Educational Loan

The institution currently has a tie up with Punjab National Bank, Students can apply for a bank loan , assistance can be provided to apply for the loan.
Kindly contact us on pran@pran.in for more information

• 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.

While applying for the loan, the borrower is required to furnish the following information/papers:

• Loan application on Bank's format.
• Passport size photograph
• Proof of Address (Permanent) / ID Proof.
• Proof of Age.
• Proof of having secured pass marks in last qualifying examination
• Letter of admission in professional, technical or vocational courses
• Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned
• Details of Assets & Liabilities of parents
• In case loan amount is above Rs.4.00 lacs : *. Particulars of Guarantors and details of their Assets & Liabilities.

Photocopy of Passport & Visa, in case of foreign student. Any other document/information, depending upon the case and purpose of the 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
• Boarding and lodging expenses in recognized Boarding Houses / private accommodations
• Any other expense required to complete the course - like study tours, project work, thesis etc.

• Up to Rs.4.00 lacs: No Security.
• Above Rs 4.00 lacs and Up to Rs 7.5 lacs: 3rd party guarantee acceptable to the Bank.
• Above Rs 7.5 lacs: Collateral Security of Suitable value or suitable 3rd party guarantee

• Up to Rs. 4 lacs BPLR+Term Premia minus 1.25
• Above Rs.4 lacs BPLR + Term Premia
• Term premia of 0.50% p.a. shall be added for repayment period of 3 years & above
• The interest shall be debited monthly on simple basis during the Repayment holiday/ Moratorium period.
• Penal Interest @ 2% be charged for above Rs.4.00 lacs for the overdue amount and overdue period.
• 1% Interest concession for servicing of interest during the study period regularly is allowed at the time of start of repayment period of loan

Repayment Holiday / Moratorium Course period + 1 year OR 6 months after getting job, whichever is earlier. The Principal and interest is to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years.

Nil

Up to Rs. 4 lacs Rs.270/- + Service Tax & Education Cess
Above Rs.4 lacs Rs.450/- + Service Tax & Education Cess