Syndicate Bank''s subsidises educational loans

Mangalore: Syndicate Bank has decided to make available 2 per cent interest subsidy on education loans - the scheme formulated by the Union Government for bright and needy students pursuing higher studies.

A bank release said here on Wednesday that the interest subsidy is admissible to all new accounts arranged after March 1, if the total loan amount does not exceed Rs 4 lakh.

Another press release by the bank said that the meeting of the board of directors is scheduled to be held in Bangalore on May 6 to take on record the audited financial results for the year ended March 31, and to consider final dividend, if any, declared by the bank.