PNB Education Loan

Looking for financial support to pursue higher education? Punjab National Bank (PNB) offers a variety of education loans with flexible repayment options, competitive interest rates, and schemes tailored for different needs.

These loans support a wide range of courses in India and abroad, covering tuition fees, living expenses, and more. Whether it's undergraduate, postgraduate, or professional studies, PNB helps make higher education more affordable.

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Let's go through the blog to get details on:

How to apply for a PNB education loan step by step.
Key features like interest rates, college list, and various loan schemes for India and abroad studies.
How to use the PNB education loan interest calculator to estimate your repayment.

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PNB Education Loan Overview

Punjab National Bank offers multiple education loan schemes for students planning to study in India or abroad. Depending on the scheme, the interest rates may be fixed or floating. For loan amounts above ₹4 lakhs, a margin of up to 15% is applicable.

Here’s a simplified breakdown:

Particulars	Details
Loan Amount	No upper limit; based on fee structure or collateral value
Interest Rate	Floating: 9.25% – 11.25% Fixed: 10.25% – 12.75%
Margin	Up to ₹4 Lakhs – Nil Above ₹4 Lakhs – 15%
Processing Fees	₹450 + GST (Documentation) ₹250 + GST (Security verification)
Moratorium Period	Course duration + 1 year
Repayment Tenure	Up to 15 years
Prepayment Charges	None
Collateral Requirement	Not required for loans up to ₹7.5 Lakhs Mandatory for higher amounts (can be tangible or intangible assets)
Other Benefits	Scholarships and assistantships are considered; interest charged based on disbursement or yearly basis

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PNB Education Loan Interest Rates

The interest rates for PNB education loan schemes vary depending on the loan type and the applicant’s academic background. Below is the interest rate range for each scheme in 2025:

PNB Education Loan Scheme	Interest Rates (per annum)
PNB Saraswati	10.00% – 10.75%
PNB Pratibha	8.20% – 10.50%
PNB Udaan	10.00% – 11.25%
PNB Kaushal	10.25% – 10.75%
PNB Honhaar	11.25%
PNB Pravasi Shiksha Loan	11.25%
PNB PM CARES Education Loan Scheme	9.50% – 10.00%

PNB Education Loan Schemes

Punjab National Bank offers various education loan schemes designed to meet the needs of students pursuing different courses across India and abroad. These schemes come with tailored features, interest rates, and eligibility criteria—ensuring a suitable financing option for each academic pursuit.

Let’s explore the major highlights of each education loan scheme offered by Punjab National Bank:

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PNB Saraswati Education Loan

If you’re planning to pursue a higher education program in India, the PNB Saraswati scheme might be the right choice. Here’s what it offers:

Particulars	Details
Interest Rate	11.25% p.a.
Processing Fee	Nil
Collateral	Up to Rs.7.50 lakhs: Guardian or parent as a joint borrower
Collateral	Above Rs.7.50 lakhs: Parent or guardian as joint borrower, along with tangible collateral security of appropriate value.
Loan Tenure	Up to 15 years
Eligibility	Indian citizen; admission via merit/entrance test at a recognized institute

PNB Pratibha Education Loan

Targeted at students joining top-tier Indian institutes, the PNB Pratibha scheme is all about rewarding academic excellence. Take a look at its key highlights:

Particulars	Details
Interest Rate	10.50% p.a.
Processing Fee	Nil
Collateral	Co-borrower required (parent or guardian)
Loan Tenure	Up to 15 years
Eligibility	Indian citizen Admitted to premier Indian institutes (as per PNB list) Also covers IIM part-time & ISB executive programs

PNB Udaan Education Loan

Planning to study abroad or at a top institution in India? The PNB Udaan loan is designed to support ambitious dreams. Here’s what you need to know:

Particulars	Details
Interest Rate	Up to 11.25% p.a.
Processing Fee	1% of loan amount (min ₹10,000), refundable after first disbursement
Collateral	Up to ₹7.5 Lakhs: Parent or guardian as joint borrower Above ₹7.5 Lakhs: Joint borrower + tangible collateral
Loan Tenure	Up to 15 years
Eligibility	Indian citizen Admission through merit or entrance to recognised institutions in India or abroad

PNB Kaushal Education Loan

If you're looking for financial support for skill development or vocational training, the Kaushal scheme might be just what you need. Here’s a breakdown:

Particulars	Details
Interest Rate	Up to 10.75% p.a.
Processing Fee	Nil
Collateral	Parent or guardian as co-borrower
Loan Tenure	Up to ₹50,000: 3 years ₹50,000–1 Lakh: 5 years Above ₹1 Lakh: 7 years
Eligibility	Indian citizen Admission to ITI, vocational, or skill-based training at recognised institutions

PNB Honhaar Education Loan

Designed especially for students residing in Delhi, the Honhaar scheme supports local talent aiming for higher education. Check out the core details:

Particulars	Details
Interest Rate	11.25% p.a.
Processing Fee	Nil
Collateral	Parent or guardian as co-borrower
Loan Tenure	Up to 15 years
Eligibility	Indian citizen Completed Class 10 & 12 Admitted to degree/diploma/skill courses in Delhi

PNB Pravasi Shiksha Loan

For Indian citizens with NRI parents aiming to study in Delhi, this scheme offers comprehensive support. Explore the scheme’s specifics below:

Particulars	Details
Interest Rate	11.25% p.a.
Processing Fee	Nil
Collateral	Parent or guardian as co-borrower
Loan Tenure	Up to 15 years
Eligibility	Indian citizen Completed Class 10 & 12 Admission to recognised course in Delhi For children of NRIs holding Indian passport

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PNB Saraswati vs PNB Pratibha

Choosing between PNB Saraswati and PNB Pratibha depends on where you’ve secured admission and the kind of support you’re looking for. Here's a side-by-side breakdown of both schemes to help you decide:

Particulars	PNB Saraswati	PNB Pratibha
Purpose	Higher education in India	Admission to premier Indian institutions
Eligibility	Indian citizen, admission through merit or entrance exam (management quota allowed)	Indian citizen, admission to full-time courses in premier institutions
Loan Amount	No fixed cap; depends on course and repayment capacity	₹15–35 lakhs, depending on institution
Margin	0% up to ₹4 lakhs, 15% above ₹4 lakhs	0% for Annexure-I institutes; 0% up to ₹4 lakhs, 5% above ₹4 lakhs for others
Collateral Requirement	Up to ₹7.5 lakhs: None Above ₹7.5 lakhs: Tangible collateral + co-borrower	No tangible collateral for any amount; parent/guardian as co-borrower
Interest Rate	11.25% p.a.	10.50% p.a.
Expenses Covered	Tuition, hostel, books, equipment, travel, insurance, deposits, project costs	Same as Saraswati
Repayment Tenure	Up to 15 years	Up to 15 years
Moratorium Period	Course duration + 1 year	Course duration + 1 year
Prepayment Charges	Nil	Nil

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Punjab National Bank Abroad Education Loan

PNB Udaan is a dedicated education loan scheme for students planning to pursue higher studies abroad. Here's what this study abroad loan scheme has to offer.

1. Eligibility

Indian nationals who have secured admission to recognized foreign institutions through entrance exams or merit-based selection after 10+2.

2. Loan Amount

Need-based finance depending on the course and institute. Reimbursement of fees already paid (within 6 months) may be considered.

3. Expenses Covered

Includes tuition, hostel fees, books, equipment, travel expenses, caution deposits, insurance, and other essential academic costs like projects or study tours.

4. Margin

No margin for loans up to ₹4 lakh.
15% margin for loans above ₹4 lakh.

5. Interest Rate

Starts from 9.00% p.a. (may vary as per latest PNB updates)

6. Collateral

Required for higher loan amounts, based on bank norms.

7. Repayment & Moratorium

Loan tenure: Up to 15 years
Moratorium: Course duration + 1 year

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PNB Education Loan College List

The PNB Education Loan College List includes approved institutions eligible for education loans under PNB schemes like Saraswati and Pratibha. It covers IITs, IIMs, AIIMS, NITs, and other recognized colleges, with loan amounts varying based on the institution and course type.

1. PNB Pratibha

Under the PNB Pratibha scheme, you can get admission into PNB premiere institutions such as the following. ‍

Not just these, the list contains more than 250 colleges. For a comprehensive information, you can download the PNB Pratibha Education Loan College List in pdf.

2. PNB Saraswati Education Loan College List

The PNB Saraswati Education Loan Scheme is designed to provide financial support to meritorious students pursuing higher education in India. Below are the key details of the scheme:

You can download the PNB Saraswathi Education Loan College List PDF here.

3. PNB Education Loan College List Abroad

The PNB Udaan Education Loan Scheme is designed to support students aspiring to study abroad by offering flexible financial assistance with competitive interest rates and repayment options.

Get a summarized version of the key details of the PNB Udaan Education Loan Scheme here

If you're wondering which colleges qualify for education loans, check out our detailed guide on Education Loan Eligibility: Top Lenders & Interest Rates to understand how banks assess applicants

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Documents Required for PNB Bank Education Loan

Ensure you check your eligibility and arrange the following documents for a PNB education loan:

Category	Documents Required
1. Application Form	- Duly filled and signed application form - Two recent passport-size photographs
2. Applicant's Documents	- Identity Proof: PAN Card, Aadhaar Card, Passport (for overseas studies) - Address Proof: Voter ID, Aadhaar Card, utility bills, bank statement - Age Proof: Birth certificate, 10th standard certificate
3. Co-applicant's Documents	If Salaried: - Last 3 months' salary slips - Last 2 years' Form 16 - Latest 6 months' bank statements - Employee ID card - Income Tax Returns of last 2 years If Self-employed: - Business transaction statements for the last year - Profit & Loss account and balance sheet for the last 3 years - Income Tax Returns for the last 3 years - Business address proof
4. Academic Records	- Marksheets of 10th, 12th, and graduation (if applicable) - Admission letter from the educational institution with course details - Fee structure of the course - Scorecards of entrance exams like GMAT, GRE, IELTS, TOEFL (if applicable)
5. Financial Documents	- For Co-applicant: Income proof as mentioned above - Other Documents: - Declaration letter stating coverage of remaining expenses by co-applicant (format provided by bank) - Notarized joint affidavit with student and co-applicant (format provided by bank) - Advance payment receipt to the institution (if available) - Statements of any existing loan accounts - Explanation letter for any gaps in education on Rs.100 stamp paper (if applicable)

Organize these documents to ensure a smooth application process for your PNB education loan.

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No Collateral? No Problem.

Need a loan without risking your property? This guide shows you how to get a loan without collateral.

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PNB Education Loan Interest Calculator

Punjab National Bank (PNB) features an EMI and interest calculator on its official website. If you want to know the exact EMI and interest you will pay, you can visit the official PNB website. Meanwhile, here is a short calculation that will help you determine the PNB education loan interest rate:

Suppose your education loan demand follows as below:

Loan Amount: ₹12 lakh
Interest Rate: 10.5% per year
Paying during the moratorium?: No
Grace Period: 6 months
Tenure: 15 years

Based on this, you will be required to pay:

EMI monthly: ₹13,320
Total Payment (Principal + Interest): ₹23,97,600
Total Interest Payable: ₹11,97,600

Don’t settle for a high rate—find out where to get the lowest interest loans.

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How to Apply for PNB Education Loan?

You can apply for a PNB education loan either online or by visiting a branch.

Application Methods

Online Application
Head to PNB's official website, click on 'PNB WeblenS-Online loan application,' and follow the instructions. You'll need to upload documents, and you can track your application status and receive updates online.
Branch Application
Prefer in-person? Download the education loan form, fill it out, and submit it at your nearest PNB branch.

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You can also track your application anytime using the Vidya Lakshmi Portal with your reference number.

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PNB vs Other Lenders

PNB and Propelld take different approaches to education loans. PNB offers a more traditional setup with broad coverage, while Propelld focuses on a digital-first, streamlined process.

PNB and Propelld Loan Comparison

Feature	PNB Education Loan	Propelld Education Loan
Interest Rates	10.00% - 12.25%	Starting from 12.99%
Maximum Loan Amount	Based on individual need	Up to ₹25 Lacs
Repayment Period	Up to 15 years (with moratorium)	5 years
Collateral Requirement	Required for loans above ₹7.50 lakh	No collateral needed
Processing Time	Standard bank processing	Much faster than traditional banks
Application Process	Online and offline options	Fully digital process
Female Applicant Benefit	0.5% interest rate concession	No specific benefits for women

This table highlights the main differences between the two lenders, but there are additional factors to consider:

Why Choose PNB?

Longer repayment periods, giving you more time to pay back.
Interest rate concessions for female applicants.
Trusted banking infrastructure with years of experience.
Flexible options tailored to varied financial needs.

Why Choose Propelld?

Faster processing times, perfect for urgent needs.
No collateral required, reducing financial barriers.
Completely digital application process for convenience.
Focus on your academic achievements rather than just financial history.

Your choice depends on what matters most to you - PNB is ideal for those seeking lower rates and longer terms, while Propelld is better suited for those prioritizing speed and convenience.

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No Collateral Required. Approval Based on Student Potential. Check Your Eligibility

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Summary

PNB education loans offer tailored solutions through various schemes, designed to meet different educational needs. The bank supports students with competitive interest rates and flexible repayment options.

Key Highlights of PNB Education Loans

PNB's education loan portfolio includes a variety of schemes, each catering to specific educational goals. For instance, the PNB Pratibha scheme offers interest rates starting as low as 8.20%, while programs like PNB PM CARES feature rates between 9.50% and 10.00%.

Here are some standout features of PNB education loans:

Feature	Details
Repayment Period	Flexible, up to 15 years
Interest Rates	Range from 8.20% to 12.75% p.a., depending on the scheme
Female Student Discount	0.50% reduction in interest rates
Processing Fees	Waived for select schemes, such as PNB Kaushal
Comprehensive Coverage	Includes tuition, hostel, books, and equipment

Tips for Applying

Pick the right scheme: Options include PNB Saraswati, Pratibha, Udaan, and others, depending on your course and needs.

Organize your documents: Ensure all required paperwork is ready and respond quickly to any additional requests.

Monitor your application: Use PNB’s online tracking system to stay updated.

Stay connected: Keep in touch with your branch and provide accurate information for a smoother approval process.

PNB education loans are designed to cover a wide range of expenses, making them a reliable option for funding higher education.

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Get a no collateral Education Loan

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Why Propelld?

Propelld offers easy and flexible education loans with quick approval and low interest rates. It provides customised repayment options, making higher education more accessible without financial stress.

The following are the primary benefits of Propelld.

Particulars	Details
Max Loan Amount	50 Lakhs
Collateral	Not Required
Moratorium	Available
Processing Time	10 Times Faster than Banks
Disbursal Time	7 Days
Approval Rate	Higher than Other Banks
Special USP	Marks Based Approval
% Financed	100% of Fees

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FAQs About PNB Education Loan

How can I get an education loan from PNB?

Visit the official PNB education loan page or apply via the Vidya Lakshmi Portal. You can also visit your nearest branch with the required documents.

Which PNB education loan is best?

PNB Saraswati and PNB Udaan are popular choices. Saraswati is for domestic studies, while Udaan is ideal for studying abroad.

Is PNB education loan available for study abroad?

Yes, PNB offers the PNB Udaan scheme for students pursuing higher education abroad in recognized institutions.

Can I get a PNB education loan for MBA?

Yes, MBA programs from recognized institutions in India or abroad are eligible under both PNB Saraswati and Udaan schemes.

Does PNB provide education loans for IIM students?

Yes, IIMs are top-tier institutions, and students enrolled in IIMs can get up to ₹40–50 lakh with or without collateral, based on the scheme.

Does PNB offer education loans without collateral?

Yes, PNB provides unsecured education loans up to ₹7.5 lakh. Higher amounts may need collateral, depending on the course and institute.

What are the terms and conditions of a PNB education loan?

Terms include loan margin (5–15%), repayment after moratorium, interest rates starting from 9.40% p.a., and course-specific limits.

How to apply for a PNB education loan online?

Go to the PNB WebLenS portal, fill in the form, upload documents, and submit your application.

Where can I get the PNB education loan application form?

You can download the form from the PNB website or collect it from your nearest branch.

Does PNB have a separate loan scheme for girls?

Yes, girl students may get preferential interest rates (up to 0.50% concession) under certain schemes like Saraswati.

What is the maximum loan amount PNB offers?

PNB offers education loans up to ₹50 lakh for premier institutions or studies abroad under specific schemes like Udaan.

Can I use the PNB education loan calculator?

Yes, use the PNB Education Loan EMI Calculator available on the bank’s official site to estimate monthly repayments.

How to check PNB education loan status?

Track your loan status via the WebLenS portal or contact your branch with your application reference number.

What is the moratorium period for PNB education loans?

PNB provides a moratorium period of course duration + 1 year or 6 months after getting a job, whichever is earlier.

What is the interest rate for PNB education loans in 2024?

Interest rates start at 9.40% p.a. for male students and go lower for girl students and premier institute admissions.

What documents are required for a PNB education loan?

You need ID/address proof, income proof of co-applicant, admission proof, fee structure, academic records, and loan application form.

Is there a PNB college list for education loans?

Yes, PNB has a list of approved colleges and premier institutions eligible for higher loan limits and relaxed terms.

Can I apply for a PNB education loan through Vidya Lakshmi?

Yes, PNB accepts education loan applications via the Vidya Lakshmi Portal.

What is the maximum loan amount I can get from PNB for studying abroad?

PNB offers need-based finance for studying abroad under the PNB Udaan scheme. The loan amount depends on the applicant's course requirements and repayment capacity.

Is there a margin requirement for PNB education loans?

Yes, for loans above ₹4 lakh, a margin of 5% is required for studies in India and 15% for studies abroad. Scholarships or assistantships can be considered in the margin.

Who can be a co-applicant for a PNB education loan?

Parents, grandparents, spouses, or parents-in-law can act as co-applicants for the loan.

What expenses are covered under PNB education loans?

The loan covers tuition fees, accommodation charges, exam fees, library and lab fees, purchase of books, equipment, travel expenses, and other necessary educational costs.

Is there a processing fee for PNB education loans?

PNB does not charge any processing fee for education loans.

Can I prepay my PNB education loan? Are there any charges?

Yes, you can prepay your education loan anytime. There are no prepayment charges.

What is the repayment tenure for PNB education loans?

The repayment period can extend up to 15 years after the course and moratorium period.

When does the repayment of the PNB education loan commence?

Repayment begins after the course duration plus a moratorium period of one year or six months after getting a job, whichever is earlier.

Can I get a PNB education loan without collateral?

Yes, PNB offers education loans without collateral under schemes like PNB Saraswati for loans up to ₹7.5 lakh. For higher amounts without collateral, you may qualify under specific merit-based or institutional tie-up criteria.

Is collateral required for PNB education loans?

For loans up to ₹7.5 lakh, no collateral is required if parents or guardians are co-borrowers. For loans above ₹7.5 lakh, tangible collateral is required.

Are there any interest rate concessions for female students?

Yes, female students get a 0.50% interest rate concession on education loans.

How is the interest charged during the moratorium period?

Simple interest is charged during the moratorium period, which is added to the principal before EMI calculation starts.

What is the process for loan disbursement?

The loan amount is disbursed directly to the educational institution or relevant vendor in stages, as per requirement.

Can I avail of a top-up loan if I pursue further studies?

Yes, you can apply for a top-up loan if you decide to continue your studies or pursue a higher degree.

PNB Education Loan: Interest Rate, Features, and Benefits

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