Education Loan offered by Delhi Govt.

Info about Education loan by Punjab National bank under State govt.

Loan Amount:
Upto 20,00,000/- for admission in foreign universities
Upto 10,00,000/- for admission in Indian Colleges

Interest Rate:
Rs 4.00 Lacs – 12%
Rs 4.00-7.50  Lacs – 13%
Above 7.50 Lacs – 11%
For Premier Institutes – 10%

Up to 4 Lacs –  NIL
Above 4 Lac :
For Studies in India : 5%
For Studies Abroad : 15%

Repayment Period:
Course Period +1 Year or 6 months after getting Job, whichever is earlier

Processing Fees:
in case of course in India
Upfront charge of 1% (min Rs 10000/-) for loans for study abroad and refundable after availment of Loan

Document Charges:
Loan upto 4lac – Rs 270/- + Service tax & education css extra
Above 4 lac – Rs 450/-  + Service tax & education css extra

Eligible Person:

  • Should be an Indian national
  • Should have secured admission to professional/technical courses in india or abroad through entrance test / merit bases selection process
  • No Minimum or maximum age restriction

Expenditure covered:

  • Fee payable to college/School/Hostel/Examination/Library/Laboratory Fee
  • Purchase of Books/Uniform/equipment/Computer/other essential
  • Travel expenses/ passage money for study abroad
  • Insurance Premium for student borrower
  • Any other expense required complete the course like study tours, project work etc

No Deserving Student should be denied an opportunity to purse higher education for want of financial support in line with the policy of govt. of India.


  • Up to 4 lac : Co-obligation of Parents. No Security
  • More then 4 lac upto 7.5lac : Co-obligation of Parents together with 3rd party guarantee
  • Above 7.5 Lac : Co-obligation of parents together with tangible coil . Security of suitable value

Prepayment Charge: 
No Part/Full Prepayment of foreclosure charges if repaid from own resources

Insurance : very attractive life cum loan from PNB METLIFE insurance

PNB’s Commitment:

  • Turn – Around time of 7 working days from completiton of formalities
  • Interest on reducing balance
  • No Pre payment of foreclosure charges if repaid from own sources
  • No hidden cost
  • Longest repayment period upto 15 years

Documents Required:

  1. Loan Application with passport size photograph of borrowers and guarantor
  2. Proof of age
  3. Residence proof of all the borrowers and guarantors
  4. PAN no. of student, all the co-borrowers and guarantors with 3 year ITR and latest salary slip
  5. Proof having passed the last qualifying examination
  6. Photocopy of Passport and Visa in case of study abroad
  7. Letter of admission in professional, technical or vocational courses
  8. Prospectus of the course wherein charge like Admission Fee, Exam. Fees, Hostel Charges etc. are mentioned
  9. Documentary Evidence of the assets and liabilities of the Borrowers and Guarantors
  10. In Case, Loan is to be collaterally secured by mortgage if IP, copy of title needed, valuation certificate and Non-encumbrance certificate from approved lawyer of the bank to be obtained at the cost of the borrower
  11. Any other document/information , depending upon the case and purpose of the loan

How to Apply?

Visit any nearest Punjab national Bank branch and ask for Education loan by Delhi Government.