Education Loan Scheme - PNB Kaushal

Purpose

Tuition/ course fee.

Examination/ Library/ Laboratory fee.

Caution deposit.

Purchase of books, equipments and instruments.

Any other reasonable expenditure found necessary for completion of thecourse.

Eligibility

Should be an Indian national.

Student should have secured admission in a course run by IndustrialTraining Institutes (ITIs), Polytechnics or in a school recognizedby central or State education Boards or in a college affiliated torecognized university, training partners affiliated to National SkillDevelopment Corporation (NSDC)/Sector Skill Councils, State SkillMission, State Skill Corporation, preferably leading to a certificate /diploma / degree issued by such organization as per National SkillQualification Framework (NSQF).

Quantum Of Finance

Need Based finance to meet expenses on course subject to the following ceilings:

Minimum Rs.5000/-

Maximum Rs 1,50,000/-

Margin

Nil

Security

Parent(s)/guardian as joint borrower.No collateral or third party guarantee is required.

Repayment (Maximum)

For Loans upto Rs. 50,000 - Upto 3 years.

For Loans between Rs. 50,000 to Rs. 1 lakh - Upto 5 years

For Loans above Rs. 1 lakh - Upto 7 years

Repayment Holiday/ Moratorium

For courses of duration 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 courses.

Prepayment Charges

NIL

Rate Of Interest

Processing Charges/ Upfront Fee

Documentation Charges