PNB Education Loan

Let educational loans take away your financial worries with the help of PNB educational loans. The cost involved in pursuing higher education is often a worrying situation for many students and can often be a hindrance towards pursuing that dream. Fulfill your dreams with the help of education loans and repay once you have completed your course.

One of the oldest and largest public sector banks in India, Punjab National Bank has been in the service of its customers since it was established in 1894. Punjab National Bank offers multiple loan schemes such as PNB Udaan, PNB Kaamgar, PNB Pratibha and PNB Saraswati.

Features of PNB Education Loan

  • PNB Saraswati loan – Get loan upto Rs. 10 lakhs in this scheme. Repay loan upto Rs. 7.5 lakhs upto 10 years and loans above Rs. 7.50 lakhs for a maximum of upto 15 years. Repay either after one year of course duration or 6 months after you get a job (whichever is earlier). There is no margin for loans upto Rs. 4 lakh. But for loans above Rs. 4 lakhs, a margin of 5% is applicable. While there is no security required for loans upto Rs. 4 lakh, loans above Rs. 4 lakh upto Rs. 7.5 lakhs require security and co-borrowers.
  • PNB Kaamgar – This loan is applicable for individuals after they complete their class 10th study and want to pursue an employment course offered by a recognized institute. The loan amount is offered as per the loan term. For courses upto 3 months, you can get upto Rs. 20,000. For courses above 3 to 6 months, you can get upto Rs. 50,000. For courses above 6 to 1 year, you can get upto Rs. 75,000. For courses over 1 year, get loan upto Rs. 1.5 lakhs. There is zero processing fees charged by the bank for this loan or any margin applicable. There is no such collateral or security required except the parents/guardians being co-borrowers of the loan.
  • PNB Pratibha–This loan is offered to students who wish to pursue higher education at India’s premier institutes such as IITs, IIMs, NITs, etc. Get loan from Rs. 7.50 lakhs to Rs. 15 lakhs with interest rates that are dependent on the repayment tenure. For loans less than three years, get an interest rate of around 11.50% per annum. For loans over 3 years, get an interest rate of 11.50% + term premium. There is no margin applicable if loan is upto Rs. 4 lakh. For loan amount over Rs. 4 lakhs, a 5% margin exists. This loan simply needs parents or guardians as co-borrowers, there is no security required to pay this loan.
  • PNB Udaan – This loan product from PNB bank is applicable on loans for foreign studies.

Eligibility & Documents required to avail PNB Education Loan


  • The applicant must be an Indian national.
  • A co-applicant is required that can be a parent, guardian, spouse or a parent-in-law for some loan types.

List of Documents Required

  • Admission Letter.
  • Duly filled and signed loan application form.
  • Mark sheets and pass certificates of high school, secondary school and other degree courses.
  • Two recent passport sized photographs of the applicant.
  • Institute fee free-breakup.
  • Proof of age.
  • Proof of Signature.
  • PAN card, Aadhar card of student and guardian.
  • Valid identity proof.
  • Valid address proof.
  • Income documents as requested by the bank.
  • Post dated Cheques, ECS or SI mandate post approval.

PNB Education Loan Interest Rates

Interest rates start from 12% per annum onwards.

Benefits of applying PNB Education Loan at Letzbank

  • Free Benefits – There is no charge to apply for a loan via Letzbank website. In fact, we have made the loan application procedure easier and quicker by collaborating directly with the banks.
  • Advance Part Payment – Enjoy the benefit of an advance part payment when you apply for Avanse education loan directly at Letzbank website.
  • Instant Quotes – gets you instant access to gold loan quotes from a bank of your choice within seconds.
  • Online Form Application –Submit the education loan application from the comfort of your home at website and let us handle the application process for you.
  • Wide Selection of Loans – At Letzbank, we collate loan offerings from all the major banks and present them at one page to you. This is a much hassle free method to make comparisons between loans and make a selection on which loan suits your needs.