Punjab national Bank Education Loans

Punjab National Bank offers educational Loan to the deserving students on the name of "Vidya Lakshya Purti" scheme. The Scheme enables all type of needy students viz., students of +2 stage, Graduation courses - B.A., B.Com., B.Sc., etc., Post-Graduation courses, PhD programs, Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc., Computer Certificate courses of reputed Institutes accredited to Department of Electronics or institutes affiliated to University; Courses like ICWA, C.A., CFA, etc., courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc., Evening Courses of reputed Institutes; Diploma/Degree courses conducted by Colleges/Universities approved by UGC/Govt./AICTE/AIBMS/ICMR, etc., Courses offered by National Institutes and other reputed Private Institutes.

Student Eligibility

Should be an Indian National.
Secured admission to Professional / Technical courses through Entrance Test / Selection process in India or secured admission in foreign University / Institutions.
Student should have secured pass marks in the qualifying Examination for admission to Graduation Courses.

Expenses covered

Fee payable to College / School / Hostel
Examination / Library / Laboratory fee.
Purchase of books / equipments / instruments / uniforms. Secured admission to foreign University / Institutions.
Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts.
Travel Expenses / Passage money for studies abroad.
Purchase of computers - essential for completion of the Course.
Boarding and lodging expenses in recognized Boarding Houses / private accomondations Any other expense required to complete the course - like study tours, project work, thesis, etc.

Finance Support

Need based finance, subject to repaying capacity of the parents / students with margin and the following ceilings:
For studies in India: Maximum Rs.7.50 lacs.
For studies abroad: Maximum Rs.15.00 lacs.

Margin

Up to Rs.4 lacs: Nil.
Above Rs.4 lacs:
Studies in India 5%
Studies Abroad 15%

Repayment

Repayment Holiday / Moratorium Course period + 1 year OR 6 months after getting job, whichever is earlier.
The Principal and interest is to be repaid in 5-7 years after commencement of repayment.
If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years.
For further details, click on the link:
Punjab national Bank Education Loans