PNB Education Loan

PNB Education Loan is a financial solution offered by Punjab National Bank (PNB) to support students in pursuing their academic aspirations. Tailored to meet the diverse needs of education, this loan provides a convenient and accessible way for students to fund their studies and achieve their educational goals.

Read more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

About PNB Education Loan

Punjab National Bank provides affordable educational loans to help students finance their higher education in India. The bank provides competitive interest rates and flexible repayment options, extending up to 15 years. These loans can be used for both undergraduate and postgraduate studies, as well as for professional courses.

Diverse educational pursuits such as higher studies in India or abroad, vocational training, premier institute education, and higher studies in Delhi are eligible to apply for a PNB education loan. 

The loan is open to individuals born outside India who aspire to pursue higher education within the country.

PNB Education Loan Interest Rates 2024

PNB Education Loan Scheme Interest Rates (in % p.a.)
PNB Saraswati  10.00% - 10.75%
PNB Pratibha  8.20% - 10.50%
PNB Udaan  10% to 11.25% 
PNB Kaushal  10.25% to 10.75% 
PNB Honhaar  11.25% 
PNB Pravasi Shiksha Loan  11.25% 
PNB PM CARES Education Loan Scheme 9.50% to 10.00% 

List of PNB Education Loan Schemes

The Punjab National Bank provides the following types of education loans in India:

  • PNB Saraswati

  • PNB Pratibha

  • PNB Udaan

  • PNB Kaushal

  • PNB Honhaar

  • PNB Pravasi Shiksha Loan

  • PNB PM Cares Education Loan Scheme

Let us learn the key features of these plans in detail below.

  1. PNB Saraswati

    The key features of the PNB Saraswati Education Loan Scheme are as follows:

    Particulars Details
    Interest Rate 11.25% p.a.
    Processing Fee NA
    Collateral
    • Up to Rs.7.50 lakhs: Guardian or parent as a joint borrower
    • Above Rs.7.50 lakhs: Parent or guardian as joint borrower, along with tangible collateral security of appropriate value.
    Loan Tenure Up to 15 years
    Eligibility
    • Indian citizenship
    • Admission through Merit-Based Selection or Entrance Test at a recognized institution in the country
    • Management quota considered on a merit basis.
  2. PNB Pratibha

    The following table shows the key features of PNB Pratibha Student Loan Scheme:

    Particulars Details
    Interest Rate 10.50% p.a.
    Processing Fee NA
    Collateral Co-borrower required (parent or guardian)
    Loan Tenure Up to 15 years
    Eligibility Criteria
    • Indian citizenship
    • Admission to a Diploma course or regular full-time degree at a premier Indian institution (list on PNB official website)
    • Admission to Part-Time Graduate Programme (Management for Executives) at Indian Institute of Management
    • Admission to Post Graduate Programme (Management for Senior Executives) at Indian School of Business (Hyderabad or Mohali campus)

    People also read: Child Education Plan

  3. PNB Udaan

    The key features of the PNB Udaan student loan scheme are listed in the following table:

    Particulars Details
    Interest Rate Up to 11.25%
    Processing Fee 1% of the loan amount (minimum Rs.10,000); refundable post first disbursement
    Collateral Varies with loan amount:
    • Up to Rs.7.50 lakhs: Parent or guardian as a joint borrower
    • Above Rs.7.50 lakhs: Parent or guardian as joint borrower + tangible collateral security of appropriate value
    Loan Tenure Up to 15 years
    Eligibility Criteria
    • Indian citizenship
    • Selection at recognized institution in India through Merit-Based Selection or Entrance Test

    Investment Investment
    Secure Secure
    Child Banner
    Secure your child’s future with or without you
    Start Investing
    ₹10,000/Month
    & Get
    ₹1 Crore*
    *Standard T & C Apply
  4. PNB Kaushal

    Following are some of the key features of PNB Kaushal education loan scheme:

    Particulars Details
    Interest Rate Up to 10.75%
    Processing Fee Nil
    Collateral Parent or guardian as co-borrower
    Loan Tenure Varies with loan amount:
    • Up to Rs.50,000: Up to 3 years
    • Rs.50,000 to Rs.1 lakh: Up to 5 years
    • Above Rs.1 lakh: Up to 7 years
    Eligibility Criteria
    • Indian citizenship
    • Admission to a course offered by Industrial Training Institutes (ITIs) or in a recognized school
  5. PNB Honhaar

    The following table shows the features of PNB Honhaar education loan scheme:

    Particulars Details
    Interest Rate 11.25% p.a.
    Processing Fee Nil
    Collateral Parent or guardian as co-borrower
    Loan Tenure Up to 15 years
    Eligibility Criteria
    • Indian citizenship
    • Completed Class X and Class XII
    • Admission to a recognized university for degree, diploma, or skill development courses in Delhi

    People also read: pnb metlife small cap fund nfo

  6. PNB Pravasi Shiksha Loan

    You can learn the key features of PNB Pravasi Shiksha Education Loan from the table mentioned below:

    Particulars Details
    Interest Rate 11.25%
    Processing Fee Nil
    Collateral Parent or guardian as co-borrower
    Loan Tenure Up to 15 years
    Eligibility Criteria
    • Indian citizenship
    • Completed Class X and Class XII
    • Admission to a recognized university for degree, diploma, or skill development courses in Delhi
  7. PNB PM Cares Education Loan Scheme

    Let us understand the key features of PMB PM Cares Education Loan Scheme for the following table:

    Particulars Details
    Interest Rate 11.25%
    Processing Fee Nil
    Collateral Parent or guardian as co-borrower
    Loan Tenure Up to 15 years
    Eligibility Criteria
    • Indian citizenship
    • Completed Class X and Class XII
    • Admission to a recognized university for degree, diploma, or skill development courses in Delhi
Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

PNB Education Loan EMI Calculator

You can use an EMI Calculator for quick and easy monthly payment calculations. Simply input the loan amount, tenure, interest rate, and processing fee to instantly view details like principal paid, interest paid, and outstanding balance. Save time with this user-friendly tool.

Steps to Apply for PNB Education Loan

To apply for an education loan with Punjab National Bank, follow the simple steps mentioned below:

Step 1: Go to the official website of PNB Bank.

Step 2: Click on 'Retail' in the 'Product' menu.

Step 3: Download your preferred education loan application form.

Step 4: Fill out the printed form.

Step 5: Submit the completed form to your nearest PNB branch for further processing.

People also read: Sukanya Samriddhi Yojana

Eligibility Criteria for PNB Education Loan

To be eligible for PNB education loans, you must generally meet the following criteria:

  • Indian citizen or resident

  • Minimum age of 18 years

  • Good academic record

  • Admission secured in a recognized educational institution

Documents Required for PNB Education Loan

Category Documents Required
Application Application form
Photographs Passport-size photographs
Identity Proof PAN Card, Aadhaar Card, Passport, Voter's ID, Driving License
Address Proof Voter's ID, Driving License, Aadhaar Card, Passport
Academic Documents 10th and 12th exam marks cards, Marks cards of further education, Entrance Exam mark sheet, GRE/IELTS/TOEFL/GMAT mark sheets, Scholarship documents (if applicable), Proof of admission
Financial Documents Income proof of co-borrower or guarantor, Collateral documents, Bank statements
Additional Requirements Any other document requested by the bank

Conclusion

The PNB Education Loan serves as a valuable financial tool, providing crucial support to students aspiring for higher education. With competitive interest rates, flexible repayment options, and a straightforward application process, PNB demonstrates its commitment to empowering the pursuit of knowledge. This loan stands as a commendable resource for students and their families, fostering educational dreams and contributing to a brighter future.

FAQ's

  • What is the interest rate of PNB on education loans?

    Punjab National Bank (PNB) offers a variety of education loans with competitive interest rates. The specific interest rate you will be offered will depend on your course of study, your year of study, your academic performance, and your credit history. However, you can expect the interest rate to be between 10.50% and 11.25%.
  • How long does it take to get an education loan from PNB?

    The processing time for a PNB education loan typically takes between 3 to 15 working days. The exact timeframe may vary depending on the complexity of your application and the availability of supporting documents. To expedite the process, ensure you have all the required documents gathered and submitted promptly.
  • Can I get a Rs. 4 lakhs education loan from PNB?

    Yes, you can get an education loan of up to Rs. 4 lakhs from Punjab National Bank (PNB) under their PNB Saraswati scheme. This scheme is specifically designed for students pursuing higher education courses in India.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3

Child plans articles

Recent Articles
Popular Articles
Sukanya Samriddhi Yojana Online Payment

10 Jun 2024

The Sukanya Samriddhi Yojana (SSY) is a government-backed
Read more
Sukanya Samriddhi Yojana Passbook Online

07 Jun 2024

The Sukanya Samriddhi Yojana (SSY) is a government scheme in
Read more
Pradhan Mantri Matru Vandana Yojana

06 Jun 2024

The Pradhan Mantri Matru Vandana Yojana (PMMVY), launched in
Read more
Child Education Planner

05 Feb 2024

Ensure your child's dreams come true with a Child Education
Read more
Indian Bank Education Loan

16 Jan 2024

Indian Bank stands tall as a reliable partner in your academic
Read more
Top 12 Government Schemes for Girl Child
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
Prime Minister Schemes For Boy Child
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
Sukanya Samriddhi Yojana Calculator
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that aims to create a corpus to
Read more
Best Child Investment Plans to Invest in 2024
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL