What Options Do You Have in Punjab & Sind Bank Education Loans?
Punjab & Sind Bank offers three education loans, viz.:
- Punjab & Sind Bank Model Education Loan
- Punjab & Sind Bank Excellence Education Loan
- Punjab & Sind Bank Skill Loan Scheme
Punjab & Sind Bank Model Education Loan
This is the IBA Model Education Loan Scheme and helps students who want to pursue higher studies in India or abroad pay the cost of their college fees and other related expenses including purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
Maximum loan amount for studying in India is Rs 10 lakh, while for abroad it is Rs 20 lakh. Quantum of the loan is decided on a course-to-course basis by the bank.
Punjab & Sind Bank Excellence Education Loan
The PSB Excellence Education Loan helps meritorious and deserving students pursue higher education at a premier institute in India. Loan amount is capped at Rs 20 lakh. While the loan page mentions IIMs, IITs and ISB, there is no comprehensive list of institutes available on the bank’s website for eligible institutes.
Like other education loans, PSB disburses this loan as a series of payments over the required number of terms or years to pay the fees or other approved charges. It is not disbursed as a lump sum.
Punjab & Sind Bank Skill Education Loan
This Punjab & Sind Bank loan helps students who have secured admission in technical courses offered by training institutes, ITIs, polytechnics, schools or colleges approved by the state or central government for technical education to pay their course fees.
Loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.
For more information on these loans and from other top banks in India, you can check out our Education Loan Guide.
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The guide gives you the details you need on interest rates, terms, etc. that will help you find the loan with the lowest rate of interest.
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