Punjab National Bank Education Loan Scheme for study in india and abroad

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Punjab National Bank Education Loan Scheme Punjab National Bank is offering the personalized educational loans of different kinds related to academic programs. This scheme in Punjab National Bank (PNB) Educational Loan is well known as Vidyalakshyapurti. It includes coverage of insurance to the borrowers of educational loans in collaboration to Kotak Mahindra Insurance.

  • Should be nationality ofIndia.
  • Should Secured admission in Professional or Technical courses inIndiaor in abroad by Entrance Test /or through Merit based Selection process.

Courses Eligibility
The Scheme mainly aims to provide financial assistance for deserved merit students who pursue their higher education in India or in abroad. viz., Graduation courses like B.A., B.Com., B.Sc., etc., Post-Graduation courses that are Masters & Ph.D; Professional courses such as Agriculture, Veterinary, Law, Dental, Engineering, Medical, Management, Computer etc., Computer Certificated courses from reputed Institutes which are accredited to the Department of Electronics or to the institutes affiliated to University; Courses like ICWA, C.A., CFA, etc., courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc., Regular Diploma/Degree courses conducted by Colleges/Universities approved by UGC/Govt./AICTE/AIBMS/ICMR, Regular Degree / Diploma courses in Aeronautical, Pilot training, Shipping etc. that are approved by DGCA/ etc., Courses which are offered by National Institutes and other reputed Private Institutes

Maximum Amount of Loan

  • Studies inIndia: Maximum Rs. 10.00 Lac
  • Studies Abroad : Maximum Rs. 20.00 Lac.

Expenses Covered by the Loan

  • Fee payable to college / school/ hostel
  • Any other expense required to complete the course – like study tours, project work, thesis
  • Insurance premium for student borrower
  • Examination / Library / Laboratory fee
  • Purchase of books / equipments / instruments / uniforms
  • Caution deposit / building fund / refundable deposit supported by Institution bills / receipts
  • Travel expenses / passage money for studies abroad
  • Purchase of computers that is essential to complete the course etc.


  • Upto Rs.4.00 lacs of loan: Co-Obligation of Parents. No Security.
  • Above Rs 4.00 lacs and Upto Rs 7.5 lacs of loan Co-Obligation of Parents and 3rd party guarantee will be acceptable in the Bank.
  • Above Rs 7.5 lacs Collateral Security of suitable value and Co-Obligation of Parents along with Assignment of future income for the student to pay the installments.

Rate of Interest

  • Upto Rs.4 lacs : BPLR – 1.00% = 11.50% p.a.
  • Above Rs.4 lacs : BPLR – 0.50% = 12.00% p.a.

Repayment of Holiday or Moratorium Course period + 1 year OR 6 months after getting job (whichever is earlier).

The Principal and the accrued interest to be paid within maximum of 5 to7 years after commencement of repayment. If the student who is not able to complete the course in the stipulated time that extension of time for course completion may be permitted within a maximum period of 2 years.

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