Punjab And Sind Bank Education Loan

Punjab and Sind Bank was founded in the year 1908 with the far-sighted vision of luminaries like Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh. Today Punjab and Sind Bank has 919 branches and 63 ATMs across India. Punjab and Sind Bank offers Education Loans for students willing to pursue higher studies in India or abroad.

• Student should have Nationality Indian.
• Must take secured admission to technical or professional Courses in the India or abroad through entrance exam or selection process which is based on merit.

• Graduation courses: B. Sc, B. Com, B.A. etc.
• Postgraduate courses: Masters & Phd.
• Professional Courses: Engineering, Agriculture, Medical, Veterinary, Dental, Law Computer, Management, etc.
• Certificate courses in computers from standard institutes qualified to the electronics department or universities.
• Courses such as CA, ICWA, CFA etc.
• Courses conducted in the India by standard foreign universities.
• Courses arranged by IIT, IIM, IISc, NIFT, XLRI, etc.
• Courses which are conducted in evening
• Other degree or diploma courses arranged by universities or colleges and approved by government, UGC, AICTE, ICMR, AIBMS etc.
• The courses which are presented by the National or any standard institute.

• Graduation courses: Technical or job oriented courses conducted by standard universities.
• Post Graduation Courses: MBA, MCA, MS etc.
• Courses offered by CPA - USA, CIMA London etc .

• Fees payable to the school, college or hostel
• Laboratory, Examination, or Library fee
• Fees required for purchasing equipments, books, uniforms or instruments.
• Building funds, caution deposit, or the deposit which is refundable supported by the institution receipts or bills.
• Passage money or travel expenses for those studies in abroad.
• Buy the computers which are useful for the course.
• Other expenses required for completion of course such as study tours, thesis, project Work, etc.

• For Courses of duration upto 3 months:Rs. 20,000/-
• For Courses of duration 3 to 6 months:Rs. 50,000/-
• For Courses of duration 6 months to 1 year:Rs. 75,000/-
• For Courses of duration above 1 year: Rs. 1,50,000/-
• The maximum amount is Rs. 10 lakhs for the studies in India.
• The maximum amount is Rs. 20 lakhs for the studies Abroad

• No margin on the loan up to Rs 4 lakh
• The margin on loans greater than Rs 4.0 lakh is 5 percent for students in India and 15 percent for the students in Abroad.
• Assistantship or scholarship also included in to the margin.

• No security is required on loan amount Rs. 4 lakh
• Collateral security in type of guarantee of third party when loan amount is between Rs. 4.0 lakh - Rs. 7.5 lakh.
• And when loan amount is greater than Rs.7.5 lakh, collateral security is required with task of student's future income for installment payment.

• Documents of the loan should be carried out by students as well as guardian.
• The security may be land, government, building, Public Sector, Units of NSC, UTI, KVP, gold, LIC Policy, shares, deposit of bank in name of parents, student, guardian or third party.
• At the time when building or land is mortgaged already, then imaginative portion can take as a security.
• The same loan amount is hypothecated to bank when loan is taken for purchasing computers.

On the educational loans, upfront or processing charges not collected.

For Vocational Courses:

Loans upto Rs. 50,000/-:Upto 2 years

Loans between Rs. 50,000/- to Rs. 1.00 lac: 2 to 5 years

Loans above Rs. 1.00 lac: 3 to 7 years

b)For Education loan scheme for pursuing Higher Education in India & Abroad:

For loans upto Rs. 7.5 lakhs: upto 10 years

For loans above Rs. 7.5 lakhs: upto 15 years

Public Relation Department
1st Floor,
21 - Rajendra Place,
New Delhi 110008
Phone - (011) 25719082
Fax - (011) 25723793
Website -http://www.psbindia.com

Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.