SBoP, Frankfinn sign MoU for loans to students

Patiala: The State Bank of Patiala and Frankfinn Aviation Services Ltd today signed a memorandum of understanding (MoU) for providing loans to its students all over the country.
The tie-up makes State Bank of Patiala (SBoP) as Frankfinn Institute of Air Hostess Training’s “Preferred Partner Bank”, which will ensure 100 per cent financing of the tuition fee of its students for the one-year courses in aviation crew and hospitality and travel industry.
Announcing the tie-up, Frankfinn’s vice-president, Finance, Ashok Chawla said the career loan would be available for all its students in its 65 centres in the country. The total fee for the one-year course is about Rs 1.2 lakh per year.
The general manager, Planning and Development, SBoP, Sebastian Chacko, said the bank would provide loans at 12 per cent floating rate of interest and the repayment would start only after the course ends.
26/04/07 Chandigarh Newsline