Allahabad Bank Gyan Dipika Scheme

Organisation : Allahabad Bank
Facility : Gyan Dipika Scheme
Gyan Dipika Scheme : https://www.allahabadbank.in/
Website : https://www.indianbank.in/

Gyan Dipika Scheme :

Target Group :
Parents/ Guardians of students pursuing school education from Nursery standard to 12th Standard.

Related : Allahabad Bank Akshay Krishi Kisan Credit Card Scheme : www.statusin.in/19474.html

Eligibility Criteria :
** Should be an Indian national residing in India.
** Student should have secured admission to a Recognized/Affiliated and Reputed School/High School / Junior School / College (including CBSE/ICSE/State Board) for courses under Nursery standard to 12th Standard identified/ approved by the respective Zonal Office of the Bank.

Purpose :
** Admission fees including caution money, building fund, refundable other deposits, maintenance fees etc.
** Annual fees including Development fees, Examination fees, Library/ Laboratory fees, Hostel charges and other fees related to Hostels, purchase of Books, Equipment, Uniforms, Computer etc.
** Tuition Fees to be paid in advance on quarterly/half-yearly/yearly basis.

Loan Criteria :
Need based finance subject to the repaying capacity of the parents, Maximum limit limit of the quantum of finance – Rs.1 lac, including all types of expenses or any of the expenses under the scheme as mentioned above, Net combined income of the parents’/guardians’ should be above 40% of gross income, after considering the EMI of the proposed loan.

Loan Limit : Maximum Rs. 1,00,000/-
Margin : NIL

Repayment Period :
** The loan is repayable in three years by 36 Equal Monthly Installments to be paid by Post Dated Cheques (PDCs).
** However, if the loan is taken for quarterly/half yearly expenses, the repayment period would be adjusted in line with the periodicity of the expenses.
** First installment will be due in the next month after the last disbursement.

Security :
** No tangible/collateral security is required, However, a concession of 100 basis points would be allowed for 100% security cover of the loan amount by way of immovable property/other liquid security, Personal guarantee of the parents/guardian/s.
*Subject to Change without prior notice.

New Saral Loan :
Employees of those Organizations only whose salaries are being disbursed through our Bank Branches.

Eligibility :
** Minimum Gross Monthly salary of the proponent should be Rs.15000/- and he / she should be a permanent employee with a minimum 2 years service in the same Organization.

** The Organization proposed for designation must have strength of minimum 20 eligible employees. Minimum strength of 20 employee is not applicable for central /state government organization.

Age :
The age of the applicant should be minimum 21 years and loan should be repaid at least one year before his/her retirement from service.

Purpose :
** Loan may be utilized for the purpose of purchasing any consumer durable item / two wheeler, etc or any other tangible item(s) which can be validly hypothecated to the Bank and / or for meeting domestic, social, religious and other exigency expenses.

** However, for meeting domestic, social, religious and other exigency expenses, utilization of loan should not exceed 50% of the loan amount.

About Us :
To put the Bank on a higher growth path by building a Strong Customer-base through Talent Management, induction of State-of-the-art Technology and through Structural Re-organization.

To ensure anywhere and any time banking for the customer with latest state-of-the-art technology and by developing effective customer centric relationship and to emerge as a world-class service provider through efficient utilization of Human Resources and product innovation.

Contact Us :
Allahabad Bank Head Office,
2, N. S. Road, Kolkata -700 001
EPABX Nos.: 033 2242 0851 / 2242 3373