University of Manchester
United Kingdom
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| Interest Rate | Starts at 8.35% |
| Loan Amount (Collateral) | Upto ₹200 Lac |
| Loan Amount (Without Collateral) | Upto ₹7.5 Lac |
| Processing Fees | starts 1% |
| Processing Time | 7 working days |
| Loan Tenure | up to 15 years |
| Margin | 85% Funding |
| Prepayment Charges | Zero |
| Moratorium Period | Course + 1 year |
| Admit Letter | Required |
| Tax Benefits | Yes |
| Type | Bank |
Punjab National Bank has launched a dedicated scheme for Study Abroad aspirants and named it the 'PNB Udaan' scheme. Under this scheme, they provide a Secured Education Loan of up to Rs 2 Crore and an Unsecured Loan of up to Rs 7.5 lakhs for Study in Top Universities Worldwide. The floating interest rate for the Bank of India Education Loan starts at 8.35% and increases to 9.60%. Likewise, other Banks and NBFCs are providing a Moratorium period of the course duration plus one year's grace period and a Loan tenure of 15 years.
Punjab National Bank has a list of 50 Top World Ranking Universities and terms them as Premium. They provide preference to students who have received admission in Premium Universities. They benefit from lower interest rates and a faster application process. The 'PNB Udaan' scheme applies to a wide range of Educational Courses above the 12th Level. This includes Bachelor's, UG Diplomas, Master's, PG Diplomas, PG Certificates, and professional courses, providing a comprehensive financial solution for various educational pursuits.
Currently, the Punjab National Bank offers a maximum of ₹7.5 lakhs for an unsecured education loan, and requires collateral for higher amounts exceeding this limit. This means that the Punjab National Bank is a considerable option for Study Abroad Aspirants with tangible security, such as a house, Shop, or Building, providing you with a sense of security and confidence in your financial decisions.
| Unsecured Loan Amount | Rs 7.5 Lacs |
|---|---|
| Secured Loan Amount | Rs 2 Crore |
| Interest Rate | 8.35% - 9.60% |
| Moratorium Period | Course Duration + 1 year |
| Applicable For | All Courses |
| Loan Tenure | 15 yrs + Course Duration + 1 year |
Here is the Eligibility Criteria of the Punjab National Bank - PNB Udaan Education Loan for the Study Abroad scheme
The Punjab National Bank (PNB) covers nearly all expenses expected while studying abroad under PNB Udaan Education Loan Scheme
The optional Term-Life Insurance cost is included in the Sanctioned Amount and will be deducted from the Disbursed Loan amount.
Here is the list of basic charges involved in Punjab National Bank Study Abroad Education Loan
| Description | Charges & Fees |
|---|---|
| Processing Fees (Above ₹20 Lacs) | 1% up to ₹10,000 |
| Legal & Technical Charges | ₹250 + GST |
| Term Insurance Cover | Optional |
| Prepayment Charges | NIL |
| Foreclosure Charges | NIL |
*Charges may vary
The Punjab National Bank charges a processing fee of 1% of the Sanctioned Loan amount up to a maximum of Rs 10,000. It is fully refundable on the first disbursement. If you did not take the disbursement for any reason, the processing fees are Non-Refundable.
| Processing Fees | Charges |
|---|---|
| Study Abroad Education Loan - PNB Udaan | 1% upto ₹10,000 (Refundable on First Disbursement) |
The PNB has a margin policy of 15% for Study Abroad Education Loans under the Udaan Scheme. So, you have to pay 15% of the total cost of Education. If the student has a Scholarship awarded by the University or any organisation, it will be counted in the margin from the student's side. The margin needs to be brought on a year-on-year basis or at the time of disbursement on a pro-rata basis.
For Example, the total cost of Education, including Tuition Fees, Living, and Travelling Expenses, is Rs 40 Lacs. The bank will approve a maximum of Rs 34 Lacs, with the student or co-borrower covering the remaining Rs 6 Lacs.
| Course Type | Loan Amount | Margin Money |
|---|---|---|
| All Courses | up to ₹4 Lacs | NIL |
| All Courses | more than ₹4 Lacs | 15% |
The PNB has divided the Universities into Premium and Non-Premium categories based on their World Rankings. So, the premium universities get the benefit of a Lower Interest Rate compared to Non-Premium.
The interest rate of Punjab National Bank for Study Abroad Universities is 8.35% for Premium Universities and 9.60% for Non-Premium Universities.
| University Type | Floating | Fixed | ||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| Premium Universities | 8.35% | 8.35% | 9.35% - 9.85% | 9.35% - 9.85% |
| Non-Premium Universities | 9.60% | 9.10% | 10.60% - 11.10% | 10.10% - 10.60% |
*(As of 1st July 2025)
Concession for Female Students
Female students are eligible for a 0.50% concession in the Floating Interest Rate for Non-Premium Universities. However, there are no further concessions for Premium Universities or Fixed Interest Rate.
Concession for Servicing Simple Interest
As a basic objective of the Education Loan, the student is given a Moratorium period of the Course Duration and a grace period of 1 year in PNB. If the student or co-borrower chooses to pay the accrued Simple Interest during that period, then they are eligible for 1% discount on the Interest Rate as a concession.
The Punjab National Bank has selected the 50 Top-Ranking Universities in Countries such as the United States, the United Kingdom, Singapore, Switzerland, Sweden, France, Canada, China, Japan, Germany, Belgium, and Hong Kong. Here is the List of Universities. The eligible courses are STEM (Science, Technology, Engineering, and Management).
| University | Country |
|---|---|
| University of Oxford | United Kingdom |
| Harvard University | United States |
| University of Cambridge | United Kingdom |
| Stanford University | United States |
| Massachusetts Institute of Technology (MIT) | United States |
| California Institute of Technology | United States |
| Princeton University | United States |
| University of California, Berkeley | United States |
| Yale University | United States |
| Imperial College London | United Kingdom |
| Columbia University | United States |
| ETH Zurich | Switzerland |
| The University of Chicago | United States |
| University of Pennsylvania | United States |
| Johns Hopkins University | United States |
| Tsinghua University | China |
| Peking University | China |
| University of Toronto | China |
| National University of Singapore | Singapore |
| Cornell University | United States |
| University of California | United States |
| University College London (UCL) | United Kingdom |
| University of Michigan-Ann Arbor | United States |
| New York University | United States |
| Duke University | United States |
| Northwestern University | United States |
| University of Washington | United States |
| Carnegie Mellon University | United States |
| University of Edinburgh | United Kingdom |
| Technical University of Munich | Germany |
| University of Hong Kong | Hong Kong |
| University of California, San Diego | United States |
| LMU Munich | Germany |
| University of Melbourne | Australia |
| King’s College London | United Kingdom |
| Nanyang Technological University | Singapore |
| London School of Economics and Political Science | United Kingdom |
| Georgia Institute of Technology | United States |
| The University of Tokyo | Japan |
| University of British Columbia | Canada |
| École Polytechnique Fédérale de Lausanne | Switzerland |
| KU Leuven | Belgium |
| Universität Heidelberg | Germany |
| Monash University | Australia |
| Chinese University of Hong Kong | Hong Kong |
| McGill University | Canada |
| Paris Sciences et Lettres – PSL Research University Paris | France |
| University of Illinois at Urbana-Champaign | United States |
| Karolinska Institute | Sweden |
| University of Texas at Austin | United States |
Connect with our Education Loan Expert and get your application processed within 3-4 working days*
Check Eligibility For FreeWhen applying for an education loan through Abroad Cube, you can expect higher chances of approval as our expert will verify the documents before submission and suggest better alternatives for higher approval.
Using the latest technology and years of experience, we expedite the application process by 65%, reducing overall processing time. Applying using the exact required documents with the eligible lender is the key to getting an application processed in record processing time.
Our Education Loan Expert will send you a Personalized Document Checklist, removing all unnecessary documents, easing the process and giving you peace of mind.
We will help you get Comparable, Negotiated and best-suited Education Loan deals, saving you up to Rs 3 Lakhs. The major negotiable components are Interest Rate and Processing Fees.
We are not charging any service fees for helping with the Study Abroad Education Loan. Also, there are no hidden fees involved, which is guaranteed. For each approval, we get paid a referral fee by Punjab National Bank without any additional charge to students.
Here is the standard document checklist for getting an education loan from Punjab National Bank or other lenders. The bank or NBFC might ask for additional documents or information based on the application to ease the process.
The Education Loan documents may vary based on individual applications. If you are missing any required documents, please contact our Loan Expert for help!
Start by checking your eligibility on Abroad Cube's website or reach out to us via WhatsApp or phone. The Eligibility criteria include Country acceptance, University and course ranking, Academics, Credit Score and history, co-applicant and Collateral requirements, etc.
Once you pass the basic Eligibility Criteria, the next step will be Documentation. Our Education Loan Expert will send you a personalized Document Checklist of Punjab National Bank and help you arrange, sort and suggest alternatives, if any. Before sending documents to the Punjab National Bank, we ensure that all documents are in order according to the required Checklist to expedite the application login process.
Our Education Loan Expert will choose the best lenders from the pool of 12+ options to get you the best-suited deal. They will follow up with concerned Lender Relationship Managers for Application Login and further processing. The lender process will include getting consent, address verification, and a small telephonic interview with the Credit Manager before the final decision.
The sanction letter will be released within 24 hours once you pay the processing fee to the Bank via acceptable payment methods. Afterwards, you may proceed with the Study Visa process or request Pre-Visa disbursement. You can also ask for reimbursement if you have already paid the Tuition Fees or Living Expenses via other means. Once you complete the banking formalities, the loan amount will be disbursed into the Bank Account
You may apply for Punjab National Bank Education Loan by visiting their local bank branch or contacting their customer support team. But Abroad Cube will help you get a hassle-free Education Loan from your comfort at the best Interest Rate and record processing time at Zero Service Charges.
Abroad Cube is an Online Study Abroad Marketplace that has onboarded 12+ Banks and NBFCs to ease the process of getting the best deal for an Education Loan in minimal processing time. To get started, Check your Eligibility and share your Documents by Email or WhatsApp to expedite your application process.
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University of Manchester
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