| Eligibility : Student
- Should be an Indian National.
- Secured admission to Professional / Technical courses through Entrance
Test / Selection process.
- Secured admission to foreign University / Institutions.
- Student should have secured pass marks in the qualifying Examination
for admission to Graduation Courses.
Courses
- Students of +2 stag
- Graduation courses – B.A., B.Com., B.Sc., etc.
- Post-Graduation courses
- Masters in Ph.D
- Professional courses - Engineering, Medical, Agriculture, Veterinary,
Law, Dental, Management, Computer etc.
- Computer Certificate courses of reputed Institutes accredited to
Department of Electronics or institutes affiliated to University
- Courses like ICWA, C.A., CFA, etc.,
- Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.,
- Evening Courses of reputed Institutes
- Diploma/Degree courses conducted by Colleges/Universities approved
by UGC/Govt./AICTE/AIBMS/ICMR, etc.,
- Courses offered by National Institutes and other reputed Private
Institutes.
Loan Details
Coverage of expenses
- Fee payable to College / School / Hostel
- Examination / Library / Laboratory fee.
- Purchase of books / equipments / instruments / uniforms.Secured
admission to foreign University / Institutions.
- Caution Deposit / Building Fund / Refundable Deposit supported
by Institution Bills / Receipts.
- Travel Expenses / Passage money for studies abroad.
- Purchase of computers - essential for completion of the Course.
- Boarding and lodging expenses in recognised Boarding Houses / private
accommodations
- Any other expense required to complete the course - like study
tours, project work, thesis etc.
Quantum
- For studies in India - Maximum Rs.10.00 lacs.
- For studies Abroad - Maximum Rs.20.00 lacs.
Margin
- Upto 4 lacs - Nil
- Above 4 lacs for
- Education in India - 5%
- Education Abroad - 15%
Security
- Upto Rs.4.00 lacs - No Security
- Above Rs 4.00 lacs and Upto Rs 7.5 lacs - 3rd party guarantee acceptable
to the Bank
- Above Rs 7.5 lacs - Collateral Security of Suitable value or suitable
3rd party guarantee
The security can be in the form of land / building / Govt. Securities
/ Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares
/ Debentures, Bank Deposit in the name of the student parent / guardian
or any other third party with suitable Margin.
The document should be executed by both the student and the parent/guardian.
Rate of Interest
- Upto Rs. 4 lacs-10.50%
- Above Rs.4 lacs -11.25%
The interest shall be debited monthly on simple basis during the Repayment
holiday/ Moratorium period.
Penal Interest @ 2% be charged for above Rs.4.00 lacs for the overdue
amount and overdue period.
1% Interest concession for servicing of interest during the study period
regularly is allowed at the time of start of repayment period of loan.
Repayment Course period + 1 year OR 6 months after
getting job, whichever is earlier.
The Principal and interest is to be repaid in 5-7 years after commencement
of repayment. If the student is not able to complete the course within
the scheduled time, extension of time for completion of course may be
permitted for a maximum period of 2 years.
Additional Benefits provided to the students by PNB
- Reimbursement of related expenses such as admission fee, monthly
fee, Boarding and lodging expenses in recognized Boarding Houses etc.
already incurred by way of loan taken from own sources (to meet the
contingency) by the applicant, if claimed within 3 (three) months
of such payment and before consideration of the loan by the Bank.
- Second time Education Loan can be sanctioned to the same student
borrower for completion of next higher course.
Contact Details
Head Office
Punjab National Bank Ltd.
7, Bhikhaiji Cama Place,
New Delhi- 110066
Fax : 011-26196176
E-mail : Contact
Now
Website : visit
Punjab National Bank Zonal Offices |
