PNB Education loan for top premier institutes –  simplifying students finance in india

Introduction

Those students who wants to get admission in premier institutes of India such as IITs, IIMs, AIMs and other reputed institutes can avail loan from PNB Education loan for top premier institutes uner Pratibha scheme. (Premier education loan come under the category of Pratibha scheme)

Loan can be taken by students for various reason such as college fees, school fees, hostel accommodation, purchasing a books, tuition fees and so on, it may covers students personal as well as professionals expenses.

Eligibility criteria of PNB Education loan for top premier institutes

• Student should be an Indian resident.
• Should have secured admission in regular full time degree/diploma course/ PG degree/diploma course of premium institute.
• Student should have part time post graduate programme in management offered by IIM (Indian institute of management) of all centre.
• Student should have part time certificate course for post graduate programme in management for senior executives from Indian school of business (ISB) Hyderabad and mohali campus.
• Student should have E-post graduate programme in management for executive,enterprenure and professionals under distance learning mode offered by Indian institute of management.
• Student should have three years part time post graduate diploma programme in business management conducted by Xavier school of management.
• Student should have post graduate diploma in management offered by National institute of bank management Pune. (NIBM)

 List of documents require for PNB Education loan for top premier institutes

KYC (Know your customer) Documents

• Loan application duly filled and signed in banks format.
• 2 passport size photograph.
• Proof of age – Secured pass mark sheet of 10^th and last qualifying examination.
• Proof of identity – Copy of adhar card, copy of PAN card or passport.
• Proof of address – Copy of electricity bill or copy of rent agreement or copy of post-paid mobile bill. (any one)
• Proof of Academics –  Letter of admission in professional technical or vocational course, prospectus of the course where all charges like – admission fee, examination fee, hostel charges and other should be mentioned.
• Proof of Co-applicant – Details of assets and liabilities of parents and guarantors.

Incase of property mortgage

• Copy of title deed.
• Valuation certificate and non-encumbrance certificate from approved by lawyer.
• Copy of adhar/PAN of students.
• Borrowers declaration certificate that shows that no loans has taken from other banks

ROI (Rate of interest)

Base Rate

Exsisting W.E.F. 01/04/2025 9.50%

Revised W.E.F. 01/07/2025 9.50%

Note – Bank will charge interest on all advances, unless otherwise specified on the basis of 365 days per year. (current repo rate is 5.50%)

Security and Margins for PNB Education loan for top premier institutes

• Co- borrower or co-applicant will be taken students parents or guarantors as joint co=borrower as a security purpose.
• Margin can be taken inform of scholarship or assignment basis.
• Disbursement will be year to year basis on pro data base.
• Assignment of future income of the student for payment of instalments to be taken as security purpose.

Mode of re-payment and processing fees charge

• Re-payment period will be maximum of up to 15 years.
• Re-payment holiday or moratorium period will be course period +1 year.
• Re-payment charges will be nil.

Conclusion (PNB Education loan for top premier institutes)

I hope all information will be helpful and easy to understand for those students who want to pursue their higher studies in premier institute of India. I must say that this “PNB Education loan for top premier institutes” will assist for high quality education and reduces the financial burden for deserving students.

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