Hello sir I am Mandeep, I want to apply for Education Loan at Punjab National Bank so will you please tell me where can I get the Application Form of this Loan??

Hey!! Punjab National Bank offers Education Loan to provide financial support to meritorious students for pursuing higher education in India.

For getting Application Form for this Loan Scheme of Punjab National Bank follow the below given steps

Login to the official website of Punjab National Bank



On this home page click on Downloads given at the bottom right side of the page



This page will open, here search and click on “Application Form for Education Loan”

Form in PDF format will open

Eligibility Criteria

-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 HSC(10 plus 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 7.50 lac – MCLR+2%

-Loans above Rs 7.50 lac – MCLR+2.60%

-MCLR+1.10% 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.

-Simple interest be charged during the Repayment holiday/ Moratorium Period