PNB Education Loan

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

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)

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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

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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

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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

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.

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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

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.