Education Loan Scheme - PNB Kaushal

Purpose

Tuition/ course fee.

Examination/ Library/ Laboratory fee.

Caution deposit.

Purchase of books, equipments and instruments.

Any other reasonable expenditure found necessary for completion of thecourse.

Eligibility

Should be an Indian national.

Student who secured admission/who meets the eligibility criterial with minimum qualifications to undergo skill training for the National Skill Qualification Framework (NSQF) aligned courses and or the Non-NSQF aligned courses by the training entities on boarded on the MSDE`s Skill India Digital Hub (SIDH) platform, is eligible for a Skilling Loan and who has executed the loan documents with the lending institutions to avail the loan.

Quantum Of Finance

Need Based finance to meet expenses on course subject to the following ceilings:

Minimum: Rs. 5000/-

Maximum: Rs. 7,50,000/-

Margin

Up to Rs. 4 Lakh - NIL

Above Rs. 4 Lakh - 5%
(Scholarship/ assistantship be included in margin.) Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

Security

Parent(s)/guardian as joint borrower.No collateral or third party guarantee is required.

Repayment (Maximum)

Repayment Holiday/ Moratorium

For courses of duration upto 1 year - 6 months from the completion of the course.

For courses of duration above 1 year - 12 months from the completion of the courses.

Prepayment Charges

NIL

Rate Of Interest

Processing Charges/ Upfront Fee

Documentation Charges