CLICK HERE TO WIN FREE MOBILE RECHARGE

Punjab National Bank Education Loan for Study Abroad

Punjab National Bank (PNB) have special Education loan scheme named `PNB Udaan` for students pursuing Higher Education Abroad.

Objective

To provide financial support to meritorious students for pursuing higher education abroad.

Students Who Secure Admission In COURSES As Under

  • Graduation: For job oriented professional/technical courses offered by reputed universities.
  • Post graduation: MCA, MBA, MS, etc.
  • Courses conducted by CIMA- London, CPA in USA etc.
  • Degree/Diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in abroad for the purpose of employment in abroad.

Education loan to students for pursuing Diploma & Certificate courses other than aeronautical, pilot training, shipping etc from abroad, may be considered, where the loan is backed by liquid security valuing 125% of loan amount in the shape of FDRs/ NSCs/ surrender value of Life Insurance Policies along with establishing the financial credentials of family members (either joint borrower or guarantor) subject to the condition that the said course(s) is recognized/ accredited one.

Purpose

  • Fee payable to college/ school/ hostel.
  • Examination/ Library/ Laboratory fee.
  • Travel expenses/ passage money for studies abroad.
  • Life Insurance premium for student borrower, if applicable.
  • Caution deposit, Building fund/refundable deposit supported by Institution bills/ receipts.
  • Purchase of books/ equipments/ instruments/ uniforms.
  • Purchase of computer at reasonable cost, if required for completion of the course.
  • Any other expense required to complete the course – like study tours, project work, thesis, etc.

Eligibility

  • Should be an Indian national.
  • Should have secured admission to a higher education course in recognized institutions Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or Equivalent).

Quantum of Finance

  • Need based Finance subject to repaying capacity of the parents/students with margin.
  • Reimbursement of fees paid within six months may be considered on individual merits of the case.

Margin

  • Up to Rs. 4 lac – NIL
  • Above Rs. 4 lac – 15%
  • Scholarship/ assistantship be included in margin.
  • Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

Security

  • Upto Rs. 7.50 lacs: Parent(s)/guardian be made joint borrower (s). No tangible Security and /or 3rd party guarantee is required.
  • Above Rs.7.50 lacs: Parent(s)/guardian be joint borrower(s).Tangible collateral security of suitable value acceptable to bank.

Repayment

  • maximum upto 15 years

Prepayment Charges

  • Nil

Rate of Interest

ParameterRate of Interest Based on RLLR
Loan upto Rs.7.50 lakhs (covered under CGFSEL Scheme)RLLR + 2.00%
Loan upto Rs.7.50 lakhs sanctioned before 16.09.2015 (Not covered under CGFSEL Scheme & without collateral security).RLLR + 2.75%
Loan above Rs.7.50 lakhsRLLR + 2.75%
Loans irrespective of amount (where 100% tangible collateral security in the shape of IP, enforceable under SARFAESI Act, and/or liquid security is available)RLLR + 2.00%
Education Loan to children of PNB’s Employees where employee is either co-borrower or guarantor.RLLR + 0.25%

Processing Charges/ Upfront Fee

For Studies in India- NIL

For Studies abroad- 1% Minimum Rs.10000/- (Refundable after 1stDisbursement)

For PNB Pravasi Shiksha Loan: 1% of the loan amount, Minimum Rs.10,000/- (Non-refundable)

For PNB Kaushal – Nil

For Studies in India- NIL

For PNB Pravasi Shiksha Loan: Rs 450/-

For PNB Kaushal – Nil

For more details you can visit PNB official website to know all education loan scheme offered from them.

Check All Job Detail from Official website Before Apply for the Respective Job Post

-- Airline Training Opportunities For 12th/Diploma --

10वी/12वी, ग्रेजुएट के लिए बड़ी कंपनियों में भर्ती
Work From HomeReliance Jio Jobs
Big Bazaar JobsLIC Jobs
Ashok Leyland JobsMaruti Suzuki Recruitment
We are updating all sarkari & Government jobs here on Daily basis