Punjab National Bank presents Educational Loan
Students, who are keen to pursue superior education in India or abroad, be able to count on various types of education loans presented by the banks in India. They just need to gather complete information on the scheme of all these loans before approaching a bank by means of their requirement. Even Punjab National Bank proffer personalized educational loans for different kinds of academic programs. The scheme of Punjab National Bank Educational Loan is also known as Vidyalakshyapurti. It also contains insurance exposure for the borrowers of educational loans in teamwork with Kotak Mahindra Insurance.
Courses:
Punjab National Bank proffers educational loans for graduate and postgraduate programs. A student, who is pursuing a professional course or a vocational course from a documented body, university or nationally known institute be capable of apply for PNB educational loan the same as well.
Education Loans are also given for studying certificate or diploma programs.
Eligibility:
Punjab National Bank has laid down a set of eligibility decisive factor for sanctioning the education loans.
- A student, who is an Indian nationalized, can apply for the loan.
- A contender is well thought-out eligible for PNB educational loan, if he gets admitted to a specialized or vocational course through an assortment procedure or into an overseas institute.
- A student applying for a graduate program is able to get the loan if he obtain at least pass marks in the qualifying exam.
Expenses, engaged into account:
The education loan of Punjab National Bank wrap the college, school or else hostel fee and charge for purchasing books, instruments or uniform. It also contain exam, laboratory or library fee apart from money for buying computer, if necessary for pursuing the program. Your travel and lodging charge will also be enclosed by the loan. Even concern Deposit, refundable deposit or building fund and any other cost necessary for studying the program determination considered for loan.
Ceiling, Amount, Margin & Security of Loan
The amount of PNB Loan is authorized evaluating the require and the repaying ability of the parent or the student. as well, some ceilings plus limits are also applied by PNB.
- You be able to borrow a maximum of Rs 7.5 laces and Rs 15 laces intended for studying in India or abroad correspondingly.
- In addition, there is a margin of 5% if you borrow over Rs 4 laces for studying in India. The edge is 15% for studying abroad.
- A candidate needs to in attendance a 3rd party as assurance for borrowing above Rs 4 laces.
- If the amount is above Rs 7.5 laces, the bank enquires for a collateral refuge or guarantee of a 3rd party.
Mode of refund:
You can repay the principal sum and the interest in a time stage of 5 to 7 years later than you begin pay off. In case, a student fails to complete his study in the predetermined time period, he will be given an extended time of 2 years in maximum for carrying out the program.
In order to learn more concerning interest rates look through www.pnbindia.com/
