Punjab National Bank Education Loan Summary Table
| Punjab National Bank Education Loan Limit | For India – INR 10 Lacs
For Abroad – 20 Lacs |
| Punjab National Bank Education Loan Interest Rate | 9.65% per annum |
| Punjab National Bank Education Loan Margin | For loan above INR 4 Lacs
In India: 5% In abroad: 15% |
| Punjab National Bank Education Loan Processing Fee | Up to INR 4 Lacs: Nil
Above INR 4 Lacs: INR 5000 |
| Punjab National Bank Education Loan Security | Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee.Above INR 7.50 Lacs: Tangible security along with parents as co-borrower |
| Punjab National Bank Education Loan Repayment | Starts After 1 year of course completion or 6 months after getting a job |
Punjab National Bank Education Loan Features
The need for higher education from a reputed college is increasing which in result improves the chance of getting a well-paid job. However, a university with a good rank costs much more due to its premium faculties and facilities. To overcome this, Education Loan plays an important role in a student’s life!
Education loans serve those students, who have the capabilities and potential. The loan covers their expenses for education such as tuition fees, facilities, etc. The loan can be taken to study in India or even abroad studies. Whatever the case Punjab National Bank is always there to help the students.
Every student can apply for the Punjab National Bank education loan by adhering to the specific criteria and documentation.
Punjab National Bank Education Loan Eligibility
| Parameters | Eligibility Criteria |
| Applicant’s Age |
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| Who Can Apply? |
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| Maximum Loan Amount |
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| Frequency Of Repayment |
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| Repayment Period |
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Punjab National Bank Education Loan Interest Rate
Punjab National Bank Education loan interest rates range from 8.85% and 10.75%.
| Loan Amount Range | Courses in India | Courses Abroad | IIT, IIM, ISB Courses |
|---|---|---|---|
| Loans up to Rs. 4 lakh | 10.50 % , for Girls – 10.00% | 10.50 % , for Girls – 10.00% | 8.85 % |
| Loans Rs. 4.0 – 7.5 lakh | 10.50 % , for Girls – 10.00% | 10.50 % , for Girls – 10.00% | 8.85 % – 10.00% |
| Loans > Rs. 7.5 lakh | 10.75 % , for Girls – 10.25% | 10.75 % , for Girls – 10.25% | 8.85 % – 10.00% |
Punjab National Bank Education Loan Documents Required
Under Know Your Customer Policy (KYC), the bank requires certain documents. These documents are required from both the student and co-borrower:
| Identity Proof | One of any mentioned documents for Identity proof:
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| Residence Proof | One of the following documents for Residence proof (It should not more than 3 months old):
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| Income Proof in case of salaried co-borrower |
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| Income proof for self-employed co-applicant |
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Additional documents: Aside from KYC documents:
| Student Applicant | Mandatory Passport submission |
| Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission | |
| Proof of admission: A conditional application letter may be considered | |
| Cost of education, schedule of expenses. | |
| 2-passport size photographs | |
| If the loan was taken out before then loan account statement for the last 1 year. | |
| Co-applicant | 2-passport size photographs |
| If the loan was taken out before then loan account statement for the last 1 year. |
Punjab National Bank Education Loan Offered Courses
The Education Loan covers courses that are only regular full-time Degree or Diploma courses that the student secured through selection or merit. Punjab National Bank Education Loan also considers Full-time Executive Management Courses like PGPX.
EMI Calculator
Punjab National Bank Education Loan EMI Calculator
Punjab National Bank: Takeover of Education Loan
An Education Loan is Movable, it is basically a process of transferring high-interest debt from one to another lender and with a lower interest rate and better repayment policies.
The Punjab National BankTakeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. Punjab National Bank also gives a 0.50% concession in the interest rate for girls.
How To Apply For Punjab National Bank Education Loan
- Visit Dialabank for an education loan.
- Go to the Punjab National Bank Education Loan page.
- Check out all the eligibility and documents criteria for an education loan.
- Fill out all the details required in the Education Loan application form.
- Once done, our representative will soon contact you for a further stress-free process.
List of Approved Institutes
- Architecture college
- Law college
- Medical college
- Pharmacy college
- Engineering college
- Bio-technology
- college
- Management college
- Science, Commerce, and Arts college
- Physical education college
- B.ED college
