How To Get Finance For PGDBF Courses of Syndicate Bank ?

Syndicate Bank has recently published the recruitment notification for 500 Probationary Officers vacancies (PO). Click here for notification.The recruitment will be done through Post Graduate Diploma in Banking & Finance (PGDBF).Under this scheme the selected students went through induction training at Manipal Global Education Services Pvt Ltd, Bangalore (MaGE) and Nitte Education International Pvt Ltd.(NEIPL), Greater Noida/ Mangaluru. The intake of students in each batch will be decided by the Bank, as per requirement.

Candidates who selected through this process needs to go through training cum postgraduate program at above colleges/center at their own cost. The total cost for the bank is much higher but bank will charge candidates Rs 3.50 lakhs which includes both boarding & tuition charges. Beside this there are other charges which are for taking certain mandatory certification like NISM or NSE Depository.

How To Get Loan for Syndicate Bank PGDBF ?

Candidates needs to pay the total fees amount of Rs 3.50 lacs plus other charges. Candidates with self finance the course or take a loan from financial institute. Syndicate bank provides facilities to all the successful candidates to get loan from their own branches. The process of getting the finance for Syndicate Bank :

  1. After successfully passing the exam candidates will receive the call letter from Syndicate Bank mentioning all the details for verification
  2. Post verification, candidates are provided with joining letter
  3. Candidates may visit any of the Syndicate bank branch nearer to their native place for loan financing
  4. Provide the joining letter and other related document pertaining to Synd Vidya loan to branch
  5. Fill the loan application and submit the document
  6. Bank will process the loan amounting Rs 3.50 lacs or actual cost
  7. Get a sanction letter from Syndicate Bank

Payment of Interest and Moratorium Period

The EMIs for the loan would start from the month of joining the Bank. There would be no recovery of EMIs or interest during the course period of One year and the interest accrued during this course period of one year would be recovered along with the normal EMIs. The EMIs are spread over a period of 84 months (7 years) to ensure that there is minimal impact on the monthly earnings of the Probationary Officer.

Refund of Education loan availed 

Syndicate bank has kept the provision of refunding the course fees and loan thereon if any through loyalty bonus. Rs 500000/- shall be paid to the Officers at the rate of Rs 100000/- for every completed year of service after 5 years of continuous and satisfactory service in the Bank from the date of joining the service (i.e. Rs. 100000/- each on completion of 6th, 7th, 8th, 9th & 10th year of continuous and satisfactory service), subject to regularity of education loan if availed.

Syndicate Bank will pay the stipend during nine months class room training. Students shall be paid a sum of Rs 3000/- pm as stipend and during the next three months of internship a stipend of Rs 15000/- pm shall be paid.

Calculate Education Loan EMI

We will be happy to hear your thoughts

Leave a reply

Digital Banking FAQs & Helpdesk