School Loans For Living Expenses

Is the living expenses included in amount of education loan offered by the Punjab National Bank (PNB) ? also tell about the rate of interest for the PNB education loan ?

[Kiran Chandar]

Hey , living expenses are included in amount of education loan offered by the Punjab National Bank (PNB).

PNB education loan offered to :

Fee payable to
College/
School/
Hostel

Examination/
Library/
Laboratory fee.

Insurance premium for student borrower.

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.

PNB education loan :
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.

Eligibility
Indian national.

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).