Education Loan - PNB Pravasi Shiksha Loan

`PNB Pravasi Shiksha Loan` Education Loan Scheme For Overseas Citizens in India (OCI)/ Person of Indian origin {PIO}/ Students who are born abroad Pursuing Higher Education In India.

The Education Loan Scheme “PNB Pravasi Shiksha Loan” aims at providing financial support to meritorious students who are Overseas Citizens in India (OCI)/ Students who are born abroad (Overseas Citizenship by Birth) for pursuing higher education in India. The main emphasis is that a meritorious student is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions.


Overseas Citizen of India (OCI)/ Students who are born to Indian parents during their stay abroad (foreign citizens by birth) and should have secured confirmed admission for a higher education course in identified institutions in India.

KYC documents

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.

Expenses considered for loan

- 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.

Age criteria

No minimum age limit (Minor is not permitted).

Courses eligible

- Full time regular Graduate /Post Graduate/ Diploma (equivalent to Degree)/ Executive Courses.

- Part time/ Research/ Certificate Courses are not allowed.

Institutes covered Identified Educational Institutes in India as per list as per Annexure.
Loan Amount Need based.
Margin 20%.

Equitable/Registered Mortgage of Immovable Property in India in the name of Guarantor(s) with value at least 125% of loan amount (IP must be other than agricultural or plantation property or farm house).


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.

Guarantor(s) Guarantee of Person(s) who is/are offering his/her/their Immovable Property in India or Liquid Security as Collateral Security for the loan is mandatory.
Insurance Cover 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).
Repayment Holiday/ Moratorium Period Course Period + 6 months.
Repayment mode

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)/NRO accounts.

Re-imbursement of Fee Not permitted.
Rate of Interest Click here
Processing Charges/ Upfront Fee Click here
Documentation Charges Click here

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

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