Punjab National Bank Education Loan

Processing Fee :

For Study in India - Nil

For studies abrod: 1% with a maximum of Rs.10000/-(refundable on availment of the loan amount)

Documentation Charges: Rs.270/- + Service Tax & Education Cess

Above Rs.4 lacs: Rs.450/- + Service Tax & Education Cess

Documents for furnishing Security

The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares/ Mutual Funds/ Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.

The document should be executed by both the student and the parent/guardian.

Upto Rs.4.00 lacs: Co-Obligation of Parents. No Security.

Above Rs 4.00 lacs and Upto Rs 7.5 lacs: Co-Obligation of Parents. 3rd party guarantee acceptable to the Bank.

Above Rs 7.5 lacs: Co-Obligation of Parents.

Collateral Security of suitable value along with Assignment of future income of the student for payment of installments.

The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares/ Mutual Funds/ Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.