PNB Kaushal
Education Loan Scheme for pursuing Vocational Education & Training
Objective
- The Scheme PNB Kaushal aims at providing financial support forpursuing skill development courses.
- Students who secure admission in: Skill development courses of no minimum course duration;
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 should have secured admission in a course run by IndustrialTraining Institutes (ITIs), Polytechnics or in a school recognizedby central or State education Boards or in a college affiliated torecognized university, training partners affiliated to National SkillDevelopment Corporation (NSDC)/Sector Skill Councils, State SkillMission, State Skill Corporation, preferably leading to a certificate /diploma / degree issued by such organization as per National SkillQualification Framework (NSQF).
Quantum Of Finance
- Need Based finance to meet expenses on course subject to the following ceilings:
- Minimum Rs.5000/-
- Maximum Rs 1,50,000/-
Margin
- Nil
Security
Parent(s)/guardian as joint borrower.No collateral or third party guarantee is required.
Repayment (Maximum)
- For Loans upto Rs. 50,000 – Upto 3 years.
- For Loans between Rs. 50,000 to Rs. 1 lakh – Upto 5 years
- For Loans above Rs. 1 lakh – Upto 7 years
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.
Rate Of Interest
Parameter | Floating ROI | Fixed ROI | |
For Loan upto 10 years | For Loan above 10 years | ||
Loan up to Rs. 1.50 lakh (Covered under CGFSSD) | RLLR+BSP + 1.50% (Presently 10.75%) | 11.75% | 12.25% |
Loan up to Rs. 1.50 lakh (Covered under CGFSSD) to female student | RLLR+BSP + 1.00% (Presently 10.25%) | 11.25% | 11.75% |