Complete Guide to PNB Education Loan in 2025: Key Features, Interest Rates & Benefits

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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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.

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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
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

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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.

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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.

PNB Saraswati Education Loan (Higher Studies in India)

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

PNB Pratibha Education Loan (For Premier Indian Institutes)

Designed for students selected into India’s top institutions, offering better interest rates and higher loan limits due to stronger placement outcomes.

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

PNB Udaan Education Loan (For Studies Abroad & Top Indian Institutions)

Ideal for students pursuing education overseas or at top Indian colleges. Approved abroad institutions enjoy faster approvals.

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

PNB Kaushal Education Loan (Skill Development & Vocational Courses)

Created for students pursuing ITI, vocational, and skill-based training.

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

PNB Honhaar Education Loan (For Delhi Students)

Dedicated to Delhi-based students pursuing higher education.

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

PNB Pravasi Shiksha Loan (For Children of NRIs Studying in Delhi)

Supports NRI families whose children study in recognised Delhi 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 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.

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.

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.

Application Form

• Duly filled and signed loan application form
• Two recent passport-size photographs

Applicant Documents (Student)

Identity Proof: PAN, Aadhaar, Passport (mandatory for abroad studies)
Address Proof: Aadhaar, Voter ID, recent utility bills, or bank statements
Age Proof: Birth certificate or Class 10 certificate

Co-Applicant Documents

Co-applicant is usually a parent/guardian. Requirements differ based on their income type.

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

Academic Documents

• Marksheets: Class 10, 12, and graduation (if applicable)
• Admission letter with course details
• Detailed fee structure from the institution
• Entrance exam scores: GRE, GMAT, IELTS, TOEFL, etc. (if applicable)

Financial & Supporting Documents

• Co-applicant income proof (as per salaried/self-employed category)
• 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.

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‍Get 40 Lacs No Collateral Education Loan

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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.

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

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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)

Apply Offline (PNB Branch)

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.

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:

Choose the Right PNB Scheme

Match your course and institute with the most suitable option: PNB Saraswati, Pratibha, Udaan, etc.

Keep Your Documents Ready

Organise academic, financial, and ID documents beforehand to avoid delays. Respond quickly if the bank asks for additional paperwork.

Track Your Application Status

Use PNB’s online tracking feature to monitor approvals, updates, and any pending requirements.

Stay Connected With Your Branch

Maintain regular communication with your loan officer and provide accurate details for faster processing.

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.

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Focus on your studies, let Propelld take care of the finances.

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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: Rates, Features, and Benefits Overview

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