2023 2024 EduVark > Education Discussion > Banks Related


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April 17th, 2017, 11:09 AM
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Join Date: Mar 2012
Re: Punjab National Bank Study Loan

Established in 1894, Punjab National Bank (PNB) is one of India’s oldest and third largest public sector banks which cater to over 80 million customers.

Bank offers multiple education loans and schemes to students and individuals, who wish to pursue higher education in India and abroad.

Under education loans, it offers four distinct kinds of loans which are PNB Udaan, PNB Kaamgar, PNB Pratibha and PNB Saraswati.

PNB PRATIBHA

The Scheme `PNB PRATIBHA`– Education Loan for Premier Institutes in India - aims at providing financial support to meritorious students who get admission in Premier Institutes in India.

Purpose
Fee payable to college/ school/ hostel
Examination/ Library/ Laboratory fee
Life Insurance premium for student borrower, if applicable
Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
Purchase of books/ equipments/ instruments/ uniforms.
Purchase of computer, at reasonable cost, if required for completion of the course.
Any other expense required to complete the course - like study tours, project work, thesis, etc.

Eligibility
Should be an Indian national
Should have secured admission in Regular full time Degree / Diploma courses offered by Premier Institutes, which include (i) Business Schools, (ii) Engineering Colleges, (iii) Medical Colleges and other reputed Institutes as per Annexure `I` & `II`
Part-time Post Graduate Programmes in Management for Executives’, offered by Indian Institute of Management (IIM) at all centers.
Post Graduate Programme in Management for Senior Executives (PGPMAX), offered by Indian School of Business (ISB) Hyderabad & Mohali campus

Quantum of Finance
Need based Finance subject to repaying capacity of the parents/ students (after getting employment);
Reimbursement of fees paid within six months may be considered on individual merits of the case.

Margin
i. In case of institutes covered at Annexure-I : - NIL
ii. In case of Institutes covered at Annexure-II :
Up to Rs. 4 lac - NIL
Above Rs. 4 lac - 5%
iii. Scholarship/Assistantship be included in margin
iv. Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
Annexure-I - NIL
Annexure-II - 5%

Security
Co-obligation of parents/guardian as joint co-borrowers

Repayment (Maximum)
Maximum upto 15 years

Repayment Holiday/ Moratorium
Course period + 1 year


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