Education Loan >>
Beneficiary |
Salaried employees of Coop. banks, Punjab Govt./Chandigarh Administration and its boards and corporations. |
Purpose |
To provide financial assistance to deserving and meritorious student for pursuing higher studies in India or abroad. |
Loan Limit |
Maximum amount up to RS. 15.00 Lakh. |
Rate of Interest |
11% |
Margin |
No margin required. |
Repayment Period |
The instalment will start after completion of course or Maximum 5 years. |
Collateral Security |
Mortgage of landed property having value of 150% of the loan amount. If the parent/guardian is the employee of Punjab Govt. or Coop. Dept. & submits irrevocable authority then no immovable security is required for the loan up to RS. 5.00 lakhs. |
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