There are several banks which offer education loans in India. Even Punjab and Sind Bank offers education loans for students willing to pursue higher studies in India or abroad. This bank was set up under the aegis of Bhai Vir Singh, Sardar Tarlochan Singh and Sir Sunder Singh Majitha in the year 1908. If you want to avail of Punjab and Sind Bank education loans, then scroll down this page.

Candidate’s Eligibility

Candidates applying for the education loan need to satisfy certain eligibility criteria as specified by the Punjab and Sind Bank

• Applicants should be Indian Nationals
• Candidates will be considered eligible if they get admission to various courses through entrance examination or a selection process based on merit.

Courses Eligible for Punjab and Sind Bank Education Loans

There are plenty of courses, which are considered eligible for the Punjab and Sind Bank student loan.

Studies in India

• Various graduation, post graduation and professional courses in the areas of Management, Medicine, Dental Science, Veterinary Science, Agriculture and others. Computer certificate courses offered by renowned institutes approved by the Department of Electronics or certified by the University, are also eligible.
• IIM, XLRI, IIT -courses, evening courses, regular diploma and degree courses as well as courses like CFA, ICWA, CA are eligible for the Punjab and Sind Bank student loan.

Studies Abroad

Job oriented graduation courses, post graduation courses and courses conducted by CPA-USA and CIMA-London.

Expenses Covered by Punjab and Sind Bank education loans

The education loan offered by Punjab and Sind Bank covers examination fee, tuition fee, expense of educational tours, hostel charges, cost of purchasing books and refundable deposits.

The loan also includes travel expenses and passage money of students traveling abroad.

Quantum of Finance

A maximum education loan amount of Rs.7.5 lacs and Rs.15 lacs are offered for studies in India and abroad respectively.

Margin

There is no margin for loan amount up to Rs.4 lacs. For education loans above Rs. 4 lacs, the margin is 5% (studies in India) and 15% (studies abroad) respectively.

Security

Punjab and Sind Bank demands various kinds of securities for issuing education loans.
Loans more than Rs.4 lacs- A collateral security
Loans more than Rs. 7.5 lacs- collateral security or guarantee of third party.

In order to learn more about Punjab and Sind Bank Education Loans and interest rates browse through http://www.psbindia.com/

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It is great that you want to opt for education loan in order to pursue higher studies. There are several banks in India, which offer education loans to meritorious students willing to study higher education in India or abroad. Even IDBI Bank provides financial assistance to deserving candidates. If you to know more about education loans from IDBI, scroll down the page

Courses Eligible for IDBI Education Loans

There are plenty of courses considered eligible for IDBI Student Loan and the easy repayment options make the loan scheme attractive among the students.

Studies in India

• Various graduation, post graduation, professional and computer certificate courses.
• Other courses like CA, ICWA, CFA, courses conducted by reputed institutions like IIT, XLRI, IIT, NIFT, evening courses and those conducted by reputed foreign universities and institutions in India.
• Diploma and degree courses conducted by various universities and colleges which are approved by AICTE, ICMR, AIBMS, Government and UGC.

Studies Abroad

• Undergraduate, postgraduate and courses conducted by CPA in USA and CIMA-London.

Quantum of Loan

The maximum amount of education loan offered for studies in India is Rs.10 lacs and for studies abroad it is Rs. 20 lacs.

Expenses Covered by IDBI Student Loan

The expenses covered by IDBI education loan include fees to be paid for examination and hostel charges, library and laboratory fees, books, instruments, caution deposit, refundable deposit, instruments and building fund. The loan also covers the travel expenses of the students going abroad.

Repayment of IDBI Education Loan

The repayment commences either one year after the completion of the course or six months after one gets employed, whichever happens earlier.

The loan should be paid back within 5 to 7 years.

In order to know more about Education Loans from IDBI browse through http://www.idbi.com/

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Housing Development Finance Corporation Limited or HDFC Bank started its operations in the year 1995 as a scheduled commercial bank. It is one of the Indian banks, which offer education loans to students willing to pursue higher education in India or abroad. Scroll down the page to learn more about HDFC Bank education loans.

Candidates Eligibility Required for Education Loan

Candidates willing to apply for HDFC Bank education loan should be Indian Nationals. Applicants should be between 16-35 years of age. Collateral security is essential for loans above Rs. 7.5 lacs. A co-applicant is required if you are applying for full time courses.

Eligible Courses

The eligible courses for HDFC student loan are undergraduate and postgraduate courses in the fields of management, engineering, medicine, computer applications, fine arts and designing, hotel and hospitality, architecture and pure science. The other courses eligible for loans are distance learning programs, air hostess training courses, SAP, GNIIT and ERP. The institutes should be recognized by competent government body or even by AICTE.

Features and Benefits offered by HDFC Bank

• The maximum amount of loan granted for education in India is Rs.10 lacs and Rs. 20 lacs for education in abroad. The rate of interest offered is attractive.
• Repayment of loan commences either one year after the course ends or six months after one gets a job. It depends on which one is earlier to the other.
• Tenure of seven years is available for the loans and the customers also get tax benefit.
• The entire procedure is hassle free and approvals are given at the earliest.
• Candidates may also fill and submit the online application form available. The representatives of the bank get in touch with the applicants as soon as possible.

Expenses Covered by the Loans

• The expenses covered by HDFC Bank education loan includes money to be paid as college and hostel charges, examination fees, library and laboratory fees, refundable deposit, caution deposit and other charges.
• The loan also covers travel expenses for studying abroad, essential articles required for completing the course and other educational costs.

In order to learn more about moratorium period and interest rates, browse through http://www.hdfcbank.com

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