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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.
Key Takeaways
- PNB offers multiple education loan schemes—Saraswati, Pratibha, Udaan, Kaushal, Honhaar, and Pravasi Shiksha—each tailored for different student types.
- Interest rates range from 8.20% to 12.75%, with benefits such as a 0.50% concession for female students and no processing fees for many schemes.
- Loan amounts have no fixed upper limit, but collateral is required above ₹7.5 lakh (except under Pratibha).
- PNB’s approved college lists influence interest rates, margin money requirements, and sanction speed.
- Students can apply online via WebLenS or at a branch, while Propelld offers a faster, fully digital, no-collateral alternative for up to ₹50 lakhs.
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 |
|
Female Student Discount |
50% reduction in interest rates |
|
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 |
Get your Loan Disbursed 10 times Faster than Banks. Apply Now.
PNB Education Loan Interest Rates
Punjab National Bank (PNB) offers multiple education loan schemes, and each comes with its own interest rate range based on the student’s academic profile and the loan category. Below is the updated PNB education loan interest rate chart for 2025, designed to help students compare options easily.
|
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% |
To know how APR and interest rates work, do check out our Interest rates policy.
PNB Education Loan Eligibility
Before diving into various schemes and scheme-wise criteria, it’s important to understand the general PNB education loan eligibility that applies across most PNB loan products.
While each PNB scheme Saraswati, Udaan, Pratibha, Kaushal has its own specific norms, the bank follows some baseline eligibility rules for all student borrowers.
Here are the basic eligibility criteria:
- Applicants must be Indian citizens
- They must have secured admission to a recognized institution in India or abroad, usually through merit, entrance tests, or standardized exams.
- A co-borrower (parent or guardian) is compulsory for all loans
- The student’s academic record plays a major role in loan approval, interest rate assignment, and unsecured loan eligibility.
This basic eligibility sets the detailed scheme-wise criteria that follow.
PNB Education Loan Schemes
Punjab National Bank offers several education loan schemes designed for students pursuing higher studies in India and abroad. Each scheme caters to different student profiles: academic achievers, skill-development applicants, international aspirants, and Delhi-based students.
Below is a quick overview of all major PNB education loan schemes with their latest features.
Best for: Students pursuing undergraduate or postgraduate courses within India.
Key Features:
• Interest Rate: 11.25% p.a.
• Processing Fee: Nil
• Collateral:
– Up to ₹7.5 lakh: Parent/guardian as co-borrower
– Above ₹7.5 lakh: Co-borrower + tangible collateral
• Loan Tenure: Up to 15 years
• Eligibility: Indian citizen; merit/entrance-based admission to a recognised institution
Key Features:
• Interest Rate: 10.50% p.a.
• Processing Fee: Nil
• Collateral: Parent/guardian as co-borrower
• Loan Tenure: Up to 15 years
• Eligibility:
– Admission to premier institutions as per PNB list
– Includes IIM part-time & ISB executive programs
Key Features:
• Interest Rate: Up to 11.25% p.a.
• Processing Fee: 1% of loan amount (min ₹10,000, refundable post first disbursement)
• Collateral:
– Up to ₹7.5 lakh: Parent/guardian as joint borrower
– Above ₹7.5 lakh: Joint borrower + collateral
• Loan Tenure: Up to 15 years
• Eligibility: Merit/entrance-based admission in India or abroad
Key Features:
• Interest Rate: Up to 10.75% p.a.
• Processing Fee: Nil
• Collateral: Parent/guardian as co-borrower
• Loan Tenure:
– Up to ₹50,000 → 3 years
– ₹50,000–1 lakh → 5 years
– Above ₹1 lakh → 7 years
• Eligibility: Admission to recognised ITI/vocational institutions
Key Features:
• Interest Rate: 11.25% p.a.
• Processing Fee: Nil
• Collateral: Parent/guardian as co-borrower
• Loan Tenure: Up to 15 years
• Eligibility:
– Indian citizen
– Completed Class 10 & 12
– Admission to degree/diploma courses in Delhi
Key Features:
• Interest Rate: 11.25% p.a.
• Processing Fee: Nil
• Collateral: Parent/guardian as co-borrower
• Loan Tenure: Up to 15 years
• Eligibility:
– Indian citizen with NRI parent(s)
– Completed Class 10 & 12
– Admission to recognised Delhi-based course
These schemes differ mainly in interest rates, collateral norms, and eligible institutions. Choosing the right one reduces future repayment stress.
Before applying, you must confirm whether your institute qualifies for scheme-specific loan terms. Check out the college lists next.
Also, do check how Moratorium and repayment works so that you can compare your options better.
People Also Ask
Which PNB scheme offers the lowest interest rate?
PNB Pratibha generally offers the lowest starting rate because it is meant for premier-institute admissions with lower credit risk.
Can I switch from Saraswati to Pratibha if I get upgraded to a premier college?
Yes. If your admission category changes and the institute qualifies under Pratibha’s list, you can request a scheme conversion at the branch.
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.
You can check the various lists and also download the comprehensive PDFs from our blog on PNB Education Loan College List.
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.
People Also Ask
What if my college is not on the PNB approved list?
You can still apply under Saraswati or Udaan, but interest rates may be higher and collateral may be mandatory.
How often does PNB update the college list?
Lists are normally reviewed annually based on accreditation, placement quality, and risk assessment.
Documents Required for a PNB Education Loan
To ensure faster approval, keep the following PNB education loan documents ready. The list is structured as per applicant, co-applicant, academics, and financial requirements.
• Two recent passport-size photographs
Address Proof: Aadhaar, Voter ID, recent utility bills, or bank statements
Age Proof: Birth certificate or Class 10 certificate
If Salaried:
• Last 3 months’ salary slips
• Form 16 for previous 2 years
• Bank statements of last 6 months
• Employee ID card
• ITR for the last 2 years
If Self-Employed:
• Business transaction statements (last 12 months)
• Profit & Loss account + Balance Sheet (last 3 years)
• ITR for last 3 years
• Business address proof
• Admission letter with course details
• Detailed fee structure from the institution
• Entrance exam scores: GRE, GMAT, IELTS, TOEFL, etc. (if applicable)
• Declaration for funding remaining expenses (bank format)
• Joint notarised affidavit of student + co-applicant (bank format)
• Fee payment receipts already made (if any)
• Statements of existing loan accounts
• Education gap explanation on ₹100 stamp paper (if applicable)
Once you know your eligible amount, the next step is estimating your EMI.
PNB Education Loan Without Collateral
Punjab National Bank offers multiple education loan schemes, but unsecured (no-collateral) loans are primarily available only up to ₹7.5 lakh. These unsecured loans are offered under schemes like PNB Saraswati, PNB Udaan, and general education loan products. They are ideal for students who may not have property or liquid assets to pledge.
1. Unsecured Loan Limit Under PNB
- Up to ₹7.5 lakh — No collateral needed
- A parent/guardian must be a co-applicant
- Interest rates vary depending on the scheme and course type
- Margin money is typically nil or minimal for smaller loan amounts
2. When Can Students Get Higher Loans Without Collateral?
PNB does not generally offer more than ₹7.5 lakh without security.
However, exceptions exist for select high-merit profiles:
- Students admitted into top-tier institutions may qualify under PNB Pratibha, which sometimes allows enhanced unsecured limits depending on institute ranking.
- For students with outstanding academic performance, the bank may offer slightly higher relaxed limits, but this is rare and based entirely on branch-level risk evaluation.
Still, most borrowers will need collateral for amounts above ₹7.5 lakh.
No Collateral? No Problem.
Need a loan without risking your property? This guide shows you how to get a loan without collateral.
PNB Education Loan Interest Calculator
Understanding your monthly EMI before applying helps you plan your finances better. Punjab National Bank offers an online EMI calculator on its official website where you can check your estimated repayment based on loan amount, interest rate, and tenure.
You can also use the Propelld Education Loan EMI Calculator. It lets you check EMIs instantly without logging in or entering personal details.
Don’t settle for a high interest rate. Always try and find out where to get the lowest interest loans.
Now that you understand the schemes and required documents, here’s how the actual application process works.
You can also track your application anytime using the Vidya Lakshmi Portal with your reference number.
How to Apply for a PNB Education Loan
Punjab National Bank allows students to apply for an education loan through both online and offline channels. Here’s a simplified process explanation to help you choose the best method.
Apply Online (PNB WebLenS Portal)
The fastest way to apply is through the PNB WebLenS - Online Loan Application portal.
You can:
- Fill out the education loan application form
- Upload your documents digitally
- Track your loan status in real time
- Receive SMS/email updates from the bank
Best for: Students who want a quicker, paperless application process.
Apply Offline (Nearest PNB Branch)
If you prefer personal guidance, you can apply at any PNB branch.
Steps include:
- Download or collect the education loan application form
- Fill it out manually
- Submit it along with the required documents at the branch
Best for: Applicants who want in-person assistance or have complex queries.
You can also track your application anytime using the Vidya Lakshmi Portal with your reference number.
PNB vs Propelld
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.
Do check out a comprehensive comparison on our blog on Propelld vs PNB education loan.
PNB vs CBI for Education Loans: Which Is Better?
A user on reddit asked, “I'm planning to pursue my PGDM from MDI Gurgaon this July, and I'd like to take an education loan. Both Punjab National Bank and central bank have similar benefits - same ROI 8.2 No collateral, no foreclosure fees, no processing fee. But on basis of services/your experience with the respective bank which is better than the other?”
To answer this,
Both PNB and Central Bank of India offer 8.2% interest, zero collateral, no processing or foreclosure fees. So the real difference lies in service quality, speed, and how well they handle premier B-school cases like MDI Gurgaon.
Read More
Processing Speed
- PNB: Usually faster for top institutes due to PNB Pratibha.
- CBI: Slower and more branch-dependent.
Branch Experience
- PNB: Metro branches handle many PGDM/PGP loans.
- CBI: Service varies widely.
Disbursal & Documentation
- PNB: Familiar with MDI fee schedules; smoother disbursal.
- CBI: May take longer during admission rush.
So, PNB is generally the better choice for MDI Gurgaon, thanks to faster processing, better digital support, and higher experience with premier-institute education loans.
Tips for Applying for a PNB Education Loan
Make your application faster and smoother with these essential steps:
Getting an education loan from PNB becomes easier when you understand the right scheme, college list, interest rate range, and required documents. Whether you're studying in India or abroad, choosing the correct scheme- Saraswati, Pratibha, Udaan, or others can significantly reduce your repayment burden.
If you want a faster, simpler alternative without collateral requirements, Propelld can help. With a 100% digital process, higher approval rates, and flexible repayment options, Propelld is designed specifically for students who want convenience without compromising on support.
