Established in 1894, Punjab National Bank (PNB) is one of India’s largest public sector banks in terms of assets, deposits, branches, customers, and employees. PNB offers PNB education loan for India as well as Punjab National Bank education loan for study abroad to eligible students who wish to pursue higher education in India or abroad. So, if you are planning to take a Punjab National Bank education loan abroad, the process is very simple, however, it is very important to understand eligibility criteria, documents required and other important information.

Types of Education Loans in Punjab National Bank

The Punjab National Bank education loan is categorized into several schemes that cater to the varied needs of students. Punjab National Bank education loan schemes are as follows:

• 
  PNB Saraswati Education Loan Scheme
• 
  PNB Udaan Education Loan Scheme
• 
  PNB Kaushal Education Loan Scheme
• 
  PNB Pratibha Education Loan Scheme
• 
  PNB Honhaar Education Loan Scheme

For students who are looking for an abroad education loan or for PNB education loan without collateral, the PNB Udaan Scheme offers financing options for their education abroad, with attractive terms and competitive rates. PNB education loan interest rate are low and that is why PNB education loan is one of the most popular education loan for student.

Overview of PNB Udaan Education Loan – For Abroad Studies

If you are planning to study outside India, Punjab National Bank provides education loan under Udaan scheme, where in you can get education loan PNB up to INR 7.5 Lakh without collateral. However, if your Punjab National Bank student loan amount for abroad exceeds INR 7.5 Lakh, collateral is mandatory.

Please note that with Punjab National Bank abroad education loan, applicants can opt for a PNB non-collateral education loan with a co-applicant, who can be a parent or a guardian, and must cosign the loan, which means that they have the responsibility for repayment if the student fails to repay the loan. PNB also provides an education loan without a co-applicant, but this is applicable only for collateral-based loans, where a financial co-applicant is not required. PNB education loan interest rate are also very competitive.

Overview of Various PNB education loan without collateral and Punjab National Bank abroad education loan:

Please note that the terms and conditions, PNB education loan interest rate etc. may vary depending on the bank’s policies etc. To stay updated you can either contact the bank directly or you can contact us and we will share the relevant and updated information with you. You can contact us for PNB education loan online apply.

PNB Education Loans for Study in India

For higher studies in India, PNB offers two education loans, namely PNB Pratibha and PNB Saraswati. Let us understand the various features of these two education loans from PNB for study in India.

• 
  PNB Saraswati: This is the regular education loan scheme from PNB for pursuing higher studies in India.

• 
  PNB Pratibha: This is a collateral-free education loan from PNB at a lower rate of interest. However, this is offered to those students who secure admission in 103 premier institutes of India, as identified by the bank.

Eligibility Criteria for PNB Education Loan for Study in India:

The following are the eligibility criteria for PNB education loans for study in India:

• 
  Student should be Indian national.
• 
  For PNB Saraswati, students should have obtained admission in eligible courses through a merit-based selection process only. Management quotas are considered for meritorious students.

Expenses Covered under PNB Education Loan for Study in India:

Under these schemes, tuition fees, and expenses related to the purchase of books, equipment, computer, travelling, study tours, boarding, and lodging.

Margin Money Requirement for PNB Education Loan for Study in India:

• 
  Up to Rs. 4 Lacs: Nil
• 
  Above Rs. 4 Lacs: 5%

Application Process of PNB Abroad Education

Step 1 – If you are planning to take an education loan from PNB, then first you need to visit the PNB website for PNB education loan form.

Step 2 – Navigate to the loan section and click “Apply”.

Step 3 – You will be taken to the “PNB WeblenS-Online loan application” page.

Step 4 – Click on the “Retail Loan” category.

Step 5 – After that click on the “Education Loan” category.

Step 6 – Now, the loan application will open and you have to fill it out accurately. Submit the application. PNB will verify the details and coordinate with you regarding the next steps.

The PNB education loan without collateral is a very good option for students who want to study abroad. PNB education loan interest rate is also very competitive and with comprehensive coverage of educational expenses, the loan makes overseas education accessible for many.

The PNB student education loan application process is quite simple.

PNB Udaan Education Loan Scheme

The PNB Udaan Scheme offers secured education loans to students planning to pursue higher education abroad. Students can avail of loans up to INR 1 Cr under this scheme. To secure the loan, students must pledge collateral with a value of at least 100% of the loan amount.

Let us understand this with an example, if a student needs a loan of INR 40 Lakh, their collateral value must also be INR 40 Lakh or more. With a competitive PNB education loan interest rate, this loan scheme also covers many academic courses and countries that give considerable financial aid to students.

Overview of the PNB Udaan Education Loan

Let us understand the key features of PNB Udaan education loan by the table below:

*Moratorium period is the time during which you are not required to make any payments for your education loan.

*Margin money means the amount that a borrower has to pay, it is a fraction of the loan amount, while the remaining amount is paid by the bank (or NBFC)

PNB Udaan Education Loan Eligibility Criteria

To secure a PNB student loan, applicants must meet the following criteria:

• 
  Age and citizenship: Minimum 18 years old and an Indian citizen.

• 
  Education qualification: Admission letter from a recognized university/institution in India or abroad.

• 
  Academic excellence: Applicants must have a good academic record and fulfil other exams like GRE, TOEFL, or IELTS if required.

• 
  Co-applicant: For non-collateral loans, a parent or guardian with a stable income and good credit score is mandatory as a co-applicant.

• 
  Course and country of study: PNB supports various courses and countries, including the USA, UK, Canada, Australia, New Zealand, and Europe.

• 
  Collateral: PNB accepts residential property, fixed deposits, and other tangible assets as collateral.

Documents Required for PNB Udaan Education Loan

PNB education loan documents required are as follows. Please note that apart from these documents, several other documents for Punjab National Bank education loan without collateral may be required which will be communicated to you at the time of application.

PNB Education Loan Documents Required for Applicant:

• 
  Identity proof: PAN/Passport/Driver’s License/Voter ID
• 
  Academic records: 10th, 12th mark sheets, degree certificates
• 
  Proof of admission
• 
  Statement of expenses
• 
  Two passport-sized photographs

Co-applicants Documents:

• 
  Identity proof: PAN/Passport/Driver’s License/Voter ID
• 
  Income proof: Salary slips, Form 16, or IT returns
• 
  Bank account statement for the last six months

Collateral Documents (for Secured Loan):

• 
  Property ownership documents
• 
  Approved plan of the property
• 
  Chain of ownership (last 30 years)

How to Contact PNB for Education Loans

You can contact PNB for an abroad education loan or Punjab National Bank education loan without collateral by the following methods:

• 
  Email: Contact customer support at care@pnb.co.in with your queries.

• 
  Online Application: Visit the PNB website to apply for an education loan directly.

• 
  Branch Visit: Visit any of PNB’s 10,000+ branches across India for assistance.

Applying for a Punjab National Bank education loan abroad may be time-consuming, but if you want a hassle-free way with minimal issues due to paperwork, multiple visits to the bank, and other kinds of delays, then we recommend you to apply for your education loan through GyanDhan where we have made the entire process streamlined from the application to approval. One of our education loan counselors will be assigned to your application and will make sure that it gets processed at the earliest. For the Punjab National Bank education loan calculator, you can accurately calculate your loan EMI here.

Benefits of Getting a PNB Education Loan through GyanDhan

• 
  Best loan as per your requirement: With GyanDhan, you do not have to worry about losing out on the best deals, as we are committed to providing you with the best education loan specifically as per your requirements.

• 
  Quick Process: We, at GyanDhan, have dedicated officials who coordinate with PNB bank officials at various posts and departments to secure your education loan approval in just 15-20 days or even less, which otherwise would have taken around 45 days had you gone to PNB branch for direct approval.

• 
  Safe and secured: This is the reason why thousands of students trust us with their education loans every year. officials coordinate with various departments within PNB to secure a loan approval in just 15-20 days. This is why 1000s of students trust us with their loan requests every year. If a student applies directly to the bank, the usual SBI loan processing time is around 30-45 days.

• 
  Doorstep documents pickup service: PNB education loan for abroad, GyanDhan provides doorstep pickup service of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Chennai & Kolkata.

• 
  Zero Service Charges: GyanDhan’s services are free, as we do not charge any kind of processing fees or commissions from the applicants at all.

• 
  Significantly higher chances of approval: With GyanDhan, the approval chances are considerably higher as we check for any missing documents, property issues, or other issues that can delay or cancel your education loan approval. We approach PNB officials in case of an issue. This ensures speedy resolution and significantly increases your odds of approval. Please be rest assured, that in case of any bottlenecks, GyanDhan will always be by your side!

Opting for a PNB education loan ensures financial backing from a trusted institution. With flexible terms and competitive rates, students can focus on achieving their academic goals without financial worries. For education loan interest rate PNB and other banks, you can visit our website page for complete information.

How to Apply for an Education Loan from PNB through GyanDhan

Applying through GyanDhan is very simple and convenient. All you need to do is check your loan eligibility and we will do the rest. We have expert counselors who analyze your loan application and recommend the best lenders. With GyanDhan’s expertise, it will be very easy to navigate PNB education loans for abroad studies effortlessly. Applying for a Punjab National Bank education loan abroad is very simple and studying abroad becomes a seamless journey, ensuring your dreams are just a loan away. Apply online through Gyandhan now.
For more information on PNB education loan and PNB education loan interest rates, you can visit our website.

Overview of ICICI Bank

Founded in 1994, ICICI Bank is a leading private-sector bank in India. Whatever your reason for higher studies, ICICI Bank understands that higher education is often very expensive, with the rising cost of education. But that shouldn’t stop you!

GyanDhan has partnered with ICICI Bank with an aim to provide financial support for aspiring students, pursuing higher education overseas. ICICI Bank, understands your career aspirations and offers the needed student loans, to successfully aid your journey to higher education. Getting an Education Loan through ICICI Bank is an easy and simple process.

Based on the target university and selected course, ICICI Bank provides both collateral and collateral-free loan of up to Rs.1.5 cr. tax saving on interest paid under section 80(E), flexible tenure and repayment options, and competitive interest rates, these loans help students realize their dream of attaining a world-class education in premier institutions abroad. The ICICI education loan without collateral is based on whether your institute is in Premier university list or not.

Overview and Features of ICICI Education Loan Scheme For Abroad

*ICICI Bank education loan interest rate as of March 2024

Note:If the overall profile of the applicant & co-applicant is good like high CIBIL, academics percentage, and more then a full moratorium can be offered in this case i.e. no repayment during the course and grace period.

ICICI Education Loan Eligibility For Abroad

There are a few eligibility criteria for ICICI Bank that you must fulfill to ensure that you can get approval for your abroad education loan. The eligibility requirements are –

• Must be an Indian citizen.
• The target university or college to which you are admitted must be from the list approved by ICICI Bank.
• The co-applicant must be one of these only – Father, Mother, Brother, Sister, Spouse (Husband/Wife), and Maternal/Paternal Uncle.
• Applicant’s age must be between 16 – 35 years.

Work Experience-Based Education Loan ICICI Bank

Apart from providing normal abroad education loans, there is a unique product that is only provided by ICICI Bank. This product is best for those individuals that have work experience and after working for several years want to go abroad to pursue higher education. A few of the aspects of this experience-based product by ICICI Bank are –

• This is best for those individuals that have a minimum of 3 years or more of professional experience.
• You do not need a co-applicant for this loan product.
• You should have a minimum salary of 35,000 INR but this will differ as per the loan amount required.
• This scheme is only applicable to those universities/colleges that fall in either A1 or A2 category of the approved institute list by ICICI Bank.
• You do not have to pay any amount during your moratorium period although you need to make it as FD as a security. The main benefit of this is that you will get regular interest on the same and you will get the locked amount in FD after the repayment period.

Note:Applicant needs to make a Fixed Deposit (FD) of an amount equivalent to the simple interest to be paid during the moratorium period with the ICICI Bank as security.

Calculate your EMI with ICICI Education Loan Calculator.

Expenses Covered by ICICI Bank Education Loan Scheme

ICICI education loan covers lot of expenses that are required in order to pursue your abroad education. These expenses are –

• Tuition Fees: Costs associated with course fees at the educational institution.
• Accommodation: Expenses for on-campus or off-campus housing.
• Travel Expenses: Costs for travel, particularly for international studies.
• Examination and Library Fees: Charges for exams, library, and laboratory use.
• Purchase of Books and Equipment: Expenses for textbooks, study materials, and equipment like laptops.
• Project Work and Study Tours: Costs for project work, study tours, and related travel.
• Insurance Premium: Premium for student insurance, if applicable.
• Other Education-related Expenses: Any other costs essential for the completion of the course, such as thesis work, additional classes, or seminars.

Documents Required for ICICI Abroad Education Loan

The mandatory documents that you would need to start your process of abroad education loan with ICICI Bank.

• Copy of exam mark sheets of 10th/12th or latest education certificate
• Admission letter with the cost of education if available
• Aadhaar Card and Pan Card of the student and Parent/Guardian
• Passport
• The electricity bill for residence proof
• Relationship proof for your co-applicant
• Most recent salary slips and Form 16 of the co-applicant (if salaried)
• Updated ITR of 2 years or IT assessment order of the last 2 years of the co-applicant (if self-employed)
• Proof of margin money (wherever applicable)

Benefits of Getting your ICICI Education Loan Through GyanDhan

There are some additional benefits that you can get if you pursue your ICICI education loan for abroad studies from GyanDhan. These benefits include:

Guaranteed best loan:

GyanDhan ensures that you receive the most competitive education loan available. Our commitment is to provide you with the best possible deal. If you happen to discover a superior offer, we will compensate for the variance in interest rates throughout the entire duration of your education loan.

Customized document checklist:

There are many documents that are required by ICICI, thus with GyanDhan, you will be getting a customized document checklist that will have all the required documents as per your profile. If there are any alternate document options available the same would also be mentioned in the checklist.

Low turnaround time:

With the help of GyanDhan the loan process can be completed in 5 – 7 days while if you go directly to the ICICI Bank then it might take upto 10 days as per their standard operating procedures.

100% Free of cost assistance:

When you check your eligibility and proceed with your loan with GyanDhan then you will be connected with an education loan expert that will help you throughout the process without any additional cost.

Full moratorium offered:

GyanDhan may help you to get a full moratorium only if the overall profile of the applicant & co-applicant is good like it has high CIBIL, academics percentage, and more.

If you are looking to secure an abroad education loan from ICICI, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through GyanDhan.

GyanDhan is an online platform designed to assist Indian students in financing their education abroad. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!

Established in 1993 as UTI Bank, Axis Bank provides education loans to students who want to study in India or abroad. Axis Bank is the third-largest commercial private bank in India. Axis Bank provides both secured and unsecured abroad education loans. In the case of an education loan abroad without collateral, the amount can go up to INR 1 crore, while in the case of a secured education loan, the amount can go up to 85% of the collateral pledged.

Based on the target university, Axis Bank has divided the educational institutions into three categories:

• 
  Prime A: This list contains mostly Master’s programs from top universities.

• 
  Prime B: Besides Master’s programs, it includes a few bachelor’s degrees as well.

• 
  Non-prime: Courses and institutes that do not form a part of the Prime A & B lists are included in this category.

Axis education loan does not just help students to realize the financial requirements of studying abroad but also offers a 100% tax benefit to them on the interest paid under Section 80(E) of the IT Act. Other than these features, as a scheduled commercial bank, government schemes such as Central Government Interest Subsidy Scheme (CSIS) for Economically Weaker sections (income up to INR 4.5 Lakhs) are available at Axis Bank.

Features of Getting an Unsecured Axis Bank Education Loan Abroad

There are many benefits that you are going to enjoy if you pursue your education loan abroad without collateral from Axis Bank. Axis Bank is one of the best options if you do not have collateral to pledge and want to take an unsecured education loan. Axis Bank has approved a list of abroad universities that they have divided based on STEM and non-STEM courses that categorize the universities into prime and non-prime categories. The features presented below differ for each of these categories.

Eligibility for Unsecured Axis Bank education loan abroad

Below are some criteria that you need to ensure so that you can be eligible for taking an Axis Bank study loan

• 
  The applicant and co-applicant have to be Indian citizens.
• 
  Must have secured at least 60% in Higher Secondary and Graduation.
• 
  Co-applicant’s CIBIL score should be more than 700.
• 
  Co-applicant’s salary should be more than INR 35,000 without any obligations i.e. the co-applicant should not have any other EMI going on. Co-applicant must have either 3 years of ITR or 2 years of Form-16.
• 
  Co-applicant needs to be from the immediate family. Accepted Co-applicant include Father, Mother, Brother, Sister, or Spouse.
• 
  Only applicable to master’s courses.
• 
  An admit letter for the approved MS courses from the relevant authorities.
• 
  The university or college should be on the bank’s categorical list of educational institutions.

Documents Required for Unsecured Axis Bank Education Loan Abroad

There are three different times at which you will need some documents. The initial set of documents will be required when the loan application is in process, the second set of documents will be required during the first disbursement, and the last set of documents will be required for the subsequent disbursement.

Documents Required During the Initial Phase of the Loan Process:

For salaried individuals:

• 
  KYC documents
• 
  Bank Statement / Pass Book of last 6 months
• 
  Optional – Guarantor Form
• 
  Copy of admission letter of the Institute along with fees schedule
• 
  Mark sheets / passing certificates of S.S.C. (Secondary School Certificate), H.S.C (Higher Secondary School Certificate), and Degree courses.

For all other Individuals:

• 
  KYC documents
• 
  Bank Statement / Pass Book of last 6 months
• 
  Optional – Guarantor Form
• 
  Copy of admission letter of the Institute along with fees schedule
• 
  Mark sheets / passing certificates of S.S.C. (Secondary School Certificate), H.S.C (Higher Secondary School Certificate), and Degree courses.

Documents Required for the First Disbursement:

• 
  Demand letter from a college or university
• 
  Loan agreement signed by the applicant and co-applicants
• 
  Sanction letter signed by the applicant and co-applicants
• 
  Disbursement request form signed by the applicant and co-applicants
• 
  Receipts of margin money paid to the college/university, along with a bank statement reflecting the transaction
• 
  Documents for collateral security (if applicable)
• 
  Form A2 signed by the applicant or co-applicants in case of an overseas institute

Documents Required for Subsequent Disbursement:

• 
  Demand letter from a college or university
• 
  Disbursement request form signed by the applicant and co-applicants
• 
  Receipts of margin money paid to the college/university, along with a bank statement reflecting the transaction
• 
  Exam progress report, marksheet, bonafide certificate (anyone)
• 
  Form A2 signed by the applicant or co-applicants in case of an overseas institute

Features of Secured Axis Bank Education Loan Abroad

Apart from providing Axis Bank education loan without collateral, it can also provide you with secured loans in case you are ready to pledge some collateral with the bank. In case of collateral as well the co-applicant profile is considered. Different features that are associated with a secured abroad education loan with Axis Bank are –

• 
  If you have pledged a residential property as collateral and your co-applicant is salaried, then you can get up to 85% of the property value.
• 
  If you have pledged a residential property as collateral and your co-applicant is self-employed, then you can get up to 75% of the property value.
• 
  In case you have pledged a commercial property, then you can get up to 50% of the property value.
• 
  You can get Axis education loan interest rate between 9.99% – 10.50% for secured loans.

The main benefit of a secured education loan is that the course and university list are not considered. That is, you can be from any university and course, no matter whether it is listed in the Axis Bank university list or not.

Subsidies on Axis Bank education loan

Under the Central Government Interest Subsidy Scheme offered by Axis Bank, economically disadvantaged students can receive Axis Bank student loans for professional or technical studies at accredited institutions. Key features include:

• 
  Government payment of interest during the moratorium.
• 
  A maximum loan amount of INR 7.5 lakh.
• 
  Subsidy available only once.
• 
  No subsidy if the course is discontinued.

How to Apply for Axis Bank Abroad Education Loan?

The process of starting a loan application with Axis Bank is quite simple. All you need to do is follow the below-mentioned steps.

Check Loan Eligibility:

The first step is to check your loan eligibility with GyanDhan, which will require you to fill out some details like personal details, target university, loan amount, and more.

Loan Processing:

After checking your loan eligibility, an education loan counselor (ELC) from GyanDhan will contact you and provide a personalized document checklist. You’ll need to arrange the documents while the ELC pushes your details to Axis Bank.

Free Doorstep Document Collection:

Once you arrange all documents, an Axis Bank relationship officer (RO) will collect and verify them. Missing documents will be notified by GyanDhan’s ELC and Axis Bank’s RO within 1 day.

Loan Approval and Sanction:

After all the verification is done, a loan approval mail (with loan amount and other details) is sent to the applicant, who needs to sign it so that the same can be sanctioned.

Learn more about Axis Bank education loan disbursement process. 

Benefits of Getting Axis Bank Education Loan Abroad from GyanDhan

There are several benefits that you would get by proceeding with your loan from Axis Bank through GyanDhan. Some of the benefits have been listed below –

Guaranteed Best Loan:

GyanDhan is committed to providing you with the most advantageous education loan available. Our team ensures that we secure the best possible deal for you. If you come across a better offer, we will compensate for the variance in Axis Bank education loan interest rate throughout the entire period of your education loan.

Higher Chances of Approval:

GyanDhan ensures Axis Bank only receives your application after meeting all eligibility requirements.

Customized Document Checklist:

GyanDhan provides a tailored list of required documents, including alternative options which helps in quick document submission.

Low Turnaround Time:

GyanDhan can complete the loan process in 5-7 days (after document submission), compared to Axis Bank’s 15-day procedure if an applicant goes directly to the Bank.

100% Free of Cost Services:

When you proceed with GyanDhan, an education loan counselor will guide you throughout the process, without any added cost.