Page 108 - DCOM208_BANKING_THEORY_AND_PRACTICE

Unit 7: Loans and Advances

alternative but to jump into the job market a shade too early. And this led to untimely end Notes
of budding talents and their forceful transformation into to mediocrity (less capable
individuals).
Scholarships were there, but those were so less in numbers that only luckier few could avail of
them. But now the scene has changed drastically. The boom in the banking sector has led to
release of large amount of funds for education loans. Now, education loans are easily available
from various banks in India and this change is encouraging more and more students to take up
higher education despite their financial shortcomings.
Nationalized banks as well as private banks have come up with various educational loan schemes
that students can benefit from. The current scenario is such that immediately after the results
announcements of CAT or PMT/IIT-JEE, the representatives of the banks queue up for giving
education loans to the successful candidate even with very flexible conditions. This scenario is
certainly helping good students to pursue higher education and realize their dreams.
Some banks that give education loans are as follows:

1. Allahabad Bank
2. Bank of Baroda
3. Punjab National Bank
4. Indian Bank

5. State Bank of Mysore
6. Andhra Bank
7. Bank of India
8. State Bank of Indore

9. Karnataka Bank
10. Bank of Maharashtra
11. Bank of Rajasthan
12. Canara Bank

13. Catholic Syrian Bank
14. Central Bank
15. Dena Bank
16. Development Credit Bank

17. Federal Bank
18. HDFC Bank
19. IDBI
20. Mysore Bank, etc.

The education loan normally may cover:
1. The college, school or hostel fee.
2. Expenses for buying books, instruments or uniform.
3. Exam laboratory or library fee.

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