Punjab National Bank Education Loan or ?idyalakshyapurtiLoan is a blessing for all those who would like to pursue their dreams of higher studies in India or abroad. The loan helps in facing any obstacles in pursuing higher studies by providing financial assistance. Punjab National Bank Education Loan is available through the banks hassle free procedure and easy documentation process. The loan is available for numerous courses and provides assistance to all those who have not been able to qualify for a full time scholarship program due to scores.

Punjab National Bank Education Loan Interest Rate:

The Punjab National Bank Education Loan interest rate is at par with competitors and attractive loan benefits by the bank makes it the best option available for students who want to study in India and abroad.

Punjab National Bank Education Loan rate is based on BPLR which is subject to change. Most students looking for Bank finance for higher education find Punjab National Bank Education Loan interest rate competitive and affordable for repayment.

For students willing to pay back in a period of 3 years the interest rate is BPLR 0.50% for loan upto Rs. 4 lacs

For students willing to pay back in a period of more than 3 years the interest rate is BPLR + 0.25% for loan more than Rs. 4 lacs.

Punjab National Bank Education Loan Eligibility And Expenses Covered:

Punjab National Bank Education Loan can be availed by any resident Indian. The loan can be availed for any graduation and post graduation courses. All Recognized Courses like:

B.A., B.Sc, B.Com, Master & P.hd

• ·ICWA
• ·CA, CFA
• ·IIM
• ·IIT, XLRI, NIFT, IISc

Loan is also offered for courses by UGC/Govt./AICTE/ICMR programs that qualify for Punjab National Bank Education Loan eligibility.

The loan applicant has to pay margin money ranging from 5-15 % of the total loan amount applied for courses in India & Abroad.

Other Qualifications For Punjab National Bank Education Loan Eligibility Are:

• ·For Punjab National Bank Education Loan eligibility the candidate should be a Resident Indian.
• ·Admission to technical courses in India is possible through Punjab National Bank Education Loan eligibility.
• ·A co-applicant is required for full time courses.
• ·The maximum loan for studies in India is at the maximum is Rs.10 lacs
• ·The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The expenses covered under the Punjab National Bank Education Loan interest rate is

• ·College Fee
• ·Hostel and Library charges
• ·Caution deposit (not to exceed 10% of total tuition fee)
• ·Money to go abroad
• ·Money for Study tours, Project work, Computer etc.

Punjab National Bank Education Loan Review And Documentation:

According to the Punjab National Bank Education Loan review the student would need to provide the following documents for the processing of the loan apart from Proof of Age, Signature, Identity and Residence:

• ·Fully completed loan application form along with Institutes Admission letter with Fee Break up.
• ·Two Photographs

Punjab National Bank Education Loan Review And Documentation For The Salaried Co- Borrower:

• ·Bank Statement for last 6 months.
• ·Income Tax Statement for the last two years
• ·A brief about the asset and liabilities possessed by the borrower
• ·Latest 2 Salary slips

Punjab National Bank Education Loan Review And Documentation For The Self Employed Individual:

• ·Bank Statement
• ·Income Tax Return
• ·Profit and Loss Account or Balance Sheet of the Company
• ·Proof of Qualification.

Punjab National Bank Education Loan Review And Application Procedure:

Punjab National Bank Education Loan application forms are available at all bank branches across India. The filled up forms can be then submitted along with the loan application at the branch. The loan will be disbursed in installments to the college or institute directly.

Punjab National Bank Education Loan Rate Repayment Option And Pre Closure Process:

The Punjab National Bank Education Loan rate needs to be paid back in maximum 5 to 7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. Check with your nearest branch for pre closure charges or late fee charges.

Punjab National Bank Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on Punjab National Bank Education Loan eligibility and Punjab National Bank Education Loan Rate etc. are on the official site

At https://www.pnbindia.in/En/ui/EducationLoanScheme.aspx