Eligibility

Should be a Resident Indian/NRI/PIO.

Study in India. All the Graduation/ Post Graduation degree and diploma courses offered by 902 QHEIs in India through merit channel are eligible.

List of Institutions with Max Loan amount

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Mode of Finance

Digital Assisted Journey through WEB (till opening of account)

Digital End to End Journey through TAB (till disbursement)

Quantum of Finance (Maximum Rs. 50 Lakhs) - Need Based amount to meet those expenses which are eligible for finance be considered maximum up to Collateral free loans with nil margin for AAA & AA Institutes.

For A rated Institutes,: • Upto Rs. 4 Lakh- Nil Margin • Loan amount above Rs. 4 Lakhs- 5%

Features

The digital end to end journey through TAB & WEB for Education Loan under “PNB Vidyalaxmi Scheme” is available for Existing to Bank/New to Bank customers

Collateral free loans

Margin

For institutes under AAA and AA Category: NIL

For other Institutes:

Repayment period/tenure - Maximum repayment of the loan will be in equated monthly installments (EMIs) for a period of 15 years

Moratorium period - Course period + 1 year

ROI

Processing/Documentation Charges - NIL

ROI starting with 6.75%

Document Checklist for Applicant/Co-applicants

PM VIDYALAXMI PORTAL ID

Marksheet of all previous attained qualification

Schedule of Expenses of Course as given by the Institution

Experience Certificate (if any)

Proof of Admission to the Course

PAN and Aadhar Card of all the applicants