Punjab And Sind Bank - Educational Loan

[Kalyan]

Punjab And Sind Bank

The educational loan scheme outlined below aims at providing financial support from the banking system to deserving and / meritorious students for persuing higher education in India and abroad.

The main emphasis is that every meritorious student though poor is provided with an opportunity to persue education with the financial support from the banking system with affordable terms and conditions. No deserving student is denied an opportunity to persue higher education for want of financial support.

Eligibility Criteria :

Student Eligibility :

• Student should be an Indian National
• Secured admission to professional / technical courses in India or abroad through entrance Test / Merit Based Selection process.

Courses Eligible:

(a) Studies in India : ( Indicative List)

• Graduation courses : B.A. B.Com, B.Sc., etc.

• Post Graduation courses : Masters & Phd.

• Professional Courses: Engg. , Medical, Agriculture , Veterinary, Law ,Dental, Management , Computer etc.

• Computer certificate courses of reputed institutes accredited to Deptt. of *electronics or institutes affliated to university.

• Courses like ICWA , CA , CFA etc.

• Courses conducted by IIM, IIT, IISc , XLRI, NIFT, etc.

• Courses offered in India by reputed foreign universities.

• Evening courses of approved institutes.

• Other courses leading to diploma / degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE /AIBMS/ ICMR etc.

• Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on the future prospects/recognition by user institutions.

(b) Studies Abroad :

• Graduation For job oriented professional/technical courses offered by reputed universities.
• Post Graduation MCA,MBA,MS etc.
• Courses conducted CIMA-Londin, CPA in USA etc.

Quantum of Finance.

Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings.

Studies in India - Maximum Rs. 7.50 lacs
Studies abroad - Maximum Rs. 15.00 lacs.

REPAYMENT

Repayment holiday/Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier

The loan to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time , extension of time for completion of course may be permitted for a maximum period of 2 years.

If the student is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extension as may be deemed necessary to complete the course.

• The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments (EMI) fixed.

• 1% interest concession may be provided for loanees if the interest is serviced during the study period when repayment holiday is specified for interest / repayment under the scheme.
   
   
For More Details :

www.psbindia.com