PNB Education Loan

✓ Broad range of Student Loan Schemes

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Table of content

PNB Education Loan for Abroad Studies
PNB Education Loan Schemes to study in India
PNB Udaan Eligibility
Government Subsidy Schemes
PNB Bank Education Loan Processing fee
Documents Required for Punjab National Bank Education Loan
Punjab National Bank Education loan insurance
Punjab National Bank loan margin calculation
How to apply for an education loan from PNB?
Why go through WeMakeScholars?
Why and How to transfer your education loan to Punjab National bank?
PNB Education loan EMI calculation as per interest rate
Punjab National Bank Education Loan Repayment process
FAQ's
Need Help? Ask Here!

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 the other 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

PNB Education Loan for Abroad Studies

The PNB provides 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

Parameter	Details
Loan Limit	No limit for the loan as need-based finance is offered
Expenses covered	Study costs College fee Purchase of books, equipments, instruments, uniforms Laboratory fee Library fee purchase of computer, and other equipment for study Expenses for Study tours Project work expenses Thesis expenses Living expenses Expenses for food Hostel fee Caution fee Building fund Other Expenses for travel Health insurance Miscellaneous expenses
Accepted co-applicant	Parents, parents-in-law, spouse, siblings
PNB Education loan interest rate	Starts from 8.35%
Moratorium Period	Course period plus 1 year
Repayment Duration	Up to 15 years
Repayment policies	The interest payment is optional in the moratorium period
PNB loan Eligibility Criteria	Should be a resident of India Should have secured admission into a higher education course after HSC completion
Value of Collateral (only if it is collateralized )	Up to 125% of the sanctioned loan amount
Accepted Collateral	House, land, Flat, and FD

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 precious institutions like CIMA in London and courses like CPA in the USA.
Courses that come under Government Subsidy Schemes.
Degree/Diploma courses like pilot training, shipping, aeronautical, etc. If going for courses other than these in 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.

PNB Education Loan Schemes to study in India

PNB offers 6 different education loan schemes to study in India which are categorized with the merit, need or course pursued by the student.
PNB Saraswati
PNB Pratibha
PNB Kaushal
PNB Pravasi Shiksha Loan
PNB PM Cares Education Loan Scheme
PNB Honhaar

PNB Saraswati

The scheme is exclusively for meritorious students in helping them pursue higher education based on merit merit-based selection process. The scheme is need-based and so offers quantum based on the needs of the student.

Here are the complete details of the PNB Saraswati education loan!

Parameter	Details
Loan Limit	Quantum-based finance to meet the needs of the student
Expenses covered	Study costs University fees like admission and tuition fee Book purchase Library fees Laboratory fee Purchase of laptop, computer, or other equipment Expenses for Study tours, thesis, project work, etc. Living expenses Expenses for food Fund for building, a hostel Caution deposit Other Health insurance Uniforms Miscellaneous expenses
Accepted co-applicant	Parents, parents-in-law, spouse, siblings
PNB Education Loan interest rate	Starts from 8.35%
Moratorium Period	Course Duration + 1-year
Repayment Duration	Maximum 15 years
Repayment policies	Payment of interest is not mandatory
Punjab National Bank Education Loan Requirements	Should be an Indian resident Must have been admitted into a recognized university in India and through merit
Value of Collateral (only if it is collateralized )	Collateral needs to be 125x the value of the sanctioned loan amount
Accepted Collateral	Land, House, Flat, and FD

Tip: Fee paid within six months of loan application can be reimbursed. However, the negotiation can be daunting for you to do with the bank. Talk to the Financial Officer from WeMakeScholars to negotiate for you.

Courses Eligible:

Courses for graduate, postgraduate, and PG diplomas are conducted by recognized colleges or universities.
CA, CFA, ICWA, etc are eligible
Regular/Diploma courses in technical fields like shipping, aeronautical, etc.
Approved courses offered by foreign universities in India
The ones defined under Government subsidy schemes

PNB Pratibha Education Loan to Study in India

The PNB Pratibha education loan is provided by the PNB to help students who are pursuing studies in premier institutes like the following

Business Schools
Medical colleges
Engineering colleges and
Other reputed institutes

Parameter	Details
Loan Limit	Need-based loans are offered depending on the repaying capacity of parents or the co-applicant.
Expenses covered	Study costs Admission and tuition fee Purchase of books, equipments, instruments, uniforms Lab/library fees Purchase of computer at a reasonable cost Thesis, project work, and study hours Living expenses Food expenses Building fund, a hostel Caution deposit Other Health insurance Miscellaneous expenses
Accepted co-applicant	Parents, parents-in-law, spouse, siblings
PNB Pratibha Education Loan interest rate	Starts from 7%
Moratorium Period	Course Duration + 1-year
Repayment Duration	Up to 15 years
Repayment policies	Interest payment optional
Punjab National Bank Education Loan Requirements	Should be an Indian resident Should take up courses in IIM, ISB, XLRI, or NIBM Pune and in specified courses.

Tip: Choose the best institutes in the country to have the best chance at a PNB Pratibha education loan. Contact WeMakeScholars to get started with your education loan today!

PNB Kaushal

The PNB Kaushal Education loan scheme provides up to 1,50,000 for students to pursue Skill development courses.

Parameter	Details
Loan Limit	Between 5,000 to 1,50,000
Expenses covered	Study costs Course fee Fee for examination Lab/library fee Book purchase Equipment and instruments Living expenses Caution deposit Cost of accommodation Any other to complete the course
Accepted co-applicant	Parents or guardians
PNB Kaushal education loan interest rate	Starts from 9.85% per annum
Moratorium Period	For 1-year course duration- course period + 6 months For Courses above 1-year course duration- 12 months post-course completion
Repayment Duration	It varies with the loan amount For loans of up to 50,000- 3 years For Loans between 50,000 to 1 lakh- up to 5 years Loans above 1 lakh- Up to 7 years
Repayment policies	Repaying interest in the moratorium period is optional
Punjab National Bank Education Loan Requirements	Must be a national of India Should have secured admission in a course run by: Industrial Training institutes(ITS) Polytechnics Recognized school, college, or university Training partners affiliated with NSDC, Sector Skill Council, State Skill Mission, State Skill Corporation The courses should lead to certification as per National Skill Qualification Framework(NSQF)

Tips: The PNB Kaushal education loan is to learn different skills and does not require you to pledge collateral. Contact WeMakeScholars to get started with your PNB Kaushal education loan today!

PNB Pravasi Shiksha Loan

The Pravasi Shiksha education loan scheme funds the education of overseas citizens of India or persons of Indian origin in India.

Parameter	Details
Loan Limit	The loan amount is based on the needs of the applicant
Expenses covered	Study costs Fee paid to the university For buying books Fees of the library Laboratory fee Purchase of laptop, computer, or other equipment Expenses for Study tours, thesis, project work, etc. Living expenses Hostel expenses will be provided for the hostel of the institute. If the student opts to stay outside of the university, then he/she will have to arrange their accommodation expenses Other Travel expenses Miscellaneous expenses
Accepted co-applicant	Parents, parents-in-law, spouse, siblings
PNB Education Loan rate of interest	Collateral loans- 9 to11% Non-collateral loans- 12-14%
Moratorium Period	Course Duration + 1-year
Repayment Duration	10 years excluding the moratorium period
Repayment policies	Repayment from outside of India can be done through normal banking channels or through NRE/FCNR(B)/NRO accounts.
Punjab National Bank Education Loan Requirements	Should be an overseas citizen of India or a student of Indian origin Should pursue a full-time regular course(graduate/postgraduate/diploma/executive)
Value of Collateral (only if it is collateralized )	The value of immovable or liquid security should be at least 125% of the loan amount
Accepted Collateral	Immovable property- House, flat, NA land Liquid security- Government security, NSCs, KVPs, IVPs/PSU bonds

Tips: There are education loan schemes that offer reimbursement for the already paid fees. However, the PNB Pravasi Shiksha loan scheme does not offer reimbursement and hence consult your financial officer from WeMakeScholars before paying the fee to the university.

PNB PM Cares Education Loan Scheme

The PNB PM Cares education loan scheme is to help children who have lost their parent(s) due to COVID. It provides them with health insurance, funds for education, and for self-sufficient existence.

Parameter	Details
Loan Limit	To meet Need-based finance is offered
Expenses covered	Study costs The fee to be paid to the university/college Purchase of books, equipments, instruments, uniforms Fees for the library Laboratory fee Purchasing a laptop, computer Study tour, thesis, and project work expenses. Living expenses Deposit for caution Refundable deposit or building fun Other Insurance premium for student/borrower, if applicable Miscellaneous expenses
Accepted co-applicant	Parents, siblings, or guardians
PNB Education Loan rate of interest	Starts from 8.60%
Moratorium Period	Period of the course + 1 year
Repayment Duration	15 years of repayment period
Repayment policies	Interest payment in the moratorium period is not mandatory
Punjab National Bank Education Loan Requirements	Indian citizens who, due to COVID, have lost their Both parent or surviving parent Adoptive parent/legal guardian The child should not be 18 years old at the time of the death of his/her parents Should have secured admission into a college or recognized university
Value of Collateral (only if it is collateralized )	125% of the sanctioned loan amount
Accepted Collateral	Land, FD, house and flat

PNB Honhaar

The PNB Honhaar education loan scheme is exclusively for students to study in Delhi and provides up to 10 lacs for it.

Parameter	Details
Loan Limit	Up to 10 lacs based on the need of the student to pursue course subjects
Expenses covered	Study costs University fees like admission and tuition fee Book purchase Library fees Laboratory fee Purchase of laptop, computer, or other equipment Expenses for Study tours, thesis, project work, etc. Living expenses Expenses for food Fund for building, a hostel Caution deposit Other Health insurance Uniforms Miscellaneous expenses
Accepted co-applicant	Parents or guardians
PNB Education Loan rate of interest	Starts from 10.35%
Moratorium Period	1-year post-course period
Repayment Duration	Maximum of 15 years
Repayment policies	You can opt out of interest payment in the moratorium period
PNB loan Eligibility Criteria	Must be a resident of India Should have done their 10th and 12th from Delhi and should be willing to study in Delhi Should have secured admission to a college/university recognised in Delhi through a merit-based selection process or entrance examination.

Tip: If applying for a scholarship along with the loan, include it in the loan assessment. The scholarship will be credited to the loan account if you receive the scholarship. Request a callback from WeMakeScholars for more tips on the PNB Honhaar education loan and stand the best chance of getting the loan sanction.

Select a scheme to study in India from a broad range of schemes!

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PNB Udaan Eligibility

What are the other eligibility criteria for higher studies loan from PNB?

Find out

Government Subsidy Schemes

The government of India has introduced several schemes which waive off the student loan interest in the moratorium period, provided students meet the eligibility criteria.

Dr. Ambedkar Central sector scheme

The scheme is for meritorious/deserving students from OBC and EBC backgrounds. Through this scheme, the interest accrued in the moratorium period is paid by the government.

Eligibility:

The family income of the student should be less than 8 lacs per annum.
The student should have taken an education loan for overseas studies in Masters, M.Phil. and Ph.D. level
The education loan scheme must follow the Indian Banks Association (IBA) Guidelines

Padho Pardesh scheme

The scheme was introduced to help minorities(Muslims, Sikhs, Jains, Buddhists, Christians, and Zoroastrians) pursue education abroad. It provides an interest subsidy in the moratorium period for students who have taken an abroad education loan. The family income of the applicant’s family should not be more than 6 lacs per annum.

Note: The Padho Pardesh scheme has been stopped by the government. However, the beneficiaries as of 31st march 2022 will continue to receive interest subsidy for the moratorium period.

Central Scheme for Interest Subsidy for Economically Weaker Sections

The scheme is provided to help the Economically weaker sections of society in pursuing technical and professional courses in India. The annual income of the applicant’s family should not be more than 4.5 lacs per annum. If the education loan is under IBA guidelines, the interest of the moratorium period will be paid by the government.

PNB Bank Education Loan Processing fee

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

Education Loan scheme	Processing fee
PNB Pravasi Shiksha Loan	1% of the loan amount, a minimum of Rs 10,000(non-refundable)
All the study in India loan schemes except PNB Pravasi Shiksha Loan	Nil
Study Abroad Education Loan schemes	1% of the total amount, minimum up to Rs 10,000(will be refunded after 1st disbursement)

The processing fee of 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.

Documents Required for Punjab National Bank Education Loan

Here are the details of the documents required for an education loan in PNB. Check your education loan eligibility and arrange the following documents.

Fill out the PNB education loan form which will be provided by WeMakeScholars Financial Officer. Sign the application form and along with it attach two photographs.
Documents for the applicant:
- Identity proof: PAN card, Aadhar card, and passport if you are going abroad
- Proof of residence: Voter ID card, Aadhar card, utility bills(electricity or telephone bills), ration card, and bank account statement
Documents for co-applicant
- Bank account statement of 6 months(if salaried)
- Business transactions of 1 year(if self-employed)
Academic documents of the applicant
- Marksheets of 10th, 12th, and degree
- Proof of admission with the total duration of the course
- Structure of fees
- GMAT/GRE/IELTS scorecard
- University ranking
Financial co-applicant’s income documents(if salaried)
- Payslips of last 3 months
- Last 2 years form 16
- ID card of the employer
- Last 2 years ITR
Documents for financial co-applicant(if self-employed)
- Last 3 years ITR
- Profit and loss account of the last 3 years and the balance sheet
- Address proof of the business
Other documents
- A letter in which you need to declare that the leftover expense required to be completed will be borne by your co-applicant(the format will be provided by WeMakeScholars Financial Officer)
- Notarised joint affidavit with the student and co-applicant(format will be provided by WeMakeScholars Financial Officer.
Additional documents(if required)
- Advance payment receipt of the university
- Pending loan account statement
- If you have had any gap in your studies, explain it in a letter on Rs 100 stamp paper.
Collateral documents
- The PNB bank does not have a definite list of collateral documents as they vary by state. Contact your WeMakeScholars Financial Officer to have an accurate list of documents required including the collateral documents to start off the process of your loan.

Download accurate documents list for PNB student loan according to your state!

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Punjab National Bank Education loan insurance

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.

Punjab National Bank loan margin calculation

Education loans to students are available in Punjab National Bank with certain loan margins for each of the schemes. PNB Udaan levies a 15% margin for loans of and above 4 Lakhs, while PNB Saraswati charges a 5% margin for the same. PNB Pratibha has no loan margin it depends on the institute and similarly, PNB Kaushal and PNB Honhaar have no margin. Its PNB Pravasi needs a 20% margin and PNB PM Cares Education Loan Scheme has a 5% margin for an amount more than 4 Lakhs. Take a look at the table to get a better idea:

Name of the scheme	Loan margin
PNB Udaan	15%( only for loans above 4 lacs)
PNB Saraswati	5%(only for above 4 lacs loan)
PNB Pratibha	No loan margin( loan amount dependent on the institute)
PNB Kaushal	Nil
PNB Pravasi	20%
PNB PM Cares Education loan scheme	5%(above 4 lacs loan)
PNB Honhaar	Nil

If you cannot manage the loan margin amount from your end for the expense required to complete, you can talk to your financial officer from WeMakeScholars who will either try to reduce the loan margin with the lender or will suggest a better alternative for a student loan.

How to apply for an education loan from PNB?

Apply for an education loan by Punjab National bank through WeMakeScholars for a faster loan sanction by following the below-given steps.

Step 1- Request a callback from WeMakeScholars or fill out a common application form.
Step 2- A financial officer from WeMakeScholars will call you back as soon as possible and will begin your study loan process by taking your details.
Step 3- He/she will then match your details with the best loan possible for you and will connect you to those lenders after sending you a document uploading link
Step 4- You will need to upload all the documents in the document uploading link, to take your education loan process forward
Step 5- The next steps in the process will be carried out the by assigned lenders
Step 6- Meanwhile your financial officer will also be in touch with you to clear any confusion that you might have in your Punjab National bank loan process.
Step 7- You will have the sanction letter in your hand in the time promised by your financial officer.

Why should not go directly through banks?

The issues you may face while going directly through banks

Complicated education loan process
Won’t provide the complete list of required documents
Several types of charges will be hidden from you
The loan process will take longer to complete
You will have fewer chances of a loan sanction

Why go through WeMakeScholars?

WeMakeScholars is an organization that aims to provide unbiased study loans to students wishing to pursue higher education in India and 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.

We bet you didn't know that you can save taxes on study loan under section 80E!

Know More

Why and How to transfer your education loan to Punjab National bank?

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.

PNB Education loan EMI calculation as per interest rate

If you borrow Rs. 20 Lakhs for education with the help of the PNB Loan EMI calculator and are charged 13% per annum for the loan with a tenure of 10 years and a moratorium period of 2 years, your EMI would be Rs. 39,228. The first year interest to be paid is Rs. 27,107 and the principal is Rs. 12,121 leaving the outstanding amount to be Rs. 24,90,078. By the tenth year, the interest drops to Rs. 420 while the principal amount is Rs. 38,807 as the loan is fully amortized. This helps in determining the annual payment and balance outstanding in the tenure of the loan amount.

Timeline	EMI	Interest portion	Principal portion	Loan Outstanding
Year 1	39228	27107	12121	2490078
Year 2	39228	25434	13794	2333972
Year 3	39228	23530	15697	2156318
Year 4	39228	21363	17864	1954143
Year 5	39228	18898	20330	1724060
Year 6	39228	16091	23136	1462219
Year 7	39228	12898	26330	1164235
Year 8	39228	9263	29964	825119
Year 9	39228	5127	34100	439195
Year 10	39228	420	38807	0

If unable to figure out the calculation of EMI, talk to your financial officer at WeMakeScholars!

Punjab National Bank Education Loan Repayment 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!

WeMakeScholars provides you with assistance right from student loan process until the repayment.

Get started now

FAQs:

What is the interest rate for an education loan in PNB?

The interest rate in Punjab national bank ranges from 9% to 14% depending on whether the loan is collateralized or non-collateralized.
What are the documents required for an education loan in PNB bank?

The PNB will require you to submit documents for identity proof, residence proof, income proof, and collateral documents if applicable. Also, you can get an accurate list of documents on the WMS portal.
How can I check my loan eligibility in PNB?

The PNB has different schemes and so the eligibility varies for each scheme. However, you can request a callback from WeMakeScholars to check your eligibility for an education loan.
Can I get an education loan without my parent's income?

Yes, you can definitely get an education loan without your parents’ income as you can also choose a co-applicant other than your parents.

NEWS

Punjab National Bank Raises MCLR by 5 Basis Points, Affecting Education Loan Rates

Punjab National Bank have recently hiked their Marginal Cost of Lending Rate (MCLR) by 5 basis points due to the escalating inflation. Effective since September 1, 2023, these revised rates will impact anyone going for car loans, education loans, personal loans, or home loans, either at present or in the future. The MCLR, being the benchmark that influences loan interest rates directly, plays a crucial role in this scenario.

Punjab National Bank, ranking as the second-largest public sector bank, also followed suit by elevating its MCLR by 5 basis points. Consequently, their overnight MCLR surged from 8.10 percent to 8.15 percent. Furthermore, the one-month MCLR escalated from 8.20 percent to 8.25 percent, while the three-month MCLR increased from 8.30 percent to 8.35 percent.

Understanding MCLR is important. It acts as a fixed lending rate utilized by banks to determine interest rates for various loans. It sets a minimum lending rate below which banks cannot offer loans. Any alterations in the MCLR directly impact the interest rates and Equated Monthly Installments (EMIs) for customers. Higher MCLR rates translate to increased EMI burdens for customers.

Last Updated - 30/11/2023

Our Education Loan team will help you with any questions

Naresh Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.

Published: 26 Dec, 2022 | Updated: 01 Jul, 2025

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