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Old 16th April 2016, 09:28 AM
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Join Date: May 2012
Default Re: Punjab National Bank Education Loan

the details of the Punjab national bank Education loan is given below :

the education laloan is granted by the Punjab national bank to provide financial support to meritorious students for pursuing higher education in India.

Eligibility Criteria :

Should be an Indian national.
Should have 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).
Cases of Management Quota may be considered on merit basis;

margins :

Up to Rs. 4 lac - NIL
Above Rs. 4 lac - 5%

Interest rates :

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%

Expenses include :

Fee payable to college/ school/ hostel
Examination/ Library/ Laboratory fee.
Insurance premium for student borrower, if applicable.
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.

Security :

Up to Rs. 4 lac: Parent(s)/guardian as a joint borrower(s).
Above Rs. 4 lac and upto Rs. 7.50 lac: Besides the parent(s)/ guardian executing the documents as joint borrower(s), collateral security in the form of suitable third party guarantee.

for more details you may visit the nearest branch of the Punjab national bank
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