Scheme PUPGB SARASWATI
Purpose To provide financial support to meritorious students for pursuing higher education in India.
Eligibility Student Eligibility
❖ Should be an Indian national.
❖ Should have secured admission to a higher education course in recognized institutions in
India through Entrance Test/ Merit Based Selection process after completion of HSC(10
plus 2 or equivalent).
❖ Cases of Management Quota may be considered on merit basis;
Courses Eligible
❖ Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas
conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/
AIBMS/ ICMR etc.
❖ Courses like ICWA, CA, CFA etc.
❖ Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
❖ Regular Degree/Diploma courses like Aeronautical, pilot training, shipping Nursing or any
other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing
Council or any other regulatory body as the case may be.
❖ Approved courses offered in India by reputed foreign universities.
❖ Research Programmes recognized by designated academic authority/ regulatory body.
Quantum of Finance Need based finance to meet the expenses2subject to repaying capacity of the parents/
students (after completion of course)
2Expenses considered for loan:
✓ Fee payable to college/ school/ hostel
✓ Examination/ Library/ Laboratory fee.
✓ Insurance premium for student borrower, if applicable.
✓ Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
✓ Purchase of books/ equipment/ instruments/ uniforms.
✓ Purchase of computer at reasonable cost, if required for completion of the course.
✓ Any other expense required to complete the course - like study tours, project work,
thesis, etc.
Margin ❖ Up to Rs.4 Lakh:Nil
❖ Above Rs.4 Lakh:5%
❖ Scholarship/ assistantship may be considered in margin.
❖ Margin may be brought-in on year-to-year basis as and when disbursements are made
on a pro-rata basis.
Security Assignment of future income of the student for payment of instalment in all the cases And
❖ For loans upto Rs.4Lakh: Parent(s)/guardian be made joint borrower (s). No tangible
Security and /or 3rd party guarantee is required.
❖ For loans above Rs.4 Lakh and Upto Rs.7.50 Lakh: Parent(s)/guardian be joint
borrower(s). Suitable 3rd party guarantee.
❖ For loans above Rs.7.50 Lakh: Parent(s)/guardian be joint borrower(s).Tangible collateral
security of suitable value acceptable to bank.
Disbursement The amount of loan shall be disbursed in stages as per requirement/ demand, directly to the
institutions (preferably through electronic channel wherever facility of such remittance is
available)/ vendor of the books/ equipment/ instruments to the extent possible as per terms of
sanction (in case of purchase of stationery and books, amount may be disbursed/ reimbursed
by crediting student’s saving account, on declaration and production of bills).
Repayment Maximum upto 15 years
Moratorium Period Course period + 1 year
Rate of Interest As per Bank’s guidelines in force.
Processing Fee As per Bank’s norms in force.
Documentation Charges As per Bank’s norms in force.
Above are only salient features of the scheme. For details please contact your nearest branch of PUPGB.
Purpose To provide financial support to meritorious students for pursuing higher education in India.
Eligibility Student Eligibility
❖ Should be an Indian national.
❖ Should have secured admission to a higher education course in recognized institutions in
India through Entrance Test/ Merit Based Selection process after completion of HSC(10
plus 2 or equivalent).
❖ Cases of Management Quota may be considered on merit basis;
Courses Eligible
❖ Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas
conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/
AIBMS/ ICMR etc.
❖ Courses like ICWA, CA, CFA etc.
❖ Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
❖ Regular Degree/Diploma courses like Aeronautical, pilot training, shipping Nursing or any
other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing
Council or any other regulatory body as the case may be.
❖ Approved courses offered in India by reputed foreign universities.
❖ Research Programmes recognized by designated academic authority/ regulatory body.
Quantum of Finance Need based finance to meet the expenses2subject to repaying capacity of the parents/
students (after completion of course)
2Expenses considered for loan:
✓ Fee payable to college/ school/ hostel
✓ Examination/ Library/ Laboratory fee.
✓ Insurance premium for student borrower, if applicable.
✓ Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
✓ Purchase of books/ equipment/ instruments/ uniforms.
✓ Purchase of computer at reasonable cost, if required for completion of the course.
✓ Any other expense required to complete the course - like study tours, project work,
thesis, etc.
Margin ❖ Up to Rs.4 Lakh:Nil
❖ Above Rs.4 Lakh:5%
❖ Scholarship/ assistantship may be considered in margin.
❖ Margin may be brought-in on year-to-year basis as and when disbursements are made
on a pro-rata basis.
Security Assignment of future income of the student for payment of instalment in all the cases And
❖ For loans upto Rs.4Lakh: Parent(s)/guardian be made joint borrower (s). No tangible
Security and /or 3rd party guarantee is required.
❖ For loans above Rs.4 Lakh and Upto Rs.7.50 Lakh: Parent(s)/guardian be joint
borrower(s). Suitable 3rd party guarantee.
❖ For loans above Rs.7.50 Lakh: Parent(s)/guardian be joint borrower(s).Tangible collateral
security of suitable value acceptable to bank.
Disbursement The amount of loan shall be disbursed in stages as per requirement/ demand, directly to the
institutions (preferably through electronic channel wherever facility of such remittance is
available)/ vendor of the books/ equipment/ instruments to the extent possible as per terms of
sanction (in case of purchase of stationery and books, amount may be disbursed/ reimbursed
by crediting student’s saving account, on declaration and production of bills).
Repayment Maximum upto 15 years
Moratorium Period Course period + 1 year
Rate of Interest As per Bank’s guidelines in force.
Processing Fee As per Bank’s norms in force.
Documentation Charges As per Bank’s norms in force.
Above are only salient features of the scheme. For details please contact your nearest branch of PUPGB.
