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PNB CARES Education Loan

Education finance for identified CARES for Children beneficiaries. New enrolment was limited to 29 May–31 December 2021; the scheme is expected to support identified beneficiaries until they turn 23.

RateFloating 8.35% p.a. (RLLR+BSP+0.25%); fixed 9.35% p.a. up to 10 years or 9.85% above 10 years. Published for loans up to ₹7.50 lakh under CGFSEL and loans of any amount with the stated 100% tangible collateral.Processing feeNIL processing fee and NIL documentation charge for studies in India.BenchmarkRLLR + BSP + 0.25%.
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Quick eligibility check

PNB CARES Education Loan

0 of 7 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Are you this type of customer: For previously identified PM CARES for Children beneficiaries only: eligible child must have lost both parents, the surviving parent or a legal/adoptive guardian to COVID-19 between 11 March 2020 and 31 December 2021, have been under 18 on the date of death, be resident in India and gain admission to recognized higher education in India by entrance/merit selection?

Published source: Eligibility

2Do you meet this requirement: The page allows a stated exception for certain postgraduate programmes admitting on work experience?

Published source: Eligibility

3Do you meet this requirement: New enrolment ended 31 December 2021?

Published source: Eligibility

4Do you meet this requirement: For children already identified under PM CARES for Children?

5Do you meet this requirement: new enrolment closed on 31 December 2021?

6Document checkDo you have this required document or proof: PNB's general education-loan checklist: bank-format application, photograph, student identity/address and age proof, PAN (before disbursement if unavailable at sanction), qualifying-exam pass proof, admission letter and course prospectus with fees?

Published source: Eligibility

7Document checkDo you have at least one of these required documents: Aadhaar where applicable; co-applicant/guarantor documents and other case- or purpose-specific papers where applicable?

Published source: Eligibility
0 of 7 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 5 Oct 2026 · active
Offered byPunjab National Bank

See the official bank source for geographic availability.

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

RateFloating 8.35% p.a. (RLLR+BSP+0.25%); fixed 9.35% p.a. up to 10 years or 9.85% above 10 years. Published for loans up to ₹7.50 lakh under CGFSEL and loans of any amount with the stated 100% tangible collateral.View source
PNB publishes 8.35% floating and fixed 9.35%/9.85% for the two stated qualifying routes.
Source
PNB interest rates on advances — CARES education loan section
Page / section
CARES Education Loan Scheme; rate rows
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
BenchmarkRLLR + BSP + 0.25%.View source
The current page gives the floating benchmark formula explicitly.
Source
PNB interest rates on advances — CARES education loan section
Page / section
CARES Education Loan Scheme; rate rows
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
MarginNil up to ₹4 lakh; 5% above ₹4 lakh. Scholarship/assistantship may count toward margin, which may be brought pro rata as disbursements are made.View source
The page states nil up to ₹4 lakh, 5% above, scholarship/assistantship treatment and pro-rata margin contribution.
Source
PNB CARES Education Loan — current official page
Page / section
Margin
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
EligibilityFor previously identified PM CARES for Children beneficiaries only: eligible child must have lost both parents, the surviving parent or a legal/adoptive guardian to COVID-19 between 11 March 2020 and 31 December 2021, have been under 18 on the date of death, be resident in India and gain admission to recognized higher education in India by entrance/merit selection. The page allows a stated exception for certain postgraduate programmes admitting on work experience. New enrolment ended 31 December 2021.View source
PNB specifies the enrolment window, eligible bereavement circumstances/date range, age, Indian residence and higher-education admission conditions.
Source
PNB CARES Education Loan — current official page
Page / section
Period; Eligibility
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
Eligible expensesCollege, school or hostel fees; examination, library and laboratory fees; student insurance premium where applicable; institution-supported caution/building/refundable deposits; books, equipment, instruments and uniforms; a reasonably priced computer required for the course; and study tours, project work, thesis or other course-completion expenses.View source
The complete purpose list on the page is retained in concise grouped form.
Source
PNB CARES Education Loan — current official page
Page / section
Purpose
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
Processing feeNIL processing fee and NIL documentation charge for studies in India.View source
The current schedule sets processing and documentation fees to NIL for education studies in India.
Source
PNB service charges related to retail advances — current education-loan row
Page / section
Education Loan — studies in India
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
Loan typeEducation loanView source
The official product name identifies this as “PNB CARES Education Loan”.
Source
PNB CARES Education Loan — official product page
Page / section
Official product name and loan classification
Accessed
5 Oct 2026
Confidence
high
Open official source ↗
Geographic limitsFor previously identified PM CARES for Children beneficiaries only: eligible child must have lost both parents, the surviving parent or a legal/adoptive guardian to COVID-19 between 11 March 2020 and 31 December 2021, have been under 18 on the date of death, be resident in India and gain admission to recognized higher education in India by entrance/merit selection. The page allows a stated exception for certain postgraduate programmes admitting on work experience. New enrolment ended 31 December 2021.View source
The manually reviewed product record states: “For previously identified CARES for Children beneficiaries only: eligible child must have lost both parents, the surviving parent or a legal/adoptive guardian to COVID-19 between 11 March 2020 and 31 December 2021, have been under 18 on the date of death, be resident in India and gain admission to recognized higher education in India by entrance/merit selection. The page allows a stated exception for certain postgraduate programmes admitting on work experience. New enrolment ended 31 December 2021.”.
Source
PNB CARES Education Loan — official product page
Page / section
Published product metadata
Accessed
5 Oct 2026
Confidence
high
Open official source ↗

Benefits and features

  • Need-based finance for eligible higher-education expenses in India
  • Nil margin up to ₹4 lakh; 5% above ₹4 lakh
  • Floating rate 8.35% p.a.; fixed rate 9.35% up to 10 years or 9.85% above 10 years for the published qualifying routes
  • Nil processing and documentation charges for studies in India

Eligibility

  • For children already identified under CARES for Children; new enrolment closed on 31 December 2021.
  • The published scheme covers children who lost both parents, a surviving parent or a legal/adoptive guardian to COVID-19 between 11 March 2020 and 31 December 2021, were under 18 on the date of death, are resident Indians and gained admission to a recognized Indian higher-education course through entrance/merit selection, subject to the page's stated postgraduate work-experience exception.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • PNB's general education-loan checklist: bank-format application, photograph, student identity/address and age proof, (before disbursement if unavailable at sanction), qualifying-exam pass proof, admission letter and course prospectus with fees.
  • Aadhaar where applicable; co-applicant/guarantor documents and other case- or purpose-specific papers where applicable.

Related official documents

PNB Education Loans — current official catalogueofficial-product-catalogue · reviewed · accessed 5 Oct 2026
↗
PNB loan application checklist — education and co-applicant sectionsofficial-document-checklist · reviewed · accessed 5 Oct 2026
↗
PNB PM CARES Education Loan — current official product pageofficial-product-page · reviewed · accessed 5 Oct 2026
↗
PNB service charges related to retail advances — education-loan rowofficial-fee-schedule · reviewed · accessed 5 Oct 2026
↗
PNB interest rates on advances — current education-loan sectionsofficial-interest-rate-page · reviewed · accessed 5 Oct 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,459twenty-one thousand four hundred fifty-nine rupees
Interest paid over the full loan₹26,50,118twenty-six lakh fifty thousand one hundred eighteen rupees
Everything you repay₹51,50,118fifty-one lakh fifty thousand one hundred eighteen rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

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CARES — up to ₹7.50 lakh under CGFSEL · Floating rate8.35% (++0.25%)

This value is copied from PNB CARES and Honhaar — current rates. Check the table notes before relying on it.

Source: PNB current CARES and Honhaar rate rows · CARES Education Loan Scheme; PNB Honhaar Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 3 rows · 4 columnsPNB PM CARES and Honhaar — current ratesScheme-specific current education-loan rates from PNB's live rate table.View tableHide table

Scroll sideways to view every column

PNB PM CARES and Honhaar — current rates
Scheme / qualifying routeFloating rateFixed rate up to 10 yearsFixed rate above 10 years
CARES — up to ₹7.50 lakh under CGFSEL8.35% (++0.25%)9.35%9.85%
CARES — any amount with the stated 100% tangible collateral8.35% (++0.25%)9.35%9.85%
Honhaar10.10% (++2.00%)——
PNB current CARES and Honhaar rate rows · CARES Education Loan Scheme; PNB Honhaar · accessed 5 Oct 2026Open official source ↗
Table 2 · 6 rows · 2 columnsPNB education-loan document checklistPNB's general education and co-applicant checklist. Which items apply depends on scheme, destination and case.View tableHide table

Scroll sideways to view every column

PNB education-loan document checklist
Applicant / caseDocuments or timing condition
StudentPNB-format loan application; passport-size photo; identity/address proof under PNB ; age proof; (if unavailable at sanction, obtain before disbursement); proof of passing the last qualifying examination; admission letter; course prospectus with admission, examination and hostel charges.
Student, where applicableAadhaar where applicable; other information/documents depending on the case and loan purpose.
Studies abroadPhotocopy of passport and visa; visa copy is required before first education-loan disbursement.
Co-applicant/guarantor, as applicablePNB-format application; photo; identity/address and age proof; ; if an existing loan with another lender exists, its last 6 months' account statement and sanction letter.
Government interest-subsidy applicantIncome certificate from the designated State/UT authority, , Form 16 or audited accounts as required by the subsidy scheme.
Property-secured loan, if applicableTitle deed and other documents needed to prove title to the mortgaged immovable property.
PNB loan application checklist — education and co-applicant sections · Education Loan and Co-Applicant/Guarantor sections · accessed 5 Oct 2026Open official source ↗

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