Saraswat Bank : Padho Pardesh Scheme For Education Loan

Organisation : Saraswat Bank
Facility : Padho Pardesh Scheme for Education Loan

Website : https://www.saraswatbank.com/

Saraswat Bank Padho Pardesh Scheme

Scheme of Interest Subsidy on Education Loans for Overseas Studies for the students belonging to the Minority Communities (effective from 2013-14)

Related : Saraswat Bank Rajiv Gandhi Equity Scheme : www.statusin.in/23165.html

The Government of India and IBA has formulated scheme to award interest subsidy to meritorious students belonging to economically weaker sections of minority communities so as to provide them better opportunities for higher education abroad and enhance their employability.

Eligibility :
1. Only for Education Loans availed from Scheduled Banks for pursuing any of the approved post graduation courses abroad under the Education Loan Scheme of IBA.

2. Students belonging to Economically Weaker Sections with annual gross parental/family income from all sources with an upper limit of Rs. 6.00 lakh. Income Certificate to this effect issued by authorized officers of State Government is to be submitted.

3. Student belonging to minority communities declared under section 2 (c) of National Commission for Minorities Act 1992. Certificate/self declaration in this regard is to be submitted.
4. Full interest subsidy is available for the period of moratorium.

5. Scheme applicable for the loan amount availed from April 01, 2013 to March 31, 2014 and will be made available in future as per notifications received from time to time. Eligible students can contact our branches where they have availed / availing loans for further details.

FAQs :
1)What is the type of information I need to submit to the Bank at the time of account opening?
You need to submit the information to establish your identity and your address and a copy of your latest photograph. You can choose from the documents acceptable by the Bank listed in the respective category of accounts.

2) I am doing a large cash withdrawal (above Rs. 10 lacs) and the cashier is insisting that I should provide him information on the purpose of withdrawal. After all, I am withdrawing money from my own account and therefore, why should I share this information with the Bank?
The extant regulations of RBI require the Banks to closely monitor the large cash transactions and the teller is just discharging his regulatory obligation.

Such an information assists the Bank in identifying any unusual transactions that are being routed through it.

About Us :
The Bank has a very humble but a very inspiring beginning. On 14th September 1918, “The Saraswat Co-operative Banking Society” was founded. Mr. J.K. Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer.

These were people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Society had a commendable sense of service and duty imbibed in them.

Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders.

Contact Us :
The Saraswat Coop Bank Ltd,
Saraswat Bank Ekanath Thakur Bhawan
953, Appasaheb Marathe Marg Prabhadevi
Mumbai- 400 025