Punjab National Bank is one of the leading nationalized banks in India, which has remained at the forefront of organizing social welfare, particularly agriculture. The education loan provided by the bank is an example of its sincerity to promote social welfare. Therefore, the bank has named its scheme for educational loan as “Saraswati that can help the students in availing educational loans and pursue further study. The PNB is also known for offering wide range of services from it’s PNB Fixed deposit to PNB recurring deposit scheme.  Let’s check the PNB Education loan 2014 scheme details below.


I would recommend you to check other banks education loan and compare, for example, you can check Vijaya Bank education loan interest rate along with BOI education loan interest rate etc.

Highlights of education loan from Punjab National Bank (PNB) 

  • The bank only charges you simple interest during the period of study and moratorium period as well.
  • The women candidates get a rebate of 0.50% for loans of up to Rs 10 lacs and Rs 20 lacs.
  • The bank also considers the provision that a deduction of 1% of interest be given to the students, who have paid all their installments in time during their study and moratorium period.
  • The bank reserves the right to disburse the payment of amount in parts according to the demands made by the educational institutions.
  • The bank also considers you eligible if you need the education loan for the second  time for studying higher courses.

Criteria for eligibility 

  1. As the first norm in eligibility, you have to be an Indian citizen.
  2. You need to have qualified for the admission in a course in one recognized institution through merit only by appearing at the entrance examination.

Documents or proofs needed for securing admission

The following things are necessary as paraphernalia, while you apply for a loan in the Punjab National Bank.

i)  Application for study loan can only done only in the prescribed application form by the bank.

ii) You need to submit passport sized photographs along with the application form.

iii) Address proof and age and clearance of the last qualifying examination must be attached along with the application.

iv) You need to attach the letter of admission from the institution, where you are going to study.

v) You need to attach the prospectus of the institute, where you are going to study with the detailed mention of prescribed fees.

vi) You need to produce details of assets and liabilities of your parents.

vii) In case you need to secure loan by producing collateral security then you have to attach the copy of that.

viii) Your photo copies of Visa and passport need to be attached with the application form, when you go abroad to study.

Rates of applicable interest

The PNB Bank education loan interest rate is mentioned below and available with 2 systems i.e. BPLR and Base rate. You can also go to this page  to get more detail, which is necessary to avail the education loan.

PNB Bank interest rate chart for education loan