Punjab National Bank offers ‘PNB SARASWATI’ Education loan scheme for students pursuing Higher Education in India.

Eligibility
Should be an Indian national

Should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of 10+2 or equivalent

Cases of Management Quota may be considered on merit basis;

Margin
Up to Rs. 4 lac - NIL

Above Rs. 4 lac - 5%

Scholarship/ assistantship may be considered in margin.

Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

Rate of Interest
Loan upto Rs 4 lac – Base Rate+2%

Loans above Rs 4 lac upto Rs 7.50 lac – Base Rate+3%

Loans above Rs 7.50 lac – Base Rate+2.50%

Base Rate+1% to be charged for all loans, irrespective of amount, where 100% tangible collateral security in the shape of IP, enforceable under SARFEASI act, and/or liquid security is available.

Documentation Charges
Rs.270/- for loans upto Rs. 4 lac and
Rs.450/- for loans above Rs.4.00 lac (exclusive of service tax and education cess)

Repayment (Maximum)
Maximum upto 15 years

CustomerCare Division
(For All Complaints)
Toll Free No.
1800 180 2222
1800 103 2222
Tolled No. 0120-249000
Landline: 011-23714562