all about medical
 Date : 7/26/2017 
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Education Loan- "VIDYALAKSHYAPURTI"

Eligibility
A. Course Eligibility
Students of +2 Stage
 
Graduation courses - B.A., B.Com., B.Sc. etc.
 
Post-Graduation courses, Masters in Ph.D
 
  Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
 
  Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University
 
  Courses like ICWA, C.A., CFA etc., courses conducted by IIM, IIT, NIFT etc.
 
  Evening courses of reputed Institutes, Diploma / Degree courses conducted by Colleges, Universities approved by UGC / Government / AICTE etc.
 
  Courses offered by National Institutes and other reputed Private Institutes, in order to meet the Cost of their studies in India and abroad.
 
B. Student eligibility
Should be an Indian National.
 
  Secured admission to Professional / Technical courses through Entrance Test / Selection process.
 
Secured admission to foreign University / Institutions.
 
  Student should have secured pass marks in the qualifying Examination for admission to Graduation Courses.


 


Expenses considered for Loan
Fee payable to College / School / Hostel
 
Examination / Library / Laboratory fee.
 
Purchase of books / equipments / instruments / uniforms.Secured admission to foreign University / Institutions.
 
Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts.
 
Travel Expenses / Passage money for studies abroad.
 
Purchase of computers - essential for completion of the Course.
 
Any other expense required to complete the course - like study tours, project work, thesis, etc.


 
Quantum of Finance
  Need based finance, subject to repaying capacity of the parents / students with margin and the following ceilings :-
For studies in India: Maximum Rs.7.50 lacs.
 
For studies abroad: Maximum Rs.15.00 lacs.


 
Margin
 Upto Rs.4.00 lacs: - Nil.
Above Rs.4.00 lacs: Studies in India 5%
                            :Studies Abroad 15%


 
Security
Upto Rs.4.00 lacs: No Security.
 
Above Rs.4.00 lacs: Collateral Security of Suitable value (equivalent to 100% of the amount of loan) / co-obligation of parents / guardian / third party.
Assignment of future income of the student for repayment of loan shall be taken in addition to the above.
The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares / Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.


 
Interest
Upto Rs. 4 lacs PTLR
 
Above Rs.4 lacs PTLR + 1%
The interest shall be debited monthly on simple basis during the Repayment holiday / Moratorium period.
Penal Interest @2% be charged for above Rs.2.00 lacs for the overdue amount and overdue period.


 
Repayment Holiday
Coursee period + 1 year OR 6 months after getting job, whichever is earlier.


 
Repayment
Principal and interest to be repaid in 5-7 years after commencement of repayment. Ifthr student is not able to complete the course within the schduled time, extension of time for completion of course may be permitted for a maximum period of 2 years.
 
1% concession can be permitted in interest to loanees if the interest is serviced by them during the study period and the repayment holiday specified for interest / repayment under the Scheme.


 
Upfront Fee
NIL
 

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.


Head Office
7, Bhikhaiji Cama Place, Africa Avenue
New Delhi - 110 066
Gen: 011-6102303, Fax: 011-6173603/6196514
E-Mail: pnbmasd@Vsnl.com
 Website: www.pnbindia.com


 

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