What Options Do You Have in Punjab & Sind Bank Education Loans?

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What Options Do You Have in Punjab & Sind Bank Education Loans?

Punjab & Sind Bank offers three education loans, viz.:

  1. Punjab & Sind Bank Model Education Loan
  2. Punjab & Sind Bank Excellence Education Loan
  3. 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.

It offers never-seen-before details on how education loans work and why you need to choose the right loan.

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.

We know most people would prefer to go from bank to bank for a few weeks trying to find the right loan. That is before they fall for a sales pitch at the wrong bank and lose lakhs of hard-earned money to the bank as excess interest payments.

This is why this guide only makes sense for someone who values their money and time. The guide costs Rs 49 right now and saves you lakhs. You may buy it here: India’s First Comprehensive Education Loan Guide: Find 100+ Loans from Top Indian Banks for Rs 49.

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