~ The bank enhances affordability towards higher education at 860 premier Indian institutions ~
Punjab National Bank (PNB), India’s leading public sector bank, has reduced interest rates on its education loan offering under the “Vidyalaxmi Scheme” by 20 bps. This initiative further strengthens the bank’s commitment to enhance education accessibility.
The Vidyalaxmi Scheme is designed to provide comprehensive financial support to students towards quality-driven higher education. This initiative is available to candidates who secure admission on merit to 860 identified Quality Higher Education Institutions (QHEIs) across India.
Key Features of the Scheme:
Eligibility: Indian Nationals including NRIs, and OCIs pursuing Graduation/Post-Graduation degree or diploma courses in QHEIs.
Quantum of Finance: Need-based financing.
Margin:
AAA & AA Institutes – NIL
Other Institutes – NIL up to Rs. 4 lakh; 5% for amounts above Rs. 4 lakh
Revised Interest Rate: Institute-specific, starting from 7.50%.
Security: No collateral required; parents/guardians to be joint borrowers
Subsidy Benefits:
Eligible students can access detailed information about the scheme by visiting the nearest PNB branch, accessing the PNB One App, or visiting www.pnbindia.in.
No comments:
Post a Comment