Education and Career Forum

Hello Everyone,
Can anyone of you kindly let me know the features of Education Loan scheme in Punjab & Sind Bank? I am willing to apply an Education Loan in this Bank for B.Sc(Nursing) course. Am I eligible or not?

Yes, you are eligible to apply for an Education Loan in Punjab & Sind Bank for pursuing your Graduation in B.Sc. (Nursing) course. Punjab & Sind Bank offer Education loan to all undergraduate and postgraduate courses which are offered by recognised Colleges/ Universities. As B.Sc.(Nursing) course is a Bachelor's degree course, you are eligible to apply for an Education loan in Punjab & Sind Bank.

Features of Punjab & Sind Bank Education Loan scheme are mentioned below :-

--> It offers Education loan to all Undergraduate and Postgraduate courses which are offered by recognised government colleges/ universities.

--> Quantum of Finance :-
For studies in India :- Maximum upto Rs. 10 lakhs.
For studies in Abroad :- Maximum upto Rs. 20 lakhs.

--> Processing fee :- Nil

--> Moratorium Period :- Course Period + 1 Year

--> Repayment Period :- The loan can be repaid in equated monthly installments for a maximum period of 15 years.

--> Security :-
1. Loan Upto Rs. 4 lakhs :- No Security
2. Above Rs. 4 lakhs and upto Rs. 7.5 lakhs :- Your parents need to be joint borrowers and collateral security in the form of suitable third party guarantee should be provided.
3. Above Rs. 7.5 lakhs :- Your parents need to be joint borrowers and tangible collateral security equal to loan amount should be submitted to bank.

--> Rate of Interest :-
Loan up to Rs.4 Lac :- One Year MCLR (9.65%) +2.00%= 11.65%
Loan Above Rs.4 Lac & up to Rs.7.50 Lac :- One Year MCLR (9.65%) +2.00%= 11.65%
Above Rs.7.50 Lac :- One Year MCLR (9.65%) +1.50%= 11.15%