Educational loans

Punjab and Sind Bank

Bank Type : Goverment Bank
No. Of Branches : 1405

About Bank

It was in the year 1908, when a humble idea to uplift the poorest of poor of the land culminated in the birth of Punjab & Sind Bank with the far-sighted vision of luminaries like Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh. They enjoyed the highest respect with the people of Punjab. 

The bank was founded on the principle of social commitment to help the weaker section of the society in their economic endeavours to raise their standard of life. 

Decades have gone by, even today Punjab & Sind Bank stands committed to honor the social commitments of the founding fathers. 

Loan Procedures


For  Vocational Education:

Vocational/Skill development courses of duration from 2 months to 3 years run or supported by:

A ministry/Department//Organization of the Government or a company/society/organization supported by National Skill Development Corporation or State Skill Mission/State Skill Corporations, preferably leading to a certificate/diploma/degree etc. issued by the Govt. Organization or an organization recognized/authorized by the government to do so. State Level Bankers Committee (SLBC) may add other skill development courses/programmes,having good employability.

For Higher Studies in India and Abroad:

Studies in India:

(Indicative list)

Approved courses leading to graduate/ post graduate degree and P G diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.

Courses like ICWA, CA, CFA etc.

Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.

Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, nursing or any other discipline, approved  by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other  regulatory body as the case may be, if the course is pursued in India.

Approved courses offered in India by reputed foreign universities.


The above list is indicative in nature. Courses other than the above offered by reputed institutions may also be considered on the basis of employability.

Studies abroad:


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.

Degree/diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.

Quantum of Finance:

For vocational Education:

For Courses of duration upto 3 months: 

Rs. 20,000/-

For Courses of duration 3 to 6 months:

Rs. 50,000/-

For Courses of duration 6 months to 1 year:

Rs.  75,000/-

For Courses of duration above 1 year:

Rs. 1,50,000/-

For Higher Education in India and Abroad:

Studies in India:


Maximum upto Rs. 10 lakhs.

Studies Abroad:


Maximum upto Rs. 20 lakhs.


Upto  Rs.   4 lakhs:

Nil (including vocational studies)

Above  Rs. 4 lakhs:

Studies in India:


Studies in Abroad:


Rate of Interest:

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Processing fee:

For vocational Education:


For Higher Education in India and Abroad:


Nil. However, for students studying abroad, refundable security of Rs. 2000/- in lieu of processing fee, in Saving account, to be kept under reserve.


In case of vocational education:

No Security( Parents to be joint borrower)

In case of Higher Education in India & Abroad:

Upto Rs.  4 lakhs:

NO Security( Parents to be joint borrowers)

Above  Rs.  4 lakhs and upto Rs. 7.5 lakhs:

i)Parents to be joint borrower

ii)Collateral security in the form of suitable third party guarantee

Above  Rs. 7.5 lakhs:


i)Parent(s) to be joint borrower(s)


ii) Tangible collateral security of suitable value acceptable to bank, along with the assignment of future income of the student for payment of installments


For Vocational Courses:

Loans upto  Rs. 50,000/-:

Upto 2 years 


Loans between Rs. 50,000/- to   Rs. 1.00 lac:

2 to 5 years

Loans above Rs. 1.00 lac:

3 to 7 years


For Education loan scheme for pursuing Higher Education in India & Abroad:

For loans upto Rs. 7.5 lakhs:


upto 10 years


For loans above Rs. 7.5 lakhs:

upto  15 years


No pre-payment penalty is to be levied for prepayment of loan any time after the commencement of repayment. 

To Apply Education Loan Click Here




1st Floor, 21, Rajendra Place, New Delhi-110008




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