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🎓 Punjab National Bank (PNB) Education Loan: A Complete Guide

Whether you’re pursuing higher education in India or planning to study abroad, Punjab National Bank (PNB) offers a wide range of education loan schemes tailored to meet diverse academic goals. From collateral-free funding to competitive interest rates and online application via Vidya Lakshmi Portal, PNB ensures that no deserving student is held back due to financial limitations.

🌟 Why Choose PNB for Your Education Loan?

✅ Collateral-Free Loans up to ₹7.5 Lakh
✅Low Interest Rates starting from 7.85% p.a.
✅No Prepayment Penalty
✅Tax Deduction on interest paid under Section 80E
✅Female Student Concession – up to 0.50% lower rates
✅Available for Both Domestic & International Studies
✅Digital Application via Vidya Lakshmi Portal

🏦 Types of Education Loan Schemes Offered by PNB

🎓 1. PNB Saraswati – For Higher Education in India

Purpose:
To provide financial support to meritorious students pursuing higher studies in India.

Key Features:

• Eligible Courses: Graduate/postgraduate/professional/technical courses in recognized institutions in India.
• Loan Amount: Up to ₹10 lakh (may extend to ₹20 lakh in special cases).
• Collateral: Not required for loans up to ₹7.5 lakh.
• Margin:
  • No margin for loans up to ₹4 lakh.
  • 5% margin above ₹4 lakh.
• Interest Rate: Floating, generally starts from ~9.0% p.a.
• Repayment Period: Up to 15 years (including moratorium).
• Moratorium: Course duration + 1 year or 6 months after getting a job (whichever is earlier).

Ideal For: Students pursuing higher education in Indian institutions via entrance or merit-based admissions.

🌍 2. PNB Udaan – For Higher Education Abroad

Purpose:
To assist Indian students planning to pursue professional/technical education abroad.

Key Features:

• Eligible Courses: MBA, MS, MCA, engineering, medical, or any other job-oriented course offered by a recognized foreign university.
• Loan Amount: Up to ₹75 lakh (need-based).
• Collateral:
  • No collateral for loans up to ₹7.5 lakh.
  • Tangible collateral/security required above ₹7.5 lakh.
• Margin: 15% for loans above ₹4 lakh.
• Interest Rate: Floating, around ~9.0% p.a.
• Repayment Period: Up to 15 years.
• Moratorium: Course period + 1 year or 6 months after employment.

Ideal For: Students looking to finance their international education dreams.

🏫 3. PNB Pratibha – For Premier Indian Institutions

Purpose:
To offer special loan terms to students admitted to top-ranking Indian institutions.

Key Features:

• Eligible Institutes: IITs, IIMs, NITs, AIIMS, ISB, IISc, and other premier institutions (as per PNB’s list).
• Loan Amount: Up to ₹40 lakh (need-based).
• Collateral: Not required. Only a parent/guardian as co-borrower.
• Margin: Nil.
• Interest Rate: As low as 7.85% (floating).
• Repayment Period: Up to 15 years.
• Moratorium: Course period + 1 year.

Ideal For: High-achieving students studying at India’s best government or private institutions.

🛠️ 4. PNB Kaushal – Skill Development Loan Scheme

Purpose:
To support students undertaking skill development and vocational training.

Key Features:

• Eligible Courses: NSDC-affiliated short-term and long-term programs, ITI certifications, polytechnic, etc.
• Loan Amount: ₹5,000 to ₹1.5 lakh.
• Collateral: Not required.
• Margin: Nil.
• Interest Rate: Around 10.35% (RLLR + 1.50%).
• Repayment Period:
  • Up to 3 years for loans up to ₹50,000
  • Up to 5 years for ₹50,000 to ₹1 lakh
  • Up to 7 years for ₹1 lakh to ₹1.5 lakh
• Moratorium: 6 months to 1 year after course completion.

Ideal For: Students focused on industry-ready skills or seeking immediate employment.

🌐 5. PNB Pravasi Shiksha – For OCI/PIO Students Studying in India

Purpose:
To fund education for Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO) enrolled in Indian institutions.

Key Features:

• Eligible Applicants: Children of Indian workers working abroad, or Indian-origin children born abroad.
• Loan Amount: Need-based (as per fee structure).
• Collateral: Mortgage of property (minimum 125% of loan amount) or other tangible security.
• Interest Rate: Floating rate as per PNB’s education loan policy.
• Repayment Period: Up to 10 years.
• Moratorium: Course period + 6 months.

Ideal For: PIOs/OCIs with roots in India, pursuing full-time study in Indian institutions.

💛 6. PNB PM CARES Loan – For Children Affected by COVID-19

Purpose:
To support children who lost their parents due to COVID-19 and are now pursuing professional education.

Key Features:

• Eligibility: Indian students orphaned due to COVID-19 (as certified by state authorities).
• Loan Amount: Up to ₹10 lakh or as per need.
• Collateral: Not required.
• Interest Rate: Around 9.10% (RLLR + 0.25%).
• Repayment Period: Up to 15 years.
• Moratorium: No moratorium; repayment starts immediately after course ends.

Ideal For: Students facing hardship due to COVID-related parental loss.

♿ 7. PNB NHFDC Scheme – For Students with Disabilities

Purpose:
To provide concessional education loans for students with physical or mental disabilities.

Key Features:

• Loan Amount: Up to ₹50 lakh.
• Interest Rate: Fixed at just 4.00% p.a.
• Collateral: As per regular rules (collateral-free up to ₹7.5 lakh).
• Repayment Period: Up to 15 years.
• Moratorium: Course duration + 1 year.

Ideal For: Students with certified disability pursuing academic or professional education.

📊 Summary Comparison Table

📋 How to Apply for a PNB Education Loan

✳️ Apply Online

• Visit https://shikshavahini.com/apply-for-loan

🌐 Supported Countries for Study Abroad Loans

PNB’s Udaan scheme supports education in:

• 🇺🇸 USA
• 🇬🇧 UK
• 🇨🇦 Canada
• 🇦🇺 Australia
• 🇩🇪 Germany
• 🇸🇬 Singapore
• 🇮🇪 Ireland
• 🇳🇿 New Zealand …and many more!

💡 Additional Benefits

✔️ Interest Subsidy for EWS Students
✔️0.50% Discount for Female Students
✔️Tax Benefit under Section 80E (No Cap)
✔️No Prepayment Charges
✔️Collateral-Free Options up to ₹7.5L

✅ Conclusion

Punjab National Bank offers a comprehensive education loan ecosystem to support students across academic levels and locations. Whether you’re enrolling in an IIT, heading abroad for an MBA, or pursuing a technical diploma—PNB has a scheme for you. With affordable rates, digital application access, and long repayment tenure, PNB makes financing education easy and accessible.

🔗 Apply today at https://shikshavahini.com/apply-for-loan and take the first step toward your academic future—without financial stress!