RETAIL ASSETS BRANCH, JMD Pacific Square, Sector 15, Part-II, Gurgaon
Ph. 4201096-97, Email: bo5278@pnb.co.in
PNB EDUCATION LOAN SCHEME & CHECKLIST PNB PRATIBHA
(EDUCATION LOAN FOR PREMIER / REPUTED INSTITUTES)
Loan Amount
Interest Rate & Repayment
period (MCLR-1 yr
basis=9.40% wef: 01.04.2016)
Interest Concession
Margin
Repayment Period
Repayment Holiday
Processing Fee &
Documentation Charges
Eligible person
Expenditure Covered
Purpose
Pre-Payment Charges
Non-payment charges
Assets Insurance
Documents required
PNBs Commitment
Varying from Rs. 7.50 Lacs to 20 Lacs (According to the Institute)
ROI up to 7.5 lacs -10.00 % %[MCLR + 0.60%]
- above 7.5 lacs -9.50% [MCLR + 0.10%]
(Simple interest charged during repayment holiday)
0.50% rebate for female students
In case interest is repaid regularly during study period, Interest rebate of 1.00 %
NIL
For Loans upto 7.50 Lacs : Upto 10 Years | For Loans above 7.50 Lacs : Upto 15 Years
Course period +1 year or 6 months after getting job, whichever is earlier
Processing Fees : NIL
Documentation Charges : Upto 4 Lacs : Rs. 270 + ST+ED Cess | Above 4 Lacs : Rs. 450 +
ST+ED Cess
Inspection charges for security verification: Rs.250/- + ST
Should be an Indian national
Admission secured to Professional/Technical courses in India through Entrance
Test/Merit Basis Selection Process. (Management Quota will not be considered) in
Premier Institutes, eg : IIMs IITs, MDI etc.
(Eligible institutes as per the List Issued vide PNB Pratibha Education Loan Circulars)
Fee payable to college/ School/ Hostel/ Examination / Library/ Laboratory fee
Purchase of books/ uniforms/ equipment/ computer/ other essentials.
Insurance premium for student borrower
Any other expense required complete the course-like Study Tours/Projects etc..
No deserving student should be denied an opportunity to pursue higher education for
want of financial support in line with the Policy of Govt. of India.
No Part/Full Prepayment or foreclosure charges.
Penal interest@2% besides Cheque bouncing and other out of pocket charges.
Low Cost Life cum Assets cover Insurance from PNB Metlife Insurance Co. Ltd.
1. Loan Application with Passport size photograph of Borrower/s & Guarantor
2. PAN no. of Borrower/s and Guarantors
3. Residence Proof of all the Borrower/s and Guarantors;
1. Income proof of (Salaried) Borrower/s and Guarantor ITRs for last 3 years & latest
Salary Slip/ Salary Certificate/Form-16 duly verified by employer/ Employees I-Card
2. For Non-Salaried persons- ITRs with Computation of Income, P/L & Balance Sheet
with Tax Challan/Form 26-AS for the last 3 years duly certified by C.A.
4. Proof having Passed the Last Qualifying examination.
5. Letter of Admission in Professional/Technical/Vocational course.
6. Prospectus of the Course wherein charges like Admission Fee, Exam. Fee, Hostel
Charges etc. are mentioned
7. Documentary Evidence of the Assets and Liabilities of the Borrower/s and
Guarantors
8. Any other Document/Information, depending upon the Case and Purpose of the
Loan.
At the time of disbursement:
1) Borrower/s should have Deposit account with PNB
2) Affidavit on Banks format
Turn-Around time of 5 working days from completion of formalities.
Interest on Daily Reducing Balance
No Pre-Payment or Foreclosure charges
No Hidden Costs
No Collateral Security/Third Party Guarantee required
*Conditions Apply
.