The Education Loan Scheme aims at providing financial support from the bank to deserving /meritorious students for pursuing higher education in India and abroad. The scheme aims at providing financial assistance on reasonable terms : to the poor and needy to undertake basic education, and to the meritorious students to pursue higher / professional / technical education.

Eligibility
	Courses Eligible
		Studies in India
			Graduation courses : BA, B.Com., B.Sc., etc.
			Post Graduation courses : Masters & PhD.
			Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
			Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
			Courses like ICWA,CA,CFA etc.
			Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
			Courses offered in India by reputed foreign universities.
			Evening courses of approved institutes.
			Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE/ AIBMS/ ICMR etc.
			Courses offered by National Institutes and other reputed private institutions.
		Studies abroad
			Graduation : 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.
Student eligibility
		Should be an Indian National
		Secured admission to professional / technical courses through Entrance Test/Selection process.
		Secured admission to foreign university/Institutions.
Expenses considered for loan
		Fee payable to college/school/hostel.
		Examination/ Library/ Laboratory fee.
		Purchase of books/ equipments/ instruments/ uniforms.
		Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
		Travel expenses/ passage money for studies abroad.
		Purchase of computers - essential for completion of the course.
		Any other expense required to complete the course - like study tours, project work, thesis, etc.
Quantum of Finance
	Need based finance subject to repaying capacity of the parents/ students with following ceilings.
		Studies in India -Maximum Rs. 7.50 lacs.
		Studies abroad - Maximum Rs. 15 lacs
Margin
	Upto Rs. 4 lacs : Nil
	Above Rs. 4 lacs:Studies in India : 5 %
			:Studies Abroad : 15 %
	»	Scholarship/assistantship to be included in margin.
Security
	Upto Rs. 4 lacs : No security
	Above Rs. 4 lacs : Collateral security equal to 100% of the loan amount or guarantee of third person known to bank for 100% of the loan amount.
	»	The security can be in the form of land/ building / Govt. securities/ Public Sector Bonds/ Units of UTI, NSC, KVP, LIC policy, gold, shares/ debentures, bank deposit in the name of student/parent / guardian or any other third party with suitable margin.
Rate of Interest
	Upto Rs. 4 lacs : PLR
	Above Rs. 4 lacs : PLR + 1 %
	»	(PLR = 11.5 % at present)
Disbursement
	The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/ Vendors of books/ equipments/ instruments.
Repayment Holiday
	Course period + 1 year or 6 months after getting job, whichever is earlier.
Repayment
	The loan to be repaid in 5-7 years after commencement of repayment.
Processing Charges
	No processing/ upfront charges are levied on educational loans.

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Head Office
Bank House, 21, Rajendra Place
New Delhi - 110 008
Gen: 011-5720849, Fax: 011-5751765
E-Mail: psbcppd@giasd1O1.vsnl.net.in
Website: www.psbindia.com