TO provide Education Loan to meritorious students who are Overseas Citizens of India (OCI) or Students who are born abroad (Overseas Citizenship by Birth) for pursuing higher education in India with affordable terms and conditions. . Eligibility of PNB Pravasi Shiksha Loan Scheme Age Criteria Minimum age limit - 18 years (Minor is not permitted). Meritorious Students who are Overseas Citizen of India (OCI) or Students who are born to Indian parents during their stay abroad (foreign citizens by birth).Students should have secured confirmed admission for a higher education course in identified institutions in India.
PNB Pravasi Shiksha Loan
PNB Pravasi
Shiksha Loan Scheme is a Education Loan Scheme for
Overseas Citizens of India (OCI), Person Of Indian Origin (PIO) or Students
Who Are Born Abroad for Pursuing Higher Education In identified institutes
in India.
Overseas Citizens of India (OCI), Person Of Indian Origin (PIO) or Students
Who Are Born Abroad for Pursuing Higher Education In identified institutes
in India.
Purpose of PNB Pravasi Shiksha Loan Scheme
TO provide
Education Loan to meritorious students who are Overseas
Citizens of India (OCI) or Students who are born abroad (Overseas
Citizenship by Birth) for pursuing higher education in India with affordable
terms and conditions.
Citizens of India (OCI) or Students who are born abroad (Overseas
Citizenship by Birth) for pursuing higher education in India with affordable
terms and conditions.
.
Eligibility of PNB Pravasi Shiksha Loan
Scheme
Age Criteria
Minimum age limit - 18 years (Minor is not
permitted).
Meritorious Students who are Overseas
Citizen of India (OCI) or Students who
are born to Indian parents during their stay abroad (foreign citizens by birth).
are born to Indian parents during their stay abroad (foreign citizens by birth).
Students should have secured confirmed
admission for a higher education
course in identified institutions in India.
Documents Required for PNB pravasi Shiksha
Loan
Valid Photo Identity
proof:
Passport
Driving
License
PAN
Card
Voter
ID card
Valid Address
proof in India:
Copy
of Electricity Bill
Water
Bill/ Telephone Bill
Passport
Driving
License
Aadhar
card
Duly verified copy
of valid Passport and Visa.In case of OCI borrowers OCI card is mandatory.
Address proof mentioning the current overseas address.
(Duly attested by Representative Offices or Indian Embassy/
Consulate or officials of sourcing bank branch).
In Case of PIOs – PIO Card issued by the Government of India.
(Duly attestedby Representative Offices or Indian Embassy/Consulate
or officials of sourcing bank branch).
Business address proof in case of Self Employed.
(Duly attested by Representative Offices or Indian Embassy/Consulate
or officials of sourcing bank branch)
Income Proof:
For Salaried: -
Latest 12 Months Salary certificate along with statement of salary account
for the last 12 months. (Last month Salary Certificate to be duly attested by Representative Offices or Indian Embassy/ Consulate or officials of sourcing
bank branch).
For Non Salaried: -
Last 2 years Audited/C.A. certified Balance Sheet and P&L accounts with computation sheets. As per prevalent law of the country of the prospective borrower.
Last 12 months Bank Account Statement.
Last year’s Audited/C.A. certified Balance Sheet and P&L accounts with computation sheets to be duly attested by Represntative Offices or Indian Embassy/ Consulate or officials of sourcing bank branch.
All the relevant documents to be taken from
the Borrower/ Co-Borrower/
Guarantor as per the bank’s existing guidelines issued from time to time.
Passport is mandatory. In case of OCI borrowers OCI card is mandatory.
Guarantor as per the bank’s existing guidelines issued from time to time.
Passport is mandatory. In case of OCI borrowers OCI card is mandatory.
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| education loan |
Need based.
Expenses Considered For calculating Loan
quantum
All
the expenses required to complete the courses including one time to
and fro travel expense to India.
Hostel
accommodation offered by the Institute to be included.
In
case the student opts for outside accommodation other than that
provided by college/university, the expenses
may not be considered for loan.
Courses Eligible for Pravasi Shiksha Loan
Full time regular courses such as:
Graduate and Post Graduate corses
Diploma courses(equivalent to Degree)
Executive Courses
Part time Courses and Research/
Caution: Certificate Courses are not allowed
Institutes Covered
20% of sanctioned amount.
Loan Security
Equitable/Registered Mortgage of Immovable
Property in India in the
name of Guarantor(s) with value at least
125% of loan amount
(Immoveable Property must be other than
agricultural or plantation
property or farm house).
OR
Liquid Security with value at least 125% of
loan amount, in the shape
of pledge of Government Security, NSCs,
KVPs, IVPs / PSU Bonds
(where interest is being serviced
regularly) / Bank`s FDR / LIC Policies
(surrender value) etc.
Loan Guarantee
Third party Guarantee of a Person who is
Resident Indian offering his/her
Immovable Property in India or Liquid
Security as Collateral Security for
the
loan is mandatory.
Insurance Cover
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| education loan |
Life Insurance Cover is mandatory upto an amount equivalent to total
loan amount including interest accrued
during repayment holiday.
Repayment Period
Maximum 10 years (excluding moratorium
period).
Note:
Repayment of loan shall be made in Equated
Monthly Installment (EMIs).
Repayment to be done out of remittances
from outside India through normal banking channels or by debit to
NRE/FCNR(B)/NROaccounts.
|
Repayment Holiday/ Moratorium Period
Maximum Holiday period for PNB Pravasi
Shiksha Loan Scheme
Course Period + 6 months.
Re-Imbursement Of Fee
Not permitted.
Rate of interest
RLLR + 2.15%
Repo Linked Lending Rate (RLLR): 6.65%
Processing Charges/ Upfront Fee
For PNB Pravasi Shiksha Loan: 1% of the
loan amount,
Minimum Rs.10,000/- (Non-refundable)
Documentation Charges
For PNB Pravasi Shiksha Loan: Rs 450/-
For submission of Complaint/Service Request (Faster Resolution)
For tracking of Complaint/Service Request
FOR CREDIT CARD HELPLINE:
1800 180 2345
0120-4616200
Balance enquiry
(Missed call on Toll free
(1800 180 2223)/Tolled
no (01202303090) from the registered mobile
will get you Account
Balance of your Saving Fund/Current account)
PNB Customer Care
Division ATM CARDS
Toll Free No.
1800 180 2222
1800 103 2222
Tolled No. 0120-2490000
Landline :011-28044907
Email ID PNB Customer
Care
care[at]pnb[dot]co[dot]in
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