Punjab National Bank Education Loan

Punjab National Bank Education Loan (EDUCATION LOAN - "VIDYALAKSHYAPURTI")
Punjab National Bank Education Loan
Website: www.pnbindia.com

EDUCATION LOAN - "VIDYALAKSHYAPURTI"

Courses:
The Scheme enables all type of needy students viz., students of +2 stage, Graduation courses – B.A., B.Com., B.Sc., etc., Post-Graduation courses, Masters in Ph.D; Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc., Computer Certificate courses of reputed Institutes accredited to Department of Electronics or institutes affiliated to University; Courses like ICWA, C.A., CFA, etc., courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc., Evening Courses of reputed Institutes; Diploma/Degree courses conducted by Colleges/Universities approved by UGC/Govt./AICTE/AIBMS/ICMR, etc., Courses offered by National Institutes and other reputed Private Institutes.

Student eligibility
(1) Should be an Indian National.
(2) Secured admission to Professional / Technical courses through Entrance Test / Selection process.
(3)Secured admission to foreign University / Institutions.
(4)Student should have secured pass marks in the qualifying Examination for admission to Graduation Courses.

Expenses considered for Loan
(1) Fee payable to College / School / Hostel
(2) Examination / Library / Laboratory fee.
(3) Purchase of books / equipments / instruments / uniforms.Secured admission to foreign University / Institutions.
(4) Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts.
(5) Travel Expenses / Passage money for studies abroad.
(6) Purchase of computers - essential for completion of the Course.
(7) Boarding and lodging expenses in recognised Boarding Houses / private accomondations
(8) Any other expense required to complete the course - like study tours, project work, thesis, etc.

Quantum of Finance

Need based finance, subject to repaying capacity of the parents / students with margin and the following ceilings :-
For studies in India: Maximum Rs.7.50 lacs.
For studies abroad: Maximum Rs.15.00 lacs.

Margin
Upto Rs.4.00 lacs: - Nil.
Above Rs.4.00 lacs:
Studies in India 5%
Studies Abroad 15%

Security:
Upto Rs.4.00 lacs: No Security.
Above Rs4 lacs and Upto Rs 7.5 lacs: 3rd party guarantee acceptable to the Bank.
Above Rs 7.5 lacs: Collateral Security of Suitable value or suitable 3rd party guarantee.
Important
The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares / Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.
The document should be executed by both the student and the parent/guardian.

Rate of Interest

upto Rs. 4 lacs BPLR+TERM PREMIA minus 1.25
Above Rs.4 lacs BPLR + TERM PREMIA+1%

Repayment Holiday / Moratorium
Coursee period + 1 year OR 6 months after getting job, whichever is earlier.

For More details Please Visit: www.pnbindia.com/c_vidya.htm

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