Education Loan in Punjab National Bank

Punjab National Bank

Education loan amount size:

For the students studying in India , maximum amount of upto Rs.10,00,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.

Advance amount to be paid:

Nothing till 4,00,000 Rs.

More than Rs.4,00,000 : Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.

Interest rate:

Upto Rs.4,00,000 : B.P.L.R + Term Premium – 1.00%

More than 4,00,000 Rs: B.P.L.R + Term Premium – 0.50%

Way of repaying the loan:

One year after finishing the studies or right from 6^th month after joining the job the repayment process is to be started. The loan is to be closed within 5 to 7 years.

Warranty:

Upto rs.4,00,000: No property guarantor is required.

From 4,00,000 Rs. till 7,50,000 Rs.: Third party’s guarantee is required.

More than 7,50,000 Rs: Parents , student or the third party’s assurance on the repayment of loan is required.

Education Loan in Punjab and Sind Bank

Punjab and sind bank

Education loan amount size

On the basis of students repaying the parents loan , the loan is provided.

For the students studying in India maximum amount of upto Rs.7,50,000 will be provided.

For the students studying in abroad , maximum amount of upto  Rs.15,00,000 will be provided.

Advance amount to be paid:

Nothing till 4,00,000 Rs.

More than 4,00,000 Rs – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.

Interest rate:

Till 4,00,000 Rs.

Bank employee: B.B.L.R – 1.00%

Other public: B.B.L.R – 2.00%

More than 4,00,000 Rs.

Bank employee: P.L.R – 0.50%

Other public:B.B.L.R – 1.50%

Way of repaying the loan:

One year after finishing the loan or right from 6^th month after joining the job the repayment process is to be started..

Warranty:

No Property guarantor is required till 4,00,000 rs.

From 4,00,000 till 7,50,000 Rs. – Third party’s guarantee is required.

More than 7,50,000 Rs. – parents, student or the third party’s agreeing letter is required assuring the repayment of loan.

Education Loan in Oriental Bank of Commerce

Oriental Bank of commerce

Education loan amount size

For the students studying in India, maximum amount of upto Rs.10,00,000 will be provided.

For the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.

Advance amount to be paid:

Nothing till Rs.4,00,000

More than Rs.4,00,000 – Students studying in india should pay 5% of the amount and students studying in abroad should pay 15% of the amount.

Interest rate:

Upto Rs.4,00,000 : BR + 2.75%

More than Rs.4,00,000 : BR + 3.50%

For girls , students from SC , ST categories and for the disables 0.50% special previliages will be provided.

Way of repaying the loan:

One year after finishing the studies or right from 6^th month after joining the job , the repayment of the loan is to be started. The loan amount should be repayed in 84 month instalments.

Warranty:

No property guarantor is required till 4,00,000 Rs.

From 4,00,000 Rs. till Rs.7,50,000 Rs : Third party’s guarantee is required.

More than 7,50,000 rs. : Parents , student or the third party’s agreeing letter assuring the repayment of loan is required.