Education and Career Forum

Hello everyone, I came to know that Punjab National Bank provides education loan for vocational courses. I really don’t know about this education loan scheme. Can anyone of you let me know about this scheme?

Originally Posted by Unregistered

Hello everyone, I came to know that Punjab National Bank provides education loan for vocational courses. I really don’t know about this education loan scheme. Can anyone of you let me know about this scheme?

Punjab National Bank offer education loan in the name of “PNB Kaushal” for the students pursuing vocational courses. Students who got admission in Industrial Training Institutes (ITI), Polytechnics or a school recognized by State or Central education boards or in a college affiliated to recognized university, training partners to National Skill Development Corporation / Sector Skill Councils, State Skill Corporation, are eligible to apply for the PNB Kaushal education loan. Students can get up to Rs 1,50,000 under PNB Kaushal. The PNB Kaushal website link is given Click Here

You can apply for PNB Kaushal, if you are looking to pursue a vocational or skill based course. The maximum amount of loan offered under this scheme is 1.5 lacs.

The interest rate offered by PNB for this scheme is, Base rate + 2%, with no processing charges.

The Punjab National Bank offers an education loan for pursuing Vocational courses under the name of PNB Kaushal. Details of PNB Kaushal Education Loan are mentioned below :-

--> Quantum of Finance :-
Minimum :- Rs. 5000/-
Maximum :- Rs. 150000/-

--> Margin :- NIL

--> Security :- Parents/ guardians as joint-borrowers.

--> Prepayment charges :- NIL

Details of Punjab National Bank Education Loan Scheme for Vocational courses are mentioned below :-

--> PNB Kaushal scheme is intended to offer an education loans for candidates who secured admission in Vocational courses.

=> Eligibility :-
You should have secured admission in a recognised Vocational trianing institute.

=> Security :-
No third-party guarantee or collateral security is required.
Parents/ guardians to be joint borrower.

=> Margin :- Nil

=> Repayment :-
For loans upto Rs. 50000/- :- upto 3 years
For loans above 50K and upto Rs. 1 lakh :- upto 5 years
For loans above Rs. 1 lakh :- upto 7 years

=> Repayment Holiday :-
For courses of duration less upto 1 year :- 6 months from the completion of the course.

For courses of duration above 1 year :- 12 months from the completion of the course.