Loan PNB

My father wants to take Education Loan from Punjab National Bank, so tell me what is the PNB Educational loan eligibility criteria, margin, interest rate, will you please provide here???

Punjab National Bank Education Loan details are as given below:

Education Loan

Eligibility;

The applicant should have following criteria:

Should be an Indian national

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).

Margin
Up to Rs. 4 lac - NIL
Above Rs. 4 lac - 5%

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

Repayment (Maximum)
For loans upto Rs.7.50 lac - upto 10 years
For loans above Rs.7.50 lac - upto 15 years

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

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Answered By StudyChaCha Member