PNB Pravasi Shiksha Loan

About PNB Pravasi Shiksha Loan

The PNB Pravasi Shiksha Loan established by PNB enables financial support for Indian students studying at home and for Overseas Citizens of India students, along with People of Indian Origin students and those with an Indian birthplace. The main hurdles to academic success cannot stop ambitious students because education loans from this loan program receive financing support.

Key Features of PNB Pravasi Shiksha Loan

• Participants in the PNB Pravasi Shiksha Loan must obtain their parents as additional borrowers when requesting more than ₹7.5 lakh or surpassing that amount. The plan operates without requiring borrowers to supply any real property beyond those cases.

• Students can use this loan to finance any required academic expense, such as tuition fees that combine with hostel costs, book purchases, and instrument procurement for uniforms and all necessary library items.

• After finishing their studies, students get one year until they begin loan repayments, and they have time to search for a job position for better financial stability.

Eligibility Criteria

The PNB Pravasi Shiksha Loan requires candidates to fulfil these specific requirements:

• The PNB Pravasi Shiksha Loan is available to Indian parents who reside abroad along with their student-born children and OCI/PIO citizens of India.

• The applicant must turn 18 years old before applying for the loan.

• Students who have received admission acceptance to particular Indian higher education institutions need to apply through the loan process.

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

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*Standard T & C Apply

Documents Required

Early approval mandates that candidates, along with co-application supporting members, submit the following paperwork:

• Passport, driving license, PAN card, or voter ID.

• Utility bills such as electricity or water bills or proof of valid address.

• Official letter of admission from the educational institution.

• Students at the institution can obtain comprehensive fee information through educational materials.

• Mark sheets of previous academic qualifications (e.g., 10th, 12th, and recent mark sheets).

Interest Rates and Repayment Terms

The PNB Pravasi Shiksha Loan provides its borrowers with competitive interest rates.

• The yearly interest falls between 11.25% per annum.

• This loan has a maximum reward period of 15 years, depending on the loan conditions and the amount.

Most Important Terms and Conditions

Loan applications are accessible at both specified national and private educational institutions across India for full-time studies:

• The loan payment duration begins after the moratorium term ends, the same length as the course duration, and then lasts for an additional twelve months.

• Financial institutions determine the floating interest rate for this loan according to the Repo Rate.

• Borrowers can enjoy tax benefits through Section 80E of the Income Tax Act when they pay education loan interest.

Conclusion

The PNB Pravasi Shiksha Loan is a comprehensive financial solution for OCIs, PIOs, and students born abroad aiming to pursue higher education in India. The education loan provides competitive rates together with flexible repayment terms and covers most educational costs to let ambition pursue academic goals without financial barriers.