Education Bank Loans

An Education Loan means financial institute or any bank gives financial support which facilitates student for taking the high education. If the education loan is available at the correct time then it will help to the number of deserving candidates of Pakistan And India to achieve their dreams. The eligible candidates for the loan are all graduates, post graduates and all the professional courses approved by state government, central government and the foreign universities. For the benefits to the students, many colleges and institutes have tied up with the banks. One can get loan up to Rs. 7.5 lakh for studies in Pakistan And India and for abroad up to Rs.15 lakh.
Banks checks the capability of the borrower related to personal discussion with student, annual income, asset of the family, course's nature and status of the institute before giving the loan. No any contract is required for the loans up to Rs. 4 lakh and interest rate also not exceed beyond the Prime Lending Rates (PLR).
The rate of interest will be PLR + 1 for the loans above Rs. 4 lakh. The term PLR is used for the interest rate and it may be different for different bank. Some of the banks suggests lower rates or for those who belong with special institutions. Loan's security totally depends on the amount of loan. Security may be housing property or bank deposits etc which are given to the bank at the time of taking loan. For the loan of Rs. 4 lakh, there is no need of the security. For the high amount loan, some banks ask for the guarantee of third person, except the security. At the time of study, no need to repay the loan. After started work, starts the repayment. After the course completion, repayment can not be delayed. 

     

Bank Of India                                                                     State Bank Of Pakistan
Head Office                                                                      Head Office 
Star House,                                                                        Central Directorate
C5, Block -G,                                                                    I.I.Cundrighar Road
Bandra - East,                                                                     Karachi
Mumbai - 400 051                                                              Pakistan
Phone - (022) 66684444                                                    Phone-111-727-111

Eligibility For Getting Loans
Student
  • Student should have nationality Pakistan And India
  • Admission to technical or professional courses in India And Pakistan or Abroad should be secured and it is through entrance test or through the selection process based on merit.
Courses performed by the students:
  • Pakistan & India Studies:
    • Graduation courses: B.Sc, B.Com, BA etc
    • Post Graduation courses: Masters & Phd.
    • Professional courses : Medical, Engineering, Agriculture, Law, Veterinary, Dental, Computer, Management, etc
    • Certificate courses of supposed institutes in affiliated to the universities and the courses are such as CA, ICWA, CFA, etc.
    • All the courses accomplished by IIT, IIM, IISc, NIF, XLRI, etc.
    • All courses conducted in India which is offered by the foreign universities with the approval of Head Office. Evening courses of approved institutes.
    • Diploma and degree courses carry out by universities or colleges approved by Government, UGC, AICTE, ICMR, AIBMS etc.
    • With the prior approval of Head Office, all the courses conducted by National Institutes and other private institutes.
  • Abroad Studies:
    • Graduation: The technical courses and job oriented professional courses offered by the universities.
    • Post Graduation: MBA, MCA, MS, etc.
    • Other courses conducted by CPA (USA) and CIMA (London) etc.

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