Panjab National Bank Education Loan , Students loan details , Education Loan Interest Rates , Eligibility , Application Form

Panjab National Bank

Panjab National Bank’s Education Loan - PNB SARASWATI

Objective of the Scheme :

The Scheme aims at providing financial assistance to deserving / meritorious students ( Indian Nationals ) for pursuing higher professional and technical education in India or abroad.

Eligibility of the Student  :

  • Should be an Indian National.
  • Should have secured admission to a higher education course in recognized institutions  in India or Abroad through Entrance Test / Merit Based Selection process after completion of HSC( 10 plus 2 or equivalent ). OR Where the admission is purely based on marks scored in qualifying examinations, there is a cut off percentage of marks of 50% for SC / ST and 60% for General category.

Studies in India :

  • 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 etc., approved by Director General of Civil Aviation / Shipping, if the course is pursued in India.
  • Approved courses offered in India by reputed foreign universities.
  • Admission under Management Quota may also be considered.
  • For studying part-time job oriented courses ( evening classes or otherwise ), which are approved / recognized by the regulatory body / authority.
  • Job oriented specialized programmes like maritime courses which are offered in collaboration with foreign institutions and may not be having recognition in India.

Studies over a Wide Area :

  • Graduation: For job oriented professional / technical courses offered by reputed universities.
  • Post graduation: MCA, MBA, MS, etc.
  • Courses conducted by CIMA- London, CPA in USA etc.
  • Degree / Diploma courses* like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in India / abroad for the purpose of employment in India / abroad.

Liability of Finance :

Expenses allotted for the Loan :

  • Fee payable to College / School / Hostel
  • Examination / Library / Laboratory fee.
  • Purchase of books / equipments / instruments / uniforms.
  • Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts,
  • Travel Expenses / Passage money for studies abroad.
  • Purchase of computers at reasonable cost, if required for completion of the course.
  • Insurance premium for student borrower, if applicable
  • Any other expense required to complete the course - like study tours, project work, thesis etc.

Quantum of Finance :

Need based finance, subject to employability and earning potential of the student with prescribed margin as per the following ceilings :-

  • For studies in India: Maximum Rs.10.00 lacs.
  • For studies abroad: Maximum Rs.20.00 lacs.

Margin :

Upto Rs.4.00 lacs



Above Rs.4.00 lacs

Studies in India


Studies Abroad


Moratorium :

Course Period plus one year or six months after getting job, whichever is earlier.

Rate of Interest :


BPLR System

Base Rate System


Repayable in less than 03 yrs

Repayable in 03 yrs & above

Repayable in less than 03 yrs

Repayable in 03 yrs & above


i. Loan Upto Rs.4 lac

BPLR – 0.50%

BPLR  - 1.00 +  TP


BR+2.50%+ TP

ii. Loan over Rs.4 lac to Upto 7.50 Lacs

BPLR + 0.25%

BPLR -0.25% + TP


BR+3.50%+ TP

iii. Loan over Rs. 7.50 lac

BPLR + 0.25%

BPLR -0.25% + TP


BR+3.00% + TP

Repayment Period of the Loan :

Course period + 1 year or 6 months after getting   job, whichever is earlier.

Repayment of loan will be in equated monthly installments ( EMIs ) for period as under:

  • up to Rs.7.50 lac - upto 10 years
  • Above Rs.7.50 lac - upto 15 years

For more Details, Kindly refer the following link :

To Apply Online :

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