- Model PSB Education Loan: Punjab and Sind Bank loan schemes for India and abroad.
- PSB Excellence-Education Loan: Punjab and Sind Bank loan schemes for India.
- PSB Skill Education Loan: Punjab and Sind Bank loan schemes for skill based courses India.
- Tuition fee
- Examination fee
- Travel fair
- Cost of accommodation
- Cost of books, equipment, instrument, or uniforms
- Miscellaneous expenses - study tours, project work, thesis, etc
- Cost of a computer or laptop required for the completion of the course
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Students who have secured admission in regular full time Degree / Diploma courses of all the IIMs, IITs and ISB Hyderabad.
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Approved courses leading to graduate, post-graduate degrees and PG diplomas conducted by recognized colleges/universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR, etc.
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Degree/diploma courses like Aeronautical, Pilot Training, Shipping, Nursing, or any other discipline, approved by the Director General of Civil Aviation/Shipping/Indian Nursing Council (INC) or any other regulatory body.
- If the university where the student seeks admission is among the top universities in the country, then exceptions are made.
- For job oriented professional/ technical courses offered by reputed universities
- 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 abroad for the purpose of employment abroad.
- Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
- Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
- Education loan application form.
- Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ Driving License/ Aadhaar card.
- Passport
- Visa documents
- Past academic record.
- 10th standard mark sheet
- 12th standard mark sheet
- Undergraduate result (semester-wise)
- Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
- Proof of admission: admission letter (A conditional admission letter is also applicable).
- Statement of expenses.
- 2 passport-size photographs.
- Loan A/C statement of one year (if applicable)
- Bank account statement of the student (if applicable)
- Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
- Address proof: recent copy of telephone bill/ electricity, water, piped gas bill or copy of Driving license/ Aadhaar card.
- 2 passport-size photographs.
- Co-borrower’s bank account statement for the last 6 months.
- In case of another ongoing loan, then the loan A/C statement of 1 year.
- Salary slips for the last 3 months.
- Copy of Form 16 of the last 2 years or copy.
- Bank account statement for the last 6 months (Salary account).
- A brief statement of assets & liabilities of parent/ guardian/ other co-borrower.
- Business address proof.
- Last 2 years IT returns ( If IT Payee).
- TDS certificate (Form 16A, if applicable).
- Certificate of qualification (for C.A./ doctor and other professionals).
- Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
- Bank account statement for the last 6 months.
- Punjab and Sind education loan offline application:
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Punjab and Sind education loan online application:
- Go to the official website of Punjab and Sind Bank.
- Log in to the portal using the 'Internet Banking Login' button located at the top-right corner of the website.
- Select the education loan product you wish to apply for and follow the on-screen instructions to complete the application process.
- Submit the documents required for Punjab and Sind Bank education loan.
Updated on: 11 Sep 2023
Table of Content Punjab & Sind Bank currently offers three type of education loan options: Particulars Model PSB Education Loan PSB Excellence - Education Loan PSB Skill Education Loan Loan amount Need based finance Up to INR 20 Lakh Up to 1,50,000 Lakh Collateral / co-applicant requirement Above INR 4.0 Lakh, collateral or co applicant is required. No collateral is required but co-applicant is must. No collateral is required; however, parent(s) have to be joint borrowers. Punjab and Sind Bank interest rates 8.60% - 9.10% 8.85% - 9.05% 10.10% 5 - 15% 0 - 5% Nil Processing fees Nil (however, a deposit of INR 2,000 is required, that can be withdrawn after the loan is sanctioned) Nil Nil Repayment tenure 15 years 10 years 7 years Duration of course + 1 year Duration of course + 1 year Duration of course + 1 year Punjab and Sind Bank education loan provides financial assistance to cover various expenses related to your education. Here are the typical expenses covered under an education loan: India: Abroad: To apply Punjab and Sind Bank loan schemes, you will need to submit the following documents as part of the application process. Applicants documents Co-applicant’s documents Income proof for salaried co-applicant/guarantor To apply for Punjab and Sind Bank loan schemes, you have two options: offline and online. Visit the nearest Punjab and Sind Bank branch and bring along all the required documents. Fill the application form and submit the required documents for verification. The Punjab and Sind Bank loan schemes serves as a valuable financial resource for students aspiring to pursue their educational dreams. Whether you are a student pursuing undergraduate, postgraduate, or doctoral studies, Punjab and Sind Bank's education loan offers a pathway to turn your educational aspirations into reality. When it comes to choosing the right education loan from a wide range of lenders, students often face confusion and make mistakes. To navigate through this confusion and make informed decisions, GyanDhan is here to help. We have partnered with leading banks and NBFCs and provide unbiased opinions on different loan products. Our knowledgeable executives are well-versed in the features and benefits of various loan schemes. We prioritize your financial well-being and aim to provide you with the most favorable terms and conditions available. You can start your education loan journey by checking your education loan eligibility. Read also: The current interest rate for Punjab and Sind Bank education loan for study abroad ranges from 8.60% - 9.10% whereas for Punjab and Sind Bank education loan for India the interest rate varies from 8.85% - 9.05%. Indian residents who have secured admission in recognized universities or institutions in India or abroad are eligible to apply for an education loan from Punjab and Sind Bank. Punjab and Sind Bank education loan for study abroad repayment period of up to 15 years for abroad education loans and 10 years for education loans for studies in India, allowing borrowers to comfortably repay the loan amount after completing their education. No pre-payment penalty is to be levied for prepayment of loan any time after the commencement of repayment. Once the loan is disbursed, the student can repay the loan any time after 6 months, without any prepayment penalty. Punjab and Sind Bank is an Indian public sector bank. The bank was established on 24 June 1908 by Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh in Amritsar.
Punjab & Sind Bank being a public sector bank is one of the preferable options for education loans. The Bank offers low interest rates, easy repayment options and tax benefits on education loans.
Punjab & Sind Bank loan schemes
An overview of Education loan from Punjab and Sind Bank
Check Your Education Loan Eligibility Apply Here
Expenses covered under Punjab and Sind Bank education loan
Eligible courses for PSB Excellence-Education Loan Scheme
Eligible courses for PSB Model Education Loan
Eligible courses for PSB Skill Education Loan
Punjab and Sind Bank documents required
Income proof for self-employed co-applicant/guarantor
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How to apply for Punjab and Sind Bank education loan?
Frequently asked questions
What is the interest rate for Punjab and Sind Bank education loans?
Who is eligible to apply for an education loan from Punjab and Sind Bank?
What is the repayment tenure for education loans from Punjab and Sind Bank?
Is there any pre-payment penalty by Punjab and Sind Bank?
Punjab and Sind Bank is private or government?
First published date: 24 Feb 2022
About author
Vishakha Bhagia
Interest in Finance with a flair for writing, Vishakha has written on education loans and the study abroad field for the last two years with articles published in Times of India, Outlook India, The Hindu, and many more publications.
GyanDhan is India's first education financing marketplace.
