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Punjab National Bank Education Loan

Feb 16, 2011 12:33 IST
Punjab National Bank Education Loan
Punjab National Bank Education Loan


Education Loan - Vidyalakshyapurti

The Scheme aims at providing financial assistance to deserving / meritorious students (Indian Nationals) for pursuing higher professional and technical education in India or abroad.

Studies in India:

  1. Graduation courses – B.A., B.Com., B.Sc., etc.,
  2. Post-Graduation courses, Masters & Ph.D;
  3. Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.,
  4. Computer Certificate courses of reputed Institutes accredited to Department of Electronics or institutes affiliated to University;
  5. Courses like ICWA, C.A., CFA, etc.,
  6. Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.,
  7. Regular Diploma/Degree courses conducted by Colleges/Universities approved by UGC/Govt./AICTE/AIBMS/ICMR,
  8. Regular Degree / Diploma courses like Aeronautical, Pilot training, Shippling etc. approved by Director General of Civil Aviation/ Shippinge, if the course is persued in India. In case the course is pursued abroad, the Institue should be recognised by the competent local (abroad) Aviation/Shipping authority.
  9. Advance Diploma in Banking Technology offered by PNBIIT, Lucknow.
  10. Courses offered in India by reputed foreign universities.
  11. Other courses leading to Diploma/Degree etc. conducted by colleges/universities approved by UGC/Govt./AITCE/AIBMS/ICMR etc.
  12. Courses offered by National Institutes and other reputed Private Institutes.
  13. Diploma courses, Diploma Leading to Degree Courses local as well as abroad and courses offered by recognised universitis of repute through distance learning etc.

Studies Abroad:

  1. Graduation- for job oriented professional/technical courses offered by reputed universities abroad.
  2. Post Graduation cources- MCA, MBA, MS, etc. offered by reputed universities abroad.
  3. Courses conducted by CIMA- London, CPA in USA etc.

Students should approach the branch nearest to the place of residence of their parents.

Interest is charged monthly on simple basis during the repayment holiday/moratorium period & concession of 1% in rate of interest is allowed provided the same is serviced regularly during study period.
Punjab National Bank has tied up with Kotak Mahindra Insurance to provide life insurance cover for Student borrowers.

Eligibility: Student eligibility

  • Should be an Indian National.
  • Secured admission to Professional / Technical courses in India or abroad through Entrance Test / Merit based Selection process..

Expenses considered for Loan

  • Fee payable to College / School / Hostel
  • Examination / Library / Laboratory fee.
  • Purchase of books / equipments / instruments / uniforms.
  • Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts, subject to the condition that the amount does not exceed 10% of the total tution fee for entire course..
  • Travel Expenses / Passage money for studies abroad.
  • Purchase of computers - essential for completion of the Course.
  • Insurance premium for student borrower
  • Boarding and lodging expenses in recognised Boarding Houses / private accomondations
  • Any other expense required to complete the course - like study tours, project work, thesis etc.

Quantum of Finance:

Need based finance, subject to repaying capacity of the parents / students with margin and the following ceilings:

  • For studies in India: Maximum Rs.10.00 lacs.
  • For studies abroad: Maximum Rs.20.00 lacs.

Margin:  Upto Rs.4.00 lacs - Nil
Above Rs.4.00 lacs - Studies in India 5% , Studies Abroad 15%


  • Upto Rs.4.00 lacs:  Co-Obligation of Parents. No Security
  • Above Rs 4.00 lacs and Upto Rs 7.5 lacs: Co-Obligation of Parents together with collateral security in the form of suitable 3rd party guarantee acceptable to the Bank
  • Above Rs 7.5 lacs: Co-Obligation of Parents. Collateral Security of suitable value along with Assignment of future income of the student for payment of installments.

The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares/ Mutual Funds/ 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.

Repayment Holiday / Moratorium: Course period + 1 year OR 6 months after getting job, whichever is earlier.
The Principle 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.

Upfront Fee:
For Study in India - Nil
For Study abroad - @ 0.50% with a maximum of Rs. 5000/-(refundable on availment of the loan amount)

Documentation Charges:
Upto Rs. 4 lacs - Rs. 270/- + Service Tax & Education Cess
Above Rs.4 lacs - Rs. 450/- + Service Tax & Education Cess

Additional Benefits provided to the students by PNB:

  • A rebate of 0.50% in rate of interest permitted to women beneficiaries for loans up to Rs. 10 lac for studies in India and Rs 20 lac for studies abroad for existing as well as new girl student borrowers wef. 08.03.2009.
  • Second time Education Loan can be sanctioned to the same student borrower for completion of next higher course.
  • Reimbursement of fee available.

Check List: While applying for the loan, the borrower is required to furnish the following information/papers:

  1. Loan application on Bank's format.
  2. Passport size photograph
  3. Proof of Address(Permanent) / ID Proof.
  4. Proof of Age.
  5. Proof of having secured pass marks in last qualifying examination.
  6. Letter of admission in professional, technical or vocational courses.
  7. Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned.
  8. Details of Assets & Liabilities of parents.
  9. In case loan amount is above Rs.4.00 lacs :
  10. Detail of Assets & Liabilities of parents/co-obligants/ guarantors.
  11. In case loan is to be collaterally secured by mortgage of IP, Copy of Title Deed, Valuation Certificate and Non Encumbrance Certificate from approved Lawyer of the Bank to be obtained at the cost of the borrower.
  12. Photocopy of Passport & Visa, in case of study abroad.
  13. Any other document/information, depending upon the case and purpose of the loan.


Click here for Further Information




Post Comment
71 Comment

fariyal zabi,

Sir...mereko education loan chahiye bams knee k liye...because mere papa nahi h...or mujhe study krni h...plz mere ko puri detail btao ki kya processer h Thank u

vikas kumar,

Sir, I want to pay my education loan in one payment after 4year which will complete in 2017. My education loan is rs 390000. What amount I have to pay,please give me information.

jagdeep singh,

R/sir I want to do engineering after +2 . Please give me info about loan scream


I want to education loan


Sir, I want to take loan for B.A. please give me all information this loan .And Thanks Of Punjab National Bank For loan searvise.


Sir I want to take a loan for B.A. Please give me all information Of this lon.Mob.08607066220. Thanks PUNJAB NATIONAL BANK FOR THIS LOAN SEARVISE.

Munfed Ali,

Sir I want to take loan for b.ed. how I get the loan plz ans. Plz.

brabra hook,

hello to the world at large ,my name is laurenta kiesha from USA,i never think i well succeed in getting a loan from the internet,i am so confident to say that Mrs susanmunroe is a legitimate loan company on the internet world , i pray that God we bless him for his kindness to me and my family,i want to advise all loan seekers to consult them on SUSANMUNROELOANFIRM77@HOTMAIL.COM for more information.she give out all kind of loan at 2%,give a try and share your testimony to other.


Sir i have 58%marks in graduation....m i able to take education loan for mca cource?pls reply


i want became a doctor


i want further study in rajasthan university for masters and want a loan of 2 lac so please give me a detail about loan

sanatombi chenglei,

will u please tell me some of the best books for passing bank p.o?


When i go to pnb which is situated at mirganj for education loan than branch manager says that there is no people present here who verify your documents .than i will come at home .what is this

amiya dutta,

Pl. tell Branch with phone number in KOLKATA where i get information about education loan.

amiya dutta,

i living in kolkata like to take educational loan , kindly tell me in which branch of kolkata i have to contact for education loan (with phone number)

Punit Agarwal,

Dear Sir, Any provision to get the schedule letter of emi and int. charges into the Edu. loan. i hv taken loan from 2009 of Rs.4 lacs, after completion my degree i was paid 3 Installments but these installment debited in late fees of loan. pl confirm if any online site to will be get the details of loan.


sir 70,000 ka kitna intrest lgega

prerna pandey,

sir 1 lacs ka kitna intrest lagega , interest padhai complete hone ke bad lagega ya starting se lagega


pl contact me urgent

Raj kumar pandey,

sir 4 lacs ka kitna intrest lagega

sandeep dwivedi,

sir,in your atm service machine there is not multiple of100rupees so please sir we are student ,we need like100rupees


sir can i get educational lone in pnb through directadmission in eng

durgesh rai,

Sir i want to ask that if i will take loan 4laks in my studey time what will intrest increse?????

Danish Khan,

I wanhna check my ability

ankul kumar,

education loan details me bataiye & kitna persent byaz lagega

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