PNB Loan: Know about this education loan with 1 yr repayment holiday facility

PNB Loan: If your dream is to study in country’s top education institutions but are worried about the finances, see this facility offered by India’s second largest public sector bank. Punjab National Bank (PNB) is offering a loan facility that will allow you a repayment holiday of 1 year other than the course duration. Check this amazing facility to know if it suits your requirement.

What PNB offers?

The state-run bank is offering ‘PNB PRATIBHA’ education loan for studying in premier institutes in India. See the list of institutes here.

The objective of this scheme is to provide financial support to meritorious students who get admission in country’s premier institutes.

Loan Purpose:  

1. Fee payable to college/ school/ hostel.
2. Examination/ Library/ Laboratory fee.
3. Life Insurance premium for student borrower, if applicable.
4. Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
5. Purchase of books/ equipment/ instruments/ uniforms.
6. Purchase of computer, at reasonable cost, if required for completion of the course.
7. Any other expense required to complete the course - like study tours, project work, thesis, etc.

See Eligibility Here:      

1. Should be an Indian national.
2. Should have secured admission in Regular full time Degree / Diploma courses offered by Premier Institutes
3. Part-time Post Graduate Programmes in Management for Executives’, offered by Indian Institute of Management (IIM) at all centers.
4. Post Graduate Programme in Management for Senior Executives (PGPMAX), offered by Indian School of Business (ISB) Hyderabad & Mohali campus

How much does PNB Finance – The bank will extend the finance facility as per the need, its website says subject to repaying capacity of the parents/ students (after getting employment). Reimbursement of fees paid within six months may be considered on individual merits of the case.

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The loan extended by the bank will be for a period of 15 years. Visit the website to know about the interest rates.