Punjab National Bank Education Loan Interest

Please provide me the Punjab National Bank Education Loan Interest rates

The Punjab National Bank provides for Education Loan for following course:
ICWA,
CA,
CFA

Courses conducted by:
IIMs,
IITs,
IISc,
XLRI
NIFT,
NID
Regular Degree/Diploma courses like Aeronautical,
Pilot training,
Shipping,
Nursing etc
Those are approved by Director General of Civil Aviation/Shipping

Eligibility:
The applicant should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

Quantum of Finance

For studies in India: Maximum Rs.10.00 lacs.
For studies abroad: Maximum Rs.20.00 lacs.

Margin

Above Rs.4.00 lacs
Studies in India
5%

Studies Abroad
15%

Interest rates:



Contact:
Punjab National Bank
Kutchery Road Ajmer-0, Kutchery Road, Ajmer, Rajasthan 305001 ‎
0145 242 9696 ‎

Map:

I have a educational loan from punjab national bank , i want to know the full detail of interest rate on educational loan.i also want to know that how percent rate on the loan and what time period the interest is started on the loan.

My brother wants to take Education Loan from Punjab National Bank so firstly we want to know about its Interest Rate and some other information related to it?

Punjab National Bank serves over 80 million customers and it was founded in May 19, 1894, and it is an Indian financial services company.

Punjab National Bank offers 3 Education Loan Schemes namely:
PNB Saraswati: Regular Scheme for pursuing Higher studies in India & Abroad.

PNB Kaamgar: Education Loan Scheme for pursuing Vocational Courses/ Skill Development courses.

PNB Pratibha: Collateral free Education loans at lower ROI to those students getting admission in of 103 premier institutions in India, as identified by Bank.

Rate of Interest
Loan upto Rs 4 lac – Base Rate+2%
Loans above Rs 4 lac upto Rs 7.50 lac – Base Rate+3%
Loans above Rs 7.50 lac – Base Rate+2.50%
Base Rate+1% to be charged for all loans, irrespective of amount, where 100% tangible collateral security in the shape of IP, enforceable under SARFEASI act, and/or liquid security is available.
Simple interest be charged during the Repayment holiday/ Moratorium Period

Eligibility criteria for Education Loan
Applicants must be Indian national.

Student must haves obtained admission in eligible course through merit based selection process.
Where the admission is purely based on marks scored in qualifying examinations, cut off percentage of marks is fixed:
(i) 50% for SC/ST, and;
(ii) 60% for General category.

Documents required for Education Loan:
(i) Loan application on Bank's format.
(ii) Passport size photograph.
(iii) Proof of Address.
(iv) Proof of Age.
(v) Copy of PAN of student Borrower.
(vi) Proof of having cleared last qualifying examination.
(vii) Letter of admission.
(viii) Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned.
(ix) Details of Assets & Liabilities of parents/co-obligants/guarantors.
(x) In case loan is to be collaterally secured by mortgage of IP, copy of Title Deed, Valuation Certificate and Non-encumbrance Certificate from approved Lawyer of the Bank be obtained at the cost of the borrower.
(xi) Photocopy of Passport & Visa in case of study abroad.
(xii) Any other document/information, depending upon the case and purpose of the loan.

Margin
Up to Rs. 4 lac - NIL
Above Rs. 4 lac - 5%
Scholarship/ assistantship may be considered in margin.
Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

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Answered By StudyChaCha Member

I want admission in gulabrao Patil college miraj,then what is CET eligibility percent for admission from merit