PNB Pratibha

About the PNB Pratibha Scheme

The PNB Pratibha Education Loan scheme provides need-based financial support for students admitted to premier institutes, including business schools, engineering, and medical colleges. The scheme covers various academic expenses, ensuring the student can manage the costs. The scheme considers financial aspects like child education allowance, helping structure repayments based on institutional classification. The scheme focuses on recognised institutions, offering a personalised approach to financing depending on the student's financial capability.

Rate of Interest

Features of the PNB Pratibha Education Loan Scheme

• Loan Amount: It is need-based and covers the amount necessary to purchase any material related to the course.

• Repayment Period: The flexible repayment period for the loan is set for a maximum of 15 years.

• Co-borrower Requirement: The bank requires the co-borrower, usually a parent or guardian, along with the primary applicant.

• Moratorium Period: Repayment starts after the course duration, plus an additional year to ease the transition.

• Tax Benefit: The interest paid on this loan qualifies for a deduction under Section 80E of Income Tax Act.

• Additional Coverage: It also includes costs such as books and equipment, sometimes even for a two-wheeler.

• Structured Funding: The loan aligns with a child education plan, providing essential academic expenditures.

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 for the Scheme

• You must be an Indian resident.

• Admission in recognised premier institutes for full-time-degree courses, Diploma and Post-graduate courses (Annexures A and B).

• Enrolled under part-time post-graduate management programmes offered by IIM, ISB-PGPMAX, or XLRI - Business Management for Executives.

• Secured admission to the e-Post Graduate Programme in management for executives at IIMs (Distance Learning mode).

• Enrolled in the Post Graduate Diploma in Management (BFS) given by NIBM Pune.

Documents Required

• Identity Proof: PAN card, passport, voter ID card, or driver's licence.

• Address Proof: Passport, voter ID, driving licence, or utility bill.

• Proof of Age: PAN card, Passport, or Statutory Certificate.

• Educational Qualification: 10th-grade and 12th-grade marks sheets.

• Income Proof: Salary Certificate and Form 16 for salaried, ITR or balance sheets for others, income certificate for low-income applicants

• Income Proof: Salary Certificate and Form 16 for salaried individuals and Income Certificate for low-income applicants. 

• Bank Statements: Twelve months of active bank statements or six to twelve months of salary account statements

• Photograph: Recent passport-size photo

Most Important Terms and Conditions

• Repayment Terms: Moratorium of course duration plus one year.

• Security: Parent/guardian co-obligation as joint co-borrower is a requirement.

• Loan Tenure: Loan repayable period of up to 15 years.

• Loan Amount: Need-based loan with no collateral to loans up to ₹7.5 lakh.

• Tax Benefits: Interest on the loan qualifies for deduction under Section 80E of Income Tax Act.

• Prepayment Charges: NIL.