Education Loan in Punjab and Sind Bank


Punjab and sind bank
Education loan amount size
On the basis of students repaying the parents loan , the loan is provided.
For the students studying in India maximum amount of upto Rs.7,50,000 will be provided.
For the students studying in abroad , maximum amount of upto  Rs.15,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Till 4,00,000 Rs.
Bank employee: B.B.L.R – 1.00%
Other public: B.B.L.R – 2.00%
More than 4,00,000 Rs.
Bank employee: P.L.R – 0.50%
Other public:B.B.L.R – 1.50%
Way of repaying the loan:
One year after finishing the loan or right from 6th month after joining the job the repayment process is to be started..
Warranty:
No Property guarantor is required till 4,00,000 rs.
From 4,00,000 till 7,50,000 Rs. – Third party’s guarantee is required.
More than 7,50,000 Rs. – parents, student or the third party’s agreeing letter is required assuring the repayment of loan.




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