Here’s a concise overview of the PNB Education Loan Programme, including its eligibility criteria and application process:
Overview of PNB Education Loan Programme
Punjab National Bank (PNB) offers a range of education loan schemes to support students in pursuing higher education in India and abroad. These loans aim to cover tuition fees, living expenses, exam fees, travel costs, and other related expenditures.
Key Highlights:
- Loans for both domestic and international studies.
- Flexible repayment options with moratorium periods.
- Competitive interest rates, with concessions for female students and specific categories.
- Coverage of technical, professional, and skill-development courses.
Eligibility Criteria
- Applicant Criteria:
- Must be an Indian national.
- Should have secured admission to a recognized institution in India or abroad through entrance exams or merit-based selection.
- Courses Covered:
- Graduate, postgraduate, diploma, and professional courses.
- Technical and vocational training programs.
- Specialized courses such as pilot training, shipping, etc., approved by competent authorities.
- Co-Applicant:
- A parent, guardian, spouse, or other relative may act as a co-borrower.
- A co-applicant is mandatory for most loans.
- Institutions Covered:
- Recognized universities, colleges, and institutes.
- Globally recognized institutions for studies abroad.
- Collateral Requirements:
- Collateral may be required depending on the loan amount.
- Loans up to ₹4 lakhs typically do not require collateral.
How to Apply
- Online Application:
- Visit the official PNB website or the Vidya Lakshmi Portal.
- Fill out the education loan application form and upload required documents.
- Submit the form and track the application online.
- Offline Application:
- Visit the nearest PNB branch.
- Collect the application form for an education loan.
- Submit the completed form along with necessary documents.
- Documents Required:
- Admission proof (admission letter or confirmation from the institute).
- Mark sheets and certificates of qualifying examinations.
- Fee structure of the course.
- Identity proof (Aadhaar, PAN, passport).
- Address proof.
- Income proof of co-borrower.
- Collateral documents (if applicable).
- Loan Processing:
- The bank reviews the application and supporting documents.
- Loan sanctioning may involve personal interviews or discussions with applicants and co-applicants.
- Disbursement:
- Funds are directly disbursed to the institution or vendor as per requirements.
Important Links
| Official Website | Click Here |
| Homepage | Click Here |
Let me know if you’d like detailed guidance on a specific education loan scheme or assistance with documentation!