Education Loans from Punjab & Sind Bank
Being one of the public sector banks in India, Punjab & Sind Bank offers a range of education loans to different segments of the student population. Punjab & Sind Bank offers three education loans, each for a particular student segment or purpose. No loan under Rs. 4 lakh needs any form of security or collateral.
The three education loans from Punjab & Sind Bank are:
- Punjab & Sind Bank Model Education Loan (for Higher Study in India and Abroad)
- Punjab & Sind Bank Excellence Education Loan (for Students of Premier Institutions)
- Punjab & Sind Bank Skill Loan Scheme (for Technical Education)
As of October 2020, the bank does not mention and therefore does not seem to offer any active interest subsidy scheme.
We give you a brief intro to each below. In addition you have the option to click further and read in detail about each loan in a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format.
Punjab & Sind Bank Model Education Loan Scheme (for Pursuing Higher Studies in India and Abroad)
The Model Education Loan, also known as IBA Model Education Loan, helps students who want to pursue higher studies in India and abroad afford the cost of the course and related expenses. The maximum loan amount for studying in India is capped at Rs. 10 lakh. For studying abroad, the maximum loan amount is Rs. 20 lakh. This quantum of the loan is decided on a course-to-course basis by the bank.
Features of Punjab & Sind Bank Model Education Loan Scheme for Pursuing Higher Studies in India and Abroad
Why this Loan?
- The PSB Model Education loan is meant to help students fulfil their dreams of pursuing higher education in India or abroad
- This loan is disbursed as a series of payments over the required number of years and not as a lump sum
- It can be taken for all institution fees as well as related expenses including purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
Punjab & Sind Bank Excellence Loan Scheme (for Students of Premier Institutions)
The PSB Excellence Education Loan helps meritorious and deserving students pursue higher education at a premier institute in India. The maximum 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. Please check with the bank for more details.
Features of PSB Excellence Education Loan
Why this Loan?
- The loan is meant for you if you have gained admission into a regular/full-time course into a premier institute in India
- The bank disburses the PSB Excellence Education 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 Loan Scheme (for Technical Education)
This loan from Punjab & Sind Bank (PSB) helps students who have secured admission into technical courses offered by training institutes, ITIs, polytechnics, schools or colleges approved by the state or central government for technical education to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.
Features of PSB Skill Loan Scheme for Technical Courses
Why this Loan?
- The loan is meant for you if you have gained admission into a programme offered by a polytechnic, Industrial Training Institute (ITI), school, college etc. in India offering technical courses
- The bank disburses the PSB Skill Loan Scheme amount as a series of payments over the required number of terms or years to pay the course fees or other approved charges
- Punjab & Sind Bank Website: www.psbindia.com
- Headquarters: New Delhi
- Call Centre Toll-Free Number: 1800 4198300
IMPORTANT: Thousands of smart students and their parents lose lakhs of money every year by choosing a costlier education loan.
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