Due to lack of money, Punjab National Bank is giving students who are not able to fulfill their career dreams. Students are also getting many types of discounts on these loans by PNB.
Punjab National Bank, the second largest government bank in the country, is helping to fulfill your career dream. Punjab National Bank is providing three types of education loans for the youth. For this loan, you have to fulfill certain conditions. After this, the whole process of taking a loan is very simple and easy. You can also apply online for PNB education loan sitting at home. Once you complete these important procedures, you will not have to worry about anything. Now, just by paying attention to your studies, you can fulfill the dream of the best job for yourself. Today we are giving you information about these loans of PNB.
PNB offers three types of education loans
Punjab National Bank runs three types of education loan schemes, namely ‘PNB Saraswati’, ‘PNB Pratibha’ and ‘PNB Kamgar’. PNB Saraswati is for higher education in India and abroad. Under PNB Pratibha, those students get loans, who study in selected 103 institutes of the country. These institutions are identified by PNB and the return on investment for this loan is very low. Whereas, under the PNB worker, those students who have minimum educational qualification for pursuing the course qualified by the institute / organization get loan. To take advantage of any of these loans, your citizenship must be Indian.
There is no age limit for loans
Under the PNB Saraswati scheme, students are required to be eligible for metric Aadhaar admission. The cutoff should be 50 percent for AC / ST students and 60 percent for general category. Students taking admission through Management Quot can also get loan under this scheme. No minimum or maximum age limit has been set by the bank for education loans. Students can apply for this loan to graduate, post graduate or PG diploma from any recognized college / university.
PNB will bear all the expenses
Under this loan, students are provided all the expenses which are necessary to complete their course. This includes expenses for books, equipment, computers, travel, study tours, boarding and lodging etc. You can get a maximum loan of Rs 10 lakh for studying in India and a maximum of Rs 20 lakh for studying abroad.
Under the PNB Kamgar Scheme, 20 thousand for 3 months course, 50 thousand for 3 to 6 months course, 75 thousand for 6 months to 1 year course and Rs 1.5 lakh loan for more than 1 year course. Can be taken as
How much interest will have to be paid and how much discount will be available for students?
General interest is taken during the Moratorium. If interest is serviced during the moratorium and timely installments are deposited then there is a rebate of 1 per cent on the return of investment. There is an additional rebate of 0.5 per cent for women beneficiaries. Under the PNB score, students get a further discount of 50 basis points if they score 80 or more.
How many days will have to be repaired?
Under PNB Saraswati, the repayment period of loans up to Rs 7.5 lakh will be of 10 years. However, the repayment period for loans beyond this will be 15 years. Under the worker scheme, the repair period for courses up to 1 year will be 2 to 5 years and for courses of more than 1 year, the repair period will be 3 to 7 years.
How much will the processing charge have to pay?
No processing charge has to be paid for studying in India. However, a loan up to Rs 4 lakh incurs a documentation charge of Rs 270. However, for a loan of more than 4 lakh rupees, it will cost 450 rupees as documentation charge. GST payable on this will also be levied. For studying abroad, 1 percent of the loan amount will have to be given as processing charge. This amount should not be less than Rs 10,000. It will be refundable after getting loan.
Which documents will be needed?
- Passport size photo
- Address proof
- Age proof
- PAN number
- Proof to pass the last qualifying exam
- Admission letter
- Course Prospectus (It should contain information about admission fees, exam fees, hostel charges etc.)
- Parent or Guardian’s liabilities information
- Photocopy of passport and visa for study abroad
