Punjab National Bank (PNB) is one of the most popular choices for education loans to study abroad. The bank provides abroad education loans under its dedicated scheme \u2018PNB Udaan Education Loan\u2019. Students can get up to 1.5 crore loans for studying top-notch courses in global universities. The PNB education loan disbursement process is done online mode and the amount is transferred directly to the university soon after the loan is approved subject to a verification process, admission letter and visa approval. Let\u2019s understand how exactly the disbursement process works and the stages included.<\/p>\n\n\n\n
PNB provides education loans under the PNB Udaan scheme to students who want to study abroad. To get the loan, you need to fill out and submit the application form. The application can be submitted online on the official website or through the Vidya Lakshmi portal education loan. Applications can also be submitted by visiting the nearest branch of Punjab National Bank. Check some of the features of PNB education loan:<\/p>\n\n\n\n
Also Read: Heading Abroad for studies and worried about transfers? Check this blog and understand all about <\/em><\/strong>PNB International Money Transfer<\/em><\/strong><\/a><\/p>\n\n\n\n There are certain stages involved in education loan disbursement loan application, loan sanction, documentation etc. The bank will verify all the documents and other important details before disbursement. Check all the stages in the disbursement of PNB Overseas Education Loan<\/strong><\/a> in detail below:<\/p>\n\n\n\n Students are required to apply for a PNB Udaan education loan to study abroad through online or offline processes. Check the steps below to apply for the loan:<\/p>\n\n\n\n After receiving the education loan application, the bank will start the verification process. The bank will verify the details such as income, employment status, collateral (in case of a secured loan), academic records etc. After verifying all the details and supporting documents, the bank will sanction the loan. You will get an education loan sanction letter<\/strong><\/a> from the bank which you can submit to the university as evidence of financial support. The loan sanction letter contains details such as loan amount, interest rate, repayment period, moratorium details, university details etc. <\/p>\n\n\n\n Also Read: Know all about <\/em><\/strong>Education Loan without collateral to study abroad<\/em><\/strong><\/a><\/p>\n\n\n\n Once the loan is sanctioned, you will know how much loan amount you are getting and what will be the estimated repayment amount. If you decide to proceed with the loan, you need to submit some documents. Check the list of documents below:<\/p>\n\n\n\n After the complete verification of the documents that were submitted after the loan sanction, the bank will initiate the education loan disbursement process<\/strong><\/a>. The loan amount will be directly transferred to the University to cover tuition fees and accommodation costs. The bank will not transfer the money to the personal account of the applicant or co-applicant. You may get some amount in your account if you have opted for outside accommodation. Also, the entire loan amount will not be transferred at once. It will be deposited following the semester-wise process. <\/p>\n\n\n\n After the verification process is completed, the amount will be loan will be transferred within 72 hours.\u00a0<\/p> <\/div> The bank will transfer the loan amount directly to the university in order to cover the tuition and accommodation costs.<\/p> <\/div> PNB education loan interest rate varies between 8-13% depending on the loan amount.<\/p> <\/div> The bank will not transfer the loan amount to your personal savings account. It will be transferred to the university for the course and accommodation fee.<\/p> <\/div> You can apply for the PNB Udaan education loan through the official website of the bank or the Vidya Lakshmi Portal.\u00a0<\/p> <\/div> <\/div>\n\n\n\n This was all the information related to the PNB education loan disbursement process. Read all the loan-related terms and conditions properly and then proceed with the education loan application from PNB. <\/p>\n\n\n\n To know more about the loan application process, the best bank accounts for students<\/strong><\/a>, forex and banking experience for global students or international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience. <\/p>\n\n\n\nSteps Involved in Loan Disbursement<\/span><\/h2>\n\n\n\n
PNB Education Loan Application Process<\/span><\/h3>\n\n\n\n
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Loan Sanction <\/span><\/h3>\n\n\n\n
Documents Required for Loan Disbursement<\/span><\/h3>\n\n\n\n
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PNB Education Loan Disbursement<\/span><\/h2>\n\n\n\n
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FAQs<\/span><\/h2>\n\n\n\n