Education Loan

PNB Education Loan Program 2023

PNB Education Loan Program 2023

PNB Education Loan Program 2023 – Hi Everyone! Hope you are all doing well. Welcome back to another blog. Nowadays it’s become difficult to complete higher education, due to highly expensive universities, and the increase in the rate of educational materials, like books, etc. To provide you with a high-quality education, without worrying about expenses, I’m here to tell you an opportunity. Punjab National Bank provides education loan programs to students that are willing to study in highly reputed universities of both India and outside India. The best thing is that these PNB loan programs are provided to you without collateral, least interest rate, and provides you the chance to save money. So, read the whole blog carefully and get all the details related to the education loan programs offered by Punjab National Bank in 2023.

PNB Education Loan Program 2023
PNB Education Loan Program 2023
Bank Punjab National Bank
Loans PNB Udaan
PNB Saraswathi
PNB Honhaar
PNB Pratibha
PNB Kaushal
Interest Rate 7.30% to 9.20%
Age Limit No Age Limit
Repayment Period 7 to 15 years
Official Website Oneindia. in

What is an Education Loan?

An education loan is a loan of money gotten by a person to complete their higher education in India or outside India. Education loans help you to complete your education without any expenditure pressure. And, you have to repay the money from the loan after the completion of your degree or course. Or you can get a chance to refund your loan, about 6 months after completion of the degree, or six months after getting a job. The interest rates are low for education loans, and suitable refunding facilities are applicable. It provides you the chance to complete any degree from any university of your student’s choice.

About PNB

Punjab National Bank is a private bank that was established in 1894 by Indian personalities to help the people of India and to increase the economic rate of India. Its headquarters are located in New Delhi and are considered the oldest banking system in India. It has 6937 branches in 764 cities, with 80 million clients and 16,684 ATMs.

Benefits of PNB Education Loan

The following benefits are included in the PNB education loan programs for students;

  • Least-interest rate
  • Fewer form-fillings
  • No dispensation fees
  • Faster Outlays
  • No installment charges
  • 0.50% discount for female students

PNB Education Loan

PNB provides different education loan opportunities for students that are willing to complete their higher education from class 12th to Graduate degree. The offered loan programs at Punjab National Bank are;

PNB Udaan

The Udaan PNB education loan scheme is the most famous and prestigious. It provides loan opportunities to students that are willing to study abroad, and students that have enrolled in an overseas university with an entrance or merit-based process after completion of 10+2. PNB Udaan scheme provides you the chance to pay back your loan in 15 years after the completion of your program. The following courses are available in the PNB Udaan scheme;

  • Job-oriented professional graduation courses.
  • Post-graduation courses like MCA, MBA, and MS.
  • Diploma or degree courses, documented by experienced establishments abroad for the aim of giving employment to the students.
  • Courses offered in institutes like CIMA (London), and CPA (USA).
Eligibility Must be an Indian national.
Must have completed the admission process at the university
Interest Rate 7.30% – 9.80%
Quantum of Finance Need-based Investment focus on the refund
the volume of the parents/students with boundaries.
Compensation of fees paid within six months
may be measured on individual facts of the case.
Loan Amount As needed
Margin Up to 4.5 Lakhs- Nil
Above 4.5 Lakhs-5%
Security Up to 7.5 lakhs
Repayment Period Maximum 15 years
Repayment Mode In Equated Monthly Installments (EMI)

PNB Saraswathi

The Saraswathi PNB education loan scheme is the most famous and prestigious. It provides loan opportunities to students that are willing to study at Indian universities. PNB Saraswathi scheme provides you the chance to pay back your loan in 15 years after the completion of your program. The following courses are available in the PNB Saraswathi scheme;

  • Offered by IITs, IIMs, NIFT, etc.
  • ICWA, CA, etc.
  • UGC/AICTE/ICMR etc. permitted graduation, postgraduation, and diploma courses.
  • Banking Technology diploma accessible by PNB in association with IIT Lucknow.
  • Accessible by foreign institutes in India.
Eligibility Applicant be Indian National
Must have completed the admission process at an Indian university
Interest Rate 7.30% – 9.80%
Expenses for the Loan Nil
Quantum of Finance Need base Economics subject to refund
volume
Compensation of fees paid within six months
may be measured on individual facts of the case.
Loan Amount As per Requirement
Margin Up to 4.5 Lakhs- Nil
Above 4.5 Lakhs-5%
Security Up to 7.5 lakhs
Repayment Period Maximum 15 years
Repayment Mode In Equated Monthly Installments (EMI)

PNB Honhaar

The Honhaar PNB education loan scheme is the most famous and prestigious. It provides loan opportunities to students that are willing to study skill development courses in Delhi. PNB Honhaar scheme provides you the chance to pay back your loan in 15 years after the completion of your program. Applicants that want to complete their degree from any institute in Delhi are eligible to apply for the loan. No collateral security is applicable.

Eligibility Applicant must be an Indian national
Must have completed the admission process in any Delhi institute
Interest Rate 9.20%
Quantum of Finance Need-based finance up to 10 lakhs
Loan Amount
Margin NILL
Security The parent or guardian must be the co-borrower
Repayment Period Maximum 15 years
Repayment Mode Through EMI

PNB Pratibha

The Pratibha PNB education loan scheme is the most famous and prestigious. It provides loan opportunities to students who have completed the admission process in premier Indian educational institutes like ISBs, IIMs, IITs, TISS, SPJIMR, AIIMS, BITS, Army College of Medical Sciences, etc. PNB Pratibha scheme provides you the chance to pay back your loan in 15 years after the completion of your program. The applicants that want to complete their full-time degree/diploma courses, Part-time postgraduate courses in Management for Executives (all IIMs), and postgraduate program in Management for Senior Executives (ISBs) are eligible to apply for the loan.

Eligibility Must be Indian
Must have completed the admission process in regular full-time Degree/ Diploma
Part-time Post Graduate Programs in Management allowed
PGPMAX is accessible by the Indian School of Business
Interest Rate 7.20% – 7.80%
Quantum of Finance Need-based Investment focus on the refund
the volume of the parents/students with boundaries.
Compensation of fees paid within six months
may be measured on individual facts of the case.
Loan Amount As Required
Margin Scholarship comprised Margin may be in year-to-year base
Security Co-borrower of parents/ guardians
Repayment Period Up to 15 years
Repayment Mode Through EMI

PNB Education Loan Interest Rate

Now I will tell you the interest rates applicable to the PNB education loan schemes;

Loan Interest Rate
PNB Udaan 7.30% – 9.80%
PNB Saraswathi 7.30% – 9.80%
PNB Honhaar 9.20%
PNB Pratibha 7.20% – 7.80%
PNB Kaushal 7.30% – 8.70%
PNB Pravasi Shiksha 9.20%

How to apply for PNB Education Loan?

If you are willing to apply for the PNB Education Loan then follow the following steps;

  • Visit the official website of the Punjab National Bank
  • In the ‘Products’ segment, you will find a ‘Loans; segment. Under that, choose ‘Retail’
  • Under this, you will find ‘Education Loans’, click on ‘Select More’
  • Here, you will discover a line of Educational Loan schemes that are available. On the right, you will see an option to ‘Apply Online
  • After that, you will be redirected toward Vidya Lakshmi Portal
  • Fill out the application Form
  • Submit the application form and you will be reached by the Punjab National Bank Demonstrative for more process

Documents Required

The following documents are required to apply for the Punjab National Bank Education Loan programs 2023;

  • Evidence of Age
  • Evidence of Residency
  • Passport size photographs
  • Admission Letter issued by the university
  • Loan Applicant Bank Form
  • Copy of PAN Card of the Student
  • Course Prospectus including Admission fees, Hostel Charges, etc.

PNB Education Loan College List

PNB education loan programs, offer education loans in hundreds and thousands of colleges and institutes in India and outside India. Now below I will mention the list of colleges in India to study abroad;

College List to study Abroad

  • University of Oxford
  • California Institute of Technology
  • Stanford University
  • University of Cambridge
  • Massachusetts Institute of Technology
  • Harvard University
  • Princeton University
  • Imperial College London
  • ETH Zurich – Swiss Federal Institute of Technology Zurich
  • University of California, Berkeley

Here are the Other Institutes that take Punjab National Bank Education Loan

College List to study in India

  • Delhi College of Engineering (DCE)
  • Indian Institute of Information Technology (IIIT), Hyderabad
  • National Academy of Legal Study and Research University of Law, Hyderabad (NALSAR)
  • The National Law Institute University (NLIU), Bhopal
  • The West Bengal National University of Juridical Sciences (WBNUJS), Kolkata
  • IIM Lucknow, Noida Campus
  • Indian Institute of Management (IIM), Ahmedabad
  • Indian Institute of Management (IIM), Bangalore
  • Indian Institute of Management (IIM), Indore
  • Indian Institute of Management (IIM), Kolkata

Download the Full List of Institutes that cover PNB Pratibha.

Refunding facts about PNB Education Loans

Punjab National Bank provides suitable facilities to the students. The following methods are provided to the students to repay the loans;

  • Every loan scheme has a variable period of loan funds allotted to them.
  • No drawback for the advance of the loan
  • Loan payment preferably starts after six months to one year of achievement of the course
  • Maximum loans need a co-borrower for the loan

Also, Pattern Credits By

Other Subsidy Options

 

 

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