Education and Career Forum

I want to apply for PNB Pratibha Education Loan Scheme of Punjab National Bank. It is a good initiative taken by PNB for students in India. But, I want to know about the interest rates in this scheme of education loan. Please tell me asap.

Interest rates under PNB Pratibha Education Loan scheme are mentioned below:-

—> For candidates who have secured admission to IITs, IIMs, XLRI Jamshedpur and NITs :-
Loans up to Rs. 7.5 lakhs :- MCLR + 0.50%
Loans above Rs. 7.5 lakhs :- MCLR

—> For candidates who have secured admission to other than IITs, IIMs, XLRI Jamshedpur and NITs :-
Loans up to Rs. 7.5 lakhs :- MCLR + 0.60%
Loans above Rs. 7.5 lakhs :- MCLR + 0.10%

Originally Posted by Unregistered

I want to apply for PNB Pratibha Education Loan Scheme of Punjab National Bank. It is a good initiative taken by PNB for students in India. But, I want to know about the interest rates in this scheme of education loan. Please tell me asap.

Interest rates under PNB Pratibha education loan scheme are given below:

Students admitted in IITs, IIMs, XLRI Jamshedpur and NITs:

Loans up to Rs 7.5 Lakhs – MCLR + 0.50%
Loans above Rs 7.5 Lakhs – MCLR

Students admitted to other than IITs, IIMs, XLRI Jamshedpur and NITs:

Loans up to Rs 7.5 Lakhs – MCLR + 0.60%
Loans above Rs 7.5 Lakhs – MCLR + 0.10%

One year MCLR in PNB – 8.50% (at present)

Students can find the interest rates details in the website link given Click Here

Under PNB Pratibha Education loan scheme, you can get loan amount between 7.5 lacs and 15 lacs. The interest rates are given as follows.

- For tenure of 3 years & more: BR + 1.50% + Term Premium

- Less than 3 years: BR + 1.50%

BR is Base Rate and it is decided by RBI from time to time.

Interest rates under PNB Pratibha Education Loan Scheme are as follows

For admission to IITs, IIMs, XLRI Jamshedpur and NITs:
Loan upto Rs. 7.5 lacs: MCLR + 0.50%

For admission to other than IITs, IIMs, XLRI Jamshedpur and NITs:
Loan upto Rs. 7.5 lacs: MCLR + 0.60%
Loan above Rs. 7.5 lacs: MCLR + 0.10%

For more details visit:
https://www.pnbindia.in/interst-rate...#educationloan