HYDERABAD: Professional college students staying away from parents can now be proud owners of debit cards worth Rs.10,000 as Syndicate Bank plans to play the father's role in supporting their educational needs.
The bank is planning to help non-local students pursuing professional courses open zero balance accounts with them and provide debit cards to withdraw money for unforeseen contingencies not exceeding Rs.10,000.
However, consent of parents or the guardian is a pre-requisite to enable the account opening. The eligibility of non-local status would be decided on the certificates submitted to the college.
Students don't have to pay abnormal interest rates too as the bank plans to charge Prime Lending Rate (PLR) only. There will be no processing fee, which is a general norm in the banking industry.
All professional and management courses listed in Bank's educational loan scheme would be eligible for coverage and it would be extended to all eligible candidates.