PNB Education Loan

Planning to study abroad? Punjab National Bank Education Loans designed to help students achieve their international education dreams. With competitive interest rates, flexible repayment options, PNB ensures a smooth funding process for higher studies abroad. From understanding eligibility under the PNB Udaan scheme to managing loan margins, processing fees, and EMI calculations, this guide covers everything you need to know to secure and manage your education loan efficiently. The Punjab National Bank(PNB) provides a broad range of education loan schemes under different types of education loans. Each loan scheme has a different aim. Some are for meritorious students, while others are to study in premier institutes, and there are also study loan schemes for Overseas Citizens of India. Let us learn about them one by one.

• PNB Udaan
• PNB Saraswati
• PNB Pratibha
• PNB Kaushal
• PNB Pravasi Shiksha Loan
• PNB PM Cares Education Loan Scheme
• PNB Honhaar

The PNB provides the PNB Udaan education loan scheme to study abroad, in which it provides up to 15 years of repayment period.

PNB Udaan Education Loan to Study Abroad

Eligible Courses:

• For UG: Job-oriented professional and Technical courses are preferred by the PNB bank for an education loan abroad. 
• For PG: MBA, MS, MCA, etc.
• Courses that are conducted by prestigious institutions like CIMA in London and courses like CPA in the USA.
• Courses that come under the Government Subsidy Schemes.
• Degree/Diploma courses like pilot training, shipping, aeronautical, etc. If going for courses other than these in a degree and diploma, arrange liquid security of up to 125% of the loan amount.

Have the best chances of the PNB Udaan education loan scheme by knowing the intricacies of it from the WeMakeScholars Financial Officer.

Countries Eligible for an Education Loan from PNB

Below is a list of countries that the Punjab National Bank prefers for offering an education loan to students.

• New Zealand
• The Netherlands
• Ireland
• Germany
• Switzerland
• Australia
• The USA
• Canada
• Dubai
• The UK
• Italy
• Sweden
• Singapore
• France

The benefits of going with PNB student loan for study abroad are listed below.

• The processing fee charged for punjab national bank education loan for study abroad is refunded after the first disbursement
• Consider courses that are under government interest subsidy schemes so students can attain subsidy for interest in the moratorium period
• Scholarship or any financial assistance is included in the loan margin
• Competitive rate of interest
• Gives preferences to professional or technical courses that help students in getting good jobs in the future

These benefits may lure you into going to pnb student loan for study abroad, however, we would advise you to go to PNB through WeMakeScholars as we will sanction your education loan much faster and at better terms than when you go directly through PNB.

Below are a few disadvantages of going through the bank directly

• Partial information about the education loan process
• Inaccurate list of required documents
• You will have to pay multiple visits to the bank for the education loan sanction
• The process too will be longer than usual

Read on to know why WeMakeScholars should be your priority when going for an education loan.

According to PNB Education Loan requirements, the applicant:

• Should be an Indian National
• Should have secured a merit-based admission to a recognized university abroad
• Should be less than 35 years of age if unemployed and 45 years of age if employed
• Other factors are also considered, such as students' academic background, university, courses, and loan type. Based on these, the eligibility varies from case to case.

The processing fee for the PNB bank education loan is listed in the table below.

The processing fee for the PNB student loans is to be submitted directly to the banks. The banks charge a processing fee to process your study loan, whereas we at WeMakeScholars do not charge any fee to process your education loan.

The Punjab National bank insists its applicants on taking loan insurance of 1 to 2% of the loan amount to be on the safer side. In case the applicant loses the ability to repay the loan due to unforeseen circumstances such as disability or death, the insurance company repays the loan on behalf of the applicant.

Request a callback from WeMakeScholars to get started with the process of your education loan.

WeMakeScholars is an organization that aims to provide unbiased study loans to students wishing to pursue higher education abroad. We are partnered with 14+ banks(public/Pvt) and hence provide faster loan sanctions. Here are the benefits of taking an education loan through WeMakeScholars.

Better interest rates: We are partnered with 14+ banks and hence have an interest rate that is up to 2% lower than when you go directly through banks.

Faster Loan process: PNB education loan processing time is reduced by up to 50% time when you process it through us.

Tax benefits: We educate students about tax benefits that they can avail of by taking an education loan.

End-to-end support: Students come to us to get a loan sanction and we in turn provide them with assistance throughout their loan period until the repayment of the full loan, even in a timezone that is 12 hrs apart.

Cashback: Students going through us earn a cashback of Rs 3,000 in their first disbursement.

Interested students can request a callback from us to get started with their education loan process.

The interest payment for the Punjab National Bank education loan is not mandatory in the moratorium period and hence you can opt-out of it. If deciding to opt out of interest payment in the moratorium period, it will add up in the following EMIs. 

The bank also gives you the choice of closing off the loan early in the following ways.

• Opting for a shorter duration of repayment 
• Prepayment
• Balance transfer to another bank

Insure yourself of the education loan repayment issues by choosing WeMakeScholars. Request a callback today!

Here's why you can transfer your study loan to Punjab National bank

• The bank has a low margin or even 0% loan margin for its education loan schemes
• The bank offers a competitive rate of interest to its applicants
• In most of the loan schemes, it does not charge processing fees
• The bank does not have the loan limit for most of its schemes and provides loans according to the financial need of the students.

How to transfer your education loan to Punjab National bank?

• Visit your present student loan bank and collect information about the outstanding loan amount.
• Request a callback from WeMakeScholars and wait for your financial officer to call you back.
• Tell your financial officer that you want to transfer your higher education loan
• He/she will then provide you with a list of documents that you will need to submit to Punjab National bank.
• Once the documents are submitted, the Punjab National bank will clear your dues to the previous education loan and will start the process with them.