PNB Student Loan

Hello sir I am the student and want to apply for the PNB SARASWATI Education loan scheme of the Punjab National Bank for my higher studies so please tell me the eligibility required to apply for this?

Punjab National Bank provides the PNB SARASWATI Education loan scheme to the students for the higher studies

Here are the complete details of it

Eligibility Required:
Candidate should be an Indian national

Must have secured admission to a higher education course in recognized institutions in India after completing 12th 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

PNB SARASWATI Education loan scheme

I want to take educational loan from Punjab National Bank so would you please give me some information about educational loan like eligibility and other?

Punjab National Bank was founded in May 19, 1894, it has over 6,300 branches and over 7,900 ATMs across 764 cities and it is an Indian financial services company based in New Delhi, India.

Punjab National Bank provide three

Education Loan Schemes;
PNB Saraswati
PNB Kaamgar
PNB Pratibha

Eligibility:
Applicants must be an Indian national.

Applicants 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).

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.

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,

Documentation Charges:
Rs.270/- for loans upto Rs. 4 lac and Rs.450/- for loans above Rs.4.00 lac.

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

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.

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Answered By StudyChaCha Member

I want to take Education Loan from Punjab National Bank so I want to know about it so would you please give me some information about it? Like Interest rate and eligibility….

Punjab National Bank was founded in May 19, 1894, it is an Indian financial services company based in New Delhi, India and the bank has over 6,300 branches and over 7,900 ATMs across 764 cities.

Education loan scheme for students pursuing Higher Education in India.
To provide financial support to meritorious students for pursuing higher education in India.

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;

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.

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.

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

Docs Required for Education Loan:
ID Proof
Address Proof
DOB Proof
Financial Docs

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Answered By StudyChaCha Member

I have completed 12th class now I am doing engineering for this I want to take Educational Loan from Punjab National Bank so would you please give me some information about Punjab National Bank Educational Loan?

Punjab National Bank was founded in 19 May 1895 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore and it is an Indian financial services company.

Hello Friend, let me tell you that Punjab National Bank offer 3 Education Loan Schemes:

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 givng you information about PNB Saraswati- Education Loan Scheme

This Education Loan Scheme provides financial support to meritorious students for pursuing higher education in India and abroad.

Eligibility for PNB Saraswati- Education Loan:
Student must have 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.

Student should be an Indian national.

Age limit:
No limit

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.

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

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Answered By StudyChaCha Member