Documents Required for Education Loan in Punjab National Ban

I want to apply for educational loan in Punjab National Bank so can you please tell me the documents required to apply for this loan?

[Kiran Chandar]

Punjab National Bank is an Indian financial services company based in New Delhi, India. It was established in 1894. 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

It provide financial support to meritorious students for- pursuing higher education in India.

Documents Required for Education Loan

Loan application on Bank's format

Passport size photograph.

Proof of Address.

Proof of Age.

Copy of PAN of student Borrower.

Proof of having cleared last qualifying examination.

Letter of admission.

Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned

Details of Assets & Liabilities of parents/co-obligants/guarantors.

Photocopy of Passport & Visa in case of study abroad.

Any other document/information, depending upon the case and purpose of the loan

Documentation Charges

A. for studies in India, there is NIL processing fee, however, documentation charges of Rs.270/- for loans up to Rs. 4 lac and Rs.450/- above Rs.4.00 lac - exclusive of service tax and education cess are charged.

For Studies abroad: Upfront fee @ 1% with a minimum of Rs.10,000/- which is refundable on availment of the 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, 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