PNB Loan: Want education loan with repayment holiday facility? See if this suits you

PNB Loan: If you are aspiring to study in the country’s top educational institutions and looking for a loan with a repayment holiday or moratorium, this could be of interest to you. India’s second largest Public Sector 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.

PNB is offering ‘PNB PRATIBHA’ education loan for studying in premier institutes in India. 

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

Purpose of this loan:  

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

Eligibility:      

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

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