Education and Career Forum

Hello, I am interested to apply for an education loan in Punjab National Bank for studying MBA course in Abroad. After searching alot I didn’t understood about Collateral Security. Can I know about this Collateral Security of Education Loan in Punjab National Bank?

Punjab National Bank does offer PNB Udaan Education Loan scheme*for students pursuing higher education abroad. For the loan upto Rs. 4 lacs parents and guardians have to be the joint borrower’s of the loan.

For the loans above Rs.4.0 lacs and upto Rs.7.5 lacs the parents has to be the joint borrower. No tangible security and/or third party guarantee is needed.

For the loans above Rs. 7.5 lacs parents/guardians have to be the joint borrower with a tangible collateral security of suitable value acceptable to bank and also the future income has to be assigned for the repayment of the loan installments.

You can get more details on the below mentioned website link.
https://www.pnbindia.in/pnb-udaan.html