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.
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 6th month after joining the job the repayment process is to be started. The loan is to be closed within 5 to 7 years.
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.