PNB Saraswati

To provide financial support to meritorious students for pursuing higher education in India.

Objective

  • To provide financial support to meritorious students for pursuing higher education in India.
  • Students Who Secure Admission In Institutes As Under
  • Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
  • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing Council or any other regulatory body as the case may be.
  • Approved courses offered in India by reputed foreign universities.
  • Courses as defined under various Government Subsidy Schemes.

Purpose

  • Fee payable to college/ school/ hostel
  • Examination/ Library/ Laboratory fee.
  • 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

  • Should be a resident Indian.
  • Should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).
  • Cases of Management Quota may be considered on merit basis;

Quantum Of Finance

  • Need based Finance subject to margin as per guidelines. 
  • Reimbursement of fees paid within six months may be permitted on individual merits of the case.

Margin

  • Up to Rs. 4 lac – NIL
  • Above Rs. 4 lac – 5%
  • Scholarship/ assistantship may be considered in margin.
  • Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

Security

  • Upto Rs. 7.50 lacs:Parent(s)/guardian be made joint borrower (s). No tangible Security and /or 3rd party guarantee is required.
  • Above Rs.7.50 lacs:Parent(s)/guardian be joint borrower(s).Tangible collateral security of suitable value acceptable to bank.

Repayment (Maximum)

  • Maximum upto 15 years

Repayment Holiday/ Moratorium

  • Course period + 1 year

Rate Of Interest

Parameter

Rate of Interest with interest table codes (Other than Female Student)

Rate Of Interest with interest table codes (Female Student)

Floating

Fixed

Floating

Fixed

For Loan upto 10 years

For Loan above 10 years

For Loan upto 10 years

For Loan above 10 years

Loan upto Rs.7.50 lakhs

(covered under CGFSEL Scheme)

RLLR+BSP+ 2.00%

(Presently 11.25%)

12.25%

12.75%

RLLR+BSP+ 1.50%

(Presently 10.75%)

11.75%

12.25%

Loan above Rs.7.50 lakhs

RLLR+BSP+2.00%

(Presently 11.25%)

12.25%

12.75%

RLLR+BSP+ 1.50%

(Presently 10.75%)

11.75%

12.25%

Loan irrespective of amount (where minimum 100% collateral security is available)

RLLR+BSP+1.25%

(Presently 10.50%)

11.50%

12.00%

RLLR+BSP+ 0.75%

(Presently 10.00%)

11.00%

11.50%