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Punjab National Bank Education Loan

Vidya Lakshyapurti Education Loan Scheme

  • Purpose

PNB’s Education Loan Scheme is designed to provide better educational opportunities to bright and needy students and brings within their reach all types of education (general,professional,technical and vocational courses).

The scheme enables all types of needy students (viz.students of plus 2 stage,graduation courses, post graduation courses, Masters & Ph.Ds, professional, technical , engineering, medical, veternary, law, dental, management, computer, vocational courses, courses like ICWA,CA,CFA, courses conducted by IIM,IIT,IISc,NIFT, courses offered in India by reputed foreign universities and all other types of courses offered by Govt./Semi-Govt/private institutions in order to meet the costs for their studies in India and abroad. Such courses would include regular, part time and correspondence courses. The costs include admission fees, books & stationery, instruments required for the course, monthly fees, examination fees,insurance premium for policy on life of the borrowing student,caution deposit/building fund/refundable deposit supported by bills/receipts, expenses like study tours/project work/thesis etc. required to complete the course, boarding and lodging expenses, and travel expenses/passage money including air fare for joining the course abroad.

  • Eligibility

1) Indian nationals, in the age group of 16-40 years.For part time computer courses, applicants in the age group of 16-45 years are eligible. Applicants whose guardians have been appointed by the court, should not be less than 21 years; such students should have already passed atleast one public examination.

2) Students who have scored pass marks in their last qualifying examination and have secured admission in the courses mentioned above.

3) The parents/guardian should have regular source of income to the extent that they are able to repay the loan in case of need/unforeseen circumstances.There is no stipulation of ceiling on annual income of the parents/guardians.

4) Employed persons intending to better their prospects can also avail loan for improving their educational qualifications and/or receive training in modern technology in India/ abroad provided the education/training received by them in India/abroad affords prospects for their better employment.For such persons, ‘NO OBJECTION CERTIFICATE’ from their employers is a pre-requisite.

  • Amount of Loan

This is co-related to expenses involved in taking up the course and the expected earnings after qualifying, subject to a maximum of:

For studies in India: Rs. 7.50 lacs

For studies abroad Rs.15.00 lacs

In case of part time computer courses, the extent of loan should not exceed Rs. 50,000/- per annum or fee fixed by the particular institutution (as per prospectus less concession,if any), whichever is less.


  • Rate of Interest

Loan upto Rs. 4 lac 12.00% p.a. *
Loan over Rs. 2 lac upto Rs. 15 lac 13.00% p.a. *
Loan over Rs. 15 lac 15% p.a.*
*This is subject to change from time to time.
The Interest shall be charged at simple rate from the date of disbursement till the commencement of repayment of loan and thereafter, compound Interest will be charged on reducing balance basis. 1/2% interest concession may be provided for the loanees if the interest is serviced during the study period.

  • Margin: NIL

  • Period of loan

Principal and Interest is repayable in 84 monthly instalments. Repayment will commence after two years of the completion of studies by the borrower or one month after his/her getting employment, whichever is earlier.


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