Eligible students must secure admission in institutes as under:
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- Approved courses leading to Graduate/Post Graduate degree and PG Diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
- Courses like ICWA, CA, CFA etc. Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
- Regular Degree/Diploma courses like Aeronautical, pilot training, shipping Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing Council or any other regulatory body as the case may be.
- Approved courses offered in India by reputed foreign universities.
- Courses as defined under various Government Subsidy Schemes.
- Applicants must be resident Indians.
- Applicants must have secured admission to a higher education course in recognized institutions in India through an entrance test/merit-based selection process after completion of HSC (10 plus 2 or equivalent).
Loans up to and above INR 7.5 lakh
Note:
- For loans up to INR 7.5 lakh, the interest rate is 10.8%, and for loans above INR 7.5 lakh, the interest rate is 11.45%.
- The education loan includes fee payable to college/ school/ hostel, examination/library/laboratory fee, the 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 a reasonable cost if required for completion of the course, or any other expense required to complete the course – like study tours, project work, thesis, etc.
- Loan application with passport-size photograph of applicant(s) and guarantors
- Proof of age, residence proof, PAN no. of all the Applicant(s) and Guarantors
- Proof of having passed the last qualifying examination.
- Photocopy of Passport and visa in case of study abroad.
- Letter of admission in professional, technical, or vocational courses.
- Prospectus of the course depicting Admission, Exam. Fee, Hostel Charges, etc.
- Documentary Evidence of the Assets and Liabilities of the Applicant(s) and Guarantors
- In case, the loan is to be collaterally secured by mortgage of IP, Property Papers for Valuation
- NEC from approved valuer/Lawyer of the Bank at the cost of the Borrower.
- Any other document/ information, depending upon the case and purpose of the loan.
- Bank statements of salary/Income account for the last 12 months in case the account is in another Bank
- Click on the ‘Apply Now’ button below.
- You will now be redirected to the PNB Education Loan Program‘ application form page.
- Click on the ‘Start Application’ button to begin the application process.
- Fill in the required details in the online application form.
- Upload the required documents.
- Accept the ‘Terms and Conditions’ and click on ‘Preview.’
- Review the preview screen to ensure that all the filled-in details are correct.
- If all the details appear correctly on the preview screen, click on the ‘Submit’ button to complete the application process.