#1
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For PG studies from Abroad, my brother wants to take Education loan from Punjab National Bank, so tell me what is the required eligibility for loan & interest rate, please provide here???
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#2
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Punjab National Bank Education Loan scheme details are as given below; Education Loan Eligibility; The applicant should have following criteria; Should be an Indian national The applicant should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). Cases of Management Quota may be considered on merit basis 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% Documentation Charges Rs.270/- for loans upto Rs. 4 lac and Rs.450/- for loans above Rs.4.00 lac (exclusive of service tax and education cess) Subject to change from time to time Documents for education loan: A. (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. For more info here is attachment;
__________________ Answered By StudyChaCha Member |
#4
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Punjab National Bank is an Indian financial services company and it was founded in 1894 and the bank has over 6,300 branches and over 7,900 ATMs across 764 cities. 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. Here I am giving you information about PNB Saraswati…… Education Loan - PNB Saraswati Education loan scheme for students pursuing Higher Education in India; To provide financial support to meritorious students for pursuing higher Purpose: Fee payable to college/ school/ hostel Examination/ Library/ Laboratory fee. 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 Must be an Indian national Must have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). Cases of Management Quota may be considered on merit basis; 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 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. Repayment (Maximum) For loans upto Rs.7.50 lac - upto 10 years For loans above Rs.7.50 lac - upto 15 years
__________________ Answered By StudyChaCha Member |
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