PNB Education Loan for MBA

I have completed graduation from NIT. Now I am thinking for MBA Degree from top Institute in India. So I have to apply for Education Loan. I want to apply for Loan at Punjab National Bank (PNB). So will you please give information about Education Loan from PNB Bank for MBA from top Institute in India?

[shikha]

The Punjab National Bank (PNB) offers several kinds of Education Loans.

`PNB PRATIBHA` is best suitable Education Loan for you.

The PNB Bank offers this Loan for students who want to do Higher Degree from top Institutes in India.

Details of `PNB PRATIBHA`:

Purpose:
Fee payable to college/ school/ hostel.
Examination/ Library/ Laboratory fee.
Life Insurance premium for student borrower, if applicable.
Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
Purchase of books/ equipments/ 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.

Eligibility to Apply:
Should be an Indian national.
Should have secured admission in Regular full time Degree / Diploma courses offered by Premier Institutes, which include (i) Business Schools, (ii) Engineering Colleges, (iii) Medical Colleges and other reputed Institutes as per Annexure `I` & `II`
Part-time Post Graduate Programmes in Management for Executives’, offered by Indian Institute of Management (IIM) at all centers.
Post Graduate Programme in Management for Senior Executives (PGPMAX), offered by Indian School of Business (ISB) Hyderabad & Mohali campus

Quantum Of Finance
Need based Finance subject to repaying capacity of the parents/ students (after getting employment);
Reimbursement of fees paid within six months may be considered on individual merits of the case.

Margin:
i. In case of institutes covered at Annexure-I : - NIL
ii. In case of Institutes covered at Annexure-II :
Up to Rs. 4 lac - NIL
Above Rs. 4 lac - 5%
iii. Scholarship/Assistantship be included in margin
iv. Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
Annexure-I - NIL
Annexure-II - 5%

Security
Co-obligation of parents/guardian as joint co-borrowers.

Repayment (Maximum)
maximum upto 15 years

Repayment Holiday/ Moratorium
Course period + 1 year

Prepayment Charges
Nil

Interest Rate:
PNB Pratibha admission to other than IIT
Loan up to Rs. 7.50 lac MCLR+0.60%
Loan above Rs. 7.50 lac MCLR+0.10

PNB Pratibha admission to IIT
Loan up to Rs. 7.50 lac MCLR+0.50%
Loan above Rs. 7.50 lac MCLR

List of Top Institutes for `PNB PRATIBHA` Education Loan