Education and Career Forum

Hello, I am preparing for JEE and other BTech entrance exams. My first preference is to get admission in IIT. For this, I have to take an education loan. So, I would like to know about the interest rates of Punjab National Bank for applying an education loan?

Originally Posted by Unregistered

Hello, I am preparing for JEE and other BTech entrance exams. My first preference is to get admission in IIT. For this, I have to take an education loan. So, I would like to know about the interest rates of Punjab National Bank for applying an education loan?

Interest rates under PNB Pratibha (education loan for premier institutes in India) to study BTech in IIT are given below:

For education loans up to Rs 7.50 Lakhs – 8.90%

For education loans above Rs 7.50 Lakhs – 8.40%

Students can find the details in the PNB Pratibha website link given Click Here

You will be eligible for PNB Saraswati education loan scheme, if you secure admission at IIT for B.Tech course. The interest rates offered by the bank are given below:

1. For loan up to 4 lacs: Base rate + 2%

2. For loan between 4 lacs and 7.5 lacs: Base rate + 3%

3. For loan above 7.5 lacs: Base rate + 2.5%

Interest rates of Punjab National Bank education loan for pursuing B.Tech course in IIT are mentioned below :-

--> Loan upto Rs. 7.5 lakhs :- MCLR + 0.50%
--> Loan above Rs. 7.5 lakhs :: MCLR.

To be eligible to apply for an education loan in Punjab National Bank, you should have secured admission to any approved course in a recognised college/ university through entrance examination or merit based selection process.

Interest rate details of Punjab National Bank Education Loan for pursuing B.Tech in IIT are :-

=> Loans upto Rs. 7.5 lakhs :- MCLR + 0.50% per annum
=> Loans above Rs. 7.5 lakhs :- MCLR per annum.