all about medical
 Date : 7/26/2017 
 Bank Loan
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The Education Loan Scheme aims at providing financial support from the bank to deserving /meritorious students for pursuing higher education in India and abroad. The scheme aims at providing financial assistance on reasonable terms : to the poor and needy to undertake basic education, and to the meritorious students to pursue higher / professional / technical education.

Eligibility
Courses Eligible
Studies in India
Graduation courses : BA, B.Com., B.Sc., etc.
 
 Post Graduation courses : Masters & PhD.
 
    Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
 
    Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated 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.
 
Studies abroad
    Graduation : For job oriented professional / technical courses offered by reputed universities.
 
Post graduation : MCA, MBA, MS, etc.
 
    Courses conducted by CIMA-London, CPA in USA etc.


 

 
Student eligibility
Should be an Indian National
 
  Secured admission to professional / technical courses through Entrance Test/Selection process.
 
  Secured admission to foreign university/Institutions.


 
Expenses considered for loan
Fee payable to college/school/hostel.
 
Examination/ Library/ Laboratory fee.
 
Purchase of books/ equipments/ instruments/ uniforms.
 
  Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
 
Travel expenses/ passage money for studies abroad.
 
Purchase of computers - essential for completion of the course.
 
  Any other expense required to complete the course - like study tours, project work, thesis, etc.


 
Quantum of Finance
  Need based finance subject to repaying capacity of the parents/ students with following ceilings.
Studies in India -Maximum Rs. 7.50 lacs.
 
  Studies abroad - Maximum Rs. 15 lacs


 
Margin
Upto Rs. 4 lacs : Nil
 
Above Rs. 4 lacs:Studies in India : 5 %
             :Studies Abroad : 15 % 
  Scholarship/assistantship to be included in margin.


 
Security
Upto Rs. 4 lacs : No security
 

Above Rs. 4 lacs : Collateral security equal to 100% of the loan amount or guarantee of third person known to bank for 100% of the loan amount.

 

The security can be in the form of land/ building / Govt. securities/ Public Sector Bonds/ Units of UTI, NSC, KVP, LIC policy, gold, shares/ debentures, bank deposit in the name of student/parent / guardian or any other third party with suitable margin.


 

Rate of Interest
Upto Rs. 4 lacs : PLR
 
Above Rs. 4 lacs : PLR + 1 %
  (PLR = 11.5 % at present)


 
Disbursement
  The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/ Vendors of books/ equipments/ instruments.


 
Repayment Holiday
  Course period + 1 year or 6 months after getting job, whichever is earlier.


 
Repayment
  The loan to be repaid in 5-7 years after commencement of repayment.


 
Processing Charges
  No processing/ upfront charges are levied on educational loans.
 

Important
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.


Head Office
Bank House, 21, Rajendra Place
New Delhi - 110 008
Gen: 011-5720849, Fax: 011-5751765
E-Mail: psbcppd@giasd1O1.vsnl.net.in
Website: www.psbindia.com


 

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