PNB Education Loan

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.

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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.