Education loan PNB:
Punjab National Bank aims to provide education loan to the Indian students who are willing to study for higher education in India and abroad.
- Courses and colleges approved by AICTE/UGC/Govt. recognised institutes like IIT/IIM
- C.A., CFA, IFC are also financed.
- Students from management quota are also provided with loan facilities.
- Courses provided by reputed foreign institutes are also financed.
- Evening classes for the job oriented students for the courses approved by the main working bodies are also considered.
- Graduation/post graduation courses in well recognised universities.
- Degree/Diploma courses for aviation, shipping industries for the employment in India/foreign.
- Student should be of Indian Nationality.
- Marks obtained by student in 10+2 must be above 60% for general category and 50% for SC/ST/OBC category.
Expenses That Fall Under Consideration of Loan:
- College/hostel/School fees.
- Purchase of books/uniforms/instruments/laptops.
- Library/laboratory/examination fees.
- Refundable deposits (maximum 10% of tuition fee)
- Travel expenses/ passage money for abroad.
- Any other expenditure required to complete the course of education like training and project work are also financed.
For abroad education Rs.20 lacs and for Indian education Rs. 10 lacs are the limits set by PNB.
Rate of Interest And Repayment Time:
Repayment of the loan starts after the period of 1year of the completion of the course or 6 months after securing a job, whichever falls first.
Rate of Interest lies within the limit of 13% to 14.5% per annum.
Loan up to Rs.7.5 lacs can be cleared within 10 years and above Rs. 7.5 lacs have the limit of 15 years.
Online Application Form:
The loan application form could be filled online by visiting to the official website of Punjab National Bank.
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