PNB Digi Education Loan

About the PNB Digital Education Loan Scheme

The PNB Digital Education Scheme is an easily accessible loan, whether you are studying in India or abroad. It involves paperless documentation, making managing your loan digitally throughout the course easy. The PNB digital education loan scheme is offered with no collateral requirements and covers expenses for tuition, living, and other required academic costs.

PNB Digital Education Loan Scheme - Rate of Interest

The following is the rate of interest offered when you apply for the PNB Digital Education Loan:

• 8.10% per year

Features of the PNB Digital Education Loan

Below are the features of the PNB Digital Education Scheme:

1. Loan Amount

   The education loan you can apply for is up to INR 4 lakh.

2. Benefits

   The PNB digital education loan offers tax benefits under Income Tax Section 80 E and discounts if you are a female student.

3. Co-applicant

   You must have a parent or guardian to process the digital education loan.

4. Processing fee

   There are no processing fees when you apply for the PNB Digital Education Loan.

5. Repayment

   The repayment period of the PNB digital education loan is made in equal monthly instalments for up to 15 years.

6. Margin

   There is no margin when you apply for a digital education loan.

7. Child Support

   The PNB digi education loan allows parents to plan efficiently for a child's education by offering a Child education plan.

8. Collateral

   The PNB digital education loan is offered with no collateral requirements.

9. Moratorium

   The moratorium period is the course duration, with an additional one year.

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

Eligibility of the PNB Digital Education Loan

To get access to the PNB Digital Education Loan, you have to be eligible for the following:

1. Nationality

   You have to be an Indian citizen.

2. Admission

   You have to be admitted to a recognised premium institution.

3. Exams

   You have to meet the required exams, either TOEFL, GRE, or IELTS.

4. Co-applicant

   A parent or guardian should be present when applying for child education allowance loans with no collateral.

5. Course

   You must pursue a full-time PG Diploma, Degree, or PG Degree course.

Documents Required

To acquire a PNB Digital Education Loan, you will be required to submit the following documents:

1. Application form

   A completed application form

2. Identity proof

   Voter's ID, passport, driver's licence, PAN card, Aadhar card

3. Residence proof

   Electricity bill, telephone bill

4. Admission proof

   Admission certificate to the course in a premium institution

5. Marksheet

   All previous qualification marksheets

6. Expenses schedule

   Costs are scheduled throughout the course

Most Important Terms and Conditions

The following are the terms and conditions you should note while applying for the Child investment plan:

1. Loan Amount

   The loan amount you can apply for is based on the course you are pursuing and the institution admitted.

2. Co-applicant

   Your parent or guardian should be present if applying for loans with no collateral requirements, and they should have a good credit score and stable income.

3. Loan Purpose

   The PNB Digital Education Loan should be used specifically for your educational needs in a premium institution.

4. Collateral

   When applying for a digital education loan, you are accepted to list fixed deposits, residential property, and other tangible assets as collateral.

5. Repayment

   The repayment period you are allowed is up to 15 years.