PNB Education Loan Details 2013: Education Loan by Punjab National Bank is provided to needy students for doing higher education in India and abroad but the college/university should be approved from UGC/AICTE/AIBMS/ICMR etc. The student should be an Indian resident to avail the benefits of the educational loan scheme. The educational loan can be up to a maximum of 10 lakhs for study in India and 20 lakhs for doing higher studies from abroad. Various Indian banks including PNB has made the process easy for applying to education loan through Online application form. The interest rate for education loan by PNB and other details are mentioned below:
PNB Interest Rate and terms and conditions: Punjab National Bank Education loan vary from Rs. 4 lakhs to a maximum of Rs. 10 lakhs for studying in India and to Rs. 20 lakhs for getting higher education from abroad. Students getting loan of RS 4 lakhs or less do not have to give any security and the interest rate is 12.50% per annum. For amount between 4 and 7.5 lakhs the rate of interest is 13.50% per annum with security from third party(parents) along with salary documents and other proofs. For loans exceeding 7.5 lakhs student has to submit all the documents along with proof of admission and other details with PNB executives verifying the details, the interest rate in this case is 13% per annum.
PNB Online Application Form Details 2013: Punjab National Bank has started the Online facility for loan seekers of various purposes including Education loan. Now the students can apply for education loan from the website of PNB by looking into terms and conditions and submitting the form there only without going to any branch.
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