pnbindia.com ‘PNB HONHAAR’ Education Loan Scheme For Pursuing Higher Education & Skill Development Courses in Delhi : Punjab National Bank

Organization : Punjab National Bank
Scheme Name : ‘PNB HONHAAR’ Education Loan Scheme for pursuing Higher Education & Skill Development courses in Delhi
Applicable For : Students who have done their Class-X & Class –XII from Delhi
Applicable State : Delhi

Website : https://www.pnbindia.in/
Scheme Details:  https://www.scholarships.net.in/uploads/3728-Scheme.pdf

‘PNB HONHAAR’ Education Loan Scheme for pursuing Higher Education and Skill Development courses in Delhi:
Objective :
The Scheme aims at providing financial support for pursuing higher education in Delhi

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Purpose :
** Fee payable to college/ school/ hostel
** Examination/ Library/ Laboratory fee
** Insurance premium for student borrower
** Caution deposit, Building fund / refundable deposit supported by Institution bills/receipts
** Purchase of books/ equipment / instruments / uniforms
** Purchase of computer at reasonable cost, if required for completion of the course
** Any other expense required to complete the course – like study tours, project work, thesis, etc
** While computing the loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account.
** If the scholarship component is included in the loan assessment, it may be ensured that the scholarship amount gets credited to the loan account when received from the Government.

Eligibility :
** Should be an Indian national.
** Students who wish to pursue diploma or degree or specified skill development courses in Delhi and have done their Class-X and Class –XII from Delhi are eligible under this Scheme
** The student should have secured admission to a higher education course or specified Skill development courses (diploma or degree including bachelors, Masters and Doctoral Degree) in recognized institutions in Delhi through Entrance Test/ Merit Based Selection process after completion of Secondary Examination/ Senior Secondary Examination/ required qualifying examination.

Quantum of Finance :
Need Based finance to meet expenses on course subject to Max Rs 10.00 lacs

Margin: NIL
Rate of Interest :Base rate + 2%. Simple interest be charged during the Repayment holiday/ Moratorium Period

Processing Charges/ Upfront fee:Nil
Documentation Charges: Rs.270/- upto Rs. 4 lac Rs.450/- above Rs.4.00 lac – excl of service tax and education cess).
Security: Parent(s)/guardian as joint borrower.

Repayment (Maximum): Max 15 years
Repayment Holiday/ Moratorium :Course period + 1 year
Prepayment Charges :NIL

Above are only salient features of the scheme. For details please contact nearest branch