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