Student Loans by Punjab and Sind Bank
Candidate’s Eligibility
Candidates applying for the education loan need to satisfy certain
eligibility criteria as specified by the Punjab and Sind Bank
- Applicants should be Indian Nationals
- Candidates
will be considered eligible if they get admission to various courses
through entrance examination or a selection process based on merit.
Courses Eligible for Punjab and Sind Bank Education Loans
There are plenty of courses, which are considered eligible for the Punjab and Sind Bank student loan.
Studies in India
Various
graduation, post graduation and professional courses in the areas of
Management, Medicine, Dental Science, Veterinary Science, Agriculture
and others. Computer certificate courses offered by renowned institutes
approved by the Department of Electronics or certified by the
University, are also eligible.
IIM, XLRI, IIT -courses, evening
courses, regular diploma and degree courses as well as courses like
CFA, ICWA, CA are eligible for the Punjab and Sind Bank student loan.
Studies Abroad
Job oriented graduation courses, post graduation courses and courses conducted by CPA-USA and CIMA-London.
Expenses Covered by Punjab and Sind Bank education loans
The
education loan offered by Punjab and Sind Bank covers examination fee,
tuition fee, expense of educational tours, hostel charges, cost of
purchasing books and refundable deposits. The loan also includes travel
expenses and passage money of students traveling abroad.
Quantum of Finance
A maximum education loan amount of Rs.7.5 lacs and Rs.15 lacs are offered for studies in India and abroad respectively.
Margin
There
is no margin for loan amount up to Rs.4 lacs. For education loans above
Rs. 4 lacs, the margin is 5% (studies in India) and 15% (studies
abroad) respectively.
Security
Punjab and Sind Bank demands various kinds of securities for issuing education loans.
Loans more than Rs.4 lacs- A collateral security
Loans more than Rs. 7.5 lacs- collateral security or guarantee of third party.