Education Loan

Beneficiary Salaried employees of Coop. banks, Punjab Govt / Chandigarh Administration and its boards & Corporation.
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 Lac.
Rate of Intt 11%
Margin No Margin required.
Repayment Period The installment will start after completion of course. Maximum 5 years.
Collateral Security Mortgage of landed property value of 150% of the loan amount. For the loan up to Rs. 5.00 lac, no Immovable security is required. If the loanee is the employee of Punjab Govt.or Coop.Deptt. etc. Two guarantors known to the bank will also be taken.
Area of Operation Loan shall be advanced in the area operation in the Muktsar district.