme of this bank? If yes, then please let me know.

No such prepayment fine imposed by Allahabad Bank Education. You can pay your prepayment of loan any time within the repayment period. Please contact your nearest Allahabad Bank branch for more details regarding Education loan.

Official website - https://www.allahabadbank.in/edu_loan.aspx