Education and Career Forum

Hello Sir,
Can you tell me the Interest rates scheme of Punjab National Bank against an Education Loan for studying in Abroad? Please tell me asap.

The interest rates against an Education Loan in Punjab National Bank for studying in Abroad are :-

--> For Loan upto Rs 4 lac – Base Rate+2%
--> For Loan above Rs 4 lac upto Rs 7.50 lac – Base Rate+3%
--> For Loan above Rs 7.50 lac – Base Rate+2.50%
--> Base Rate+1% to be charged for all loans, irrespective of amount, where 100% tangible collateral security in the shape of IP, enforceable under SARFEASI act, and/or liquid security is available.

The interest rate scheme is given below.

- The interest rate will fluctuate from time to time as per orders from RBI.
- The interest rate usually fluctuates between 13-14.5 percent.
- The interest rate will be computed as simple interest for the entire study period.