PNB Saraswati Education Loan

Punjab National Bank's Saraswati scheme offers education loans for higher studies at recognised Indian institutions with rates from 6.85% p.a. The scheme covers UG/PG courses at premier institutes including IIMs, IITs, NIFT, and NID.

Last checked on September 1, 2026. We may earn a commission when you click through.

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✓ Very competitive rates from 6.85% p.a. ✓ 0.50% interest concession for female students ✓ No processing fees
Student Punjab National Bank Reviewed

PNB Saraswati Education Loan

Updated 1 month ago

APR Range

6.85–11.6%

Amount

₹100k–₹5M

Term

12–180 months

Type

student

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Our Verdict

PNB's Saraswati scheme offers some of the lowest education loan rates in India at 6.85% p.a. for premier institutes. The 0.50% concession for female students and nil processing fees are genuine advantages. However, the scheme is heavily focused on merit-based admissions and may not suit students at non-premier institutions.

Best For

Merit-based students admitted to premier Indian institutions (IITs, IIMs, NIFT, NID, IISc) who want rock-bottom PSU rates and don't mind the paperwork.

Watch Out

The 6.85% rate is for secured loans above ₹7.5 lakh only. Unsecured loans (up to ₹7.5 lakh) come at 9.90%. Management quota admissions are considered case-by-case. Branch service quality varies significantly.

Pros

  • Very competitive rates from 6.85% p.a.
  • 0.50% interest concession for female students
  • No processing fees
  • Moratorium: course period + 1 year
  • Covers tuition, hostel, books, equipment, and travel

Cons

  • Best rates only for premier institute admits
  • Unsecured rate is 9.90% — higher than secured
  • Inconsistent branch-level service
  • Primarily for merit-based admissions

Summary

PNB Saraswati offers education loans at 6.85%-11.60% p.a. for studies at premier Indian institutions, with no processing fees, 0.50% female student discount, and repayment up to 15 years after course completion.

About This Loan

Punjab National Bank's Saraswati scheme offers education loans for higher studies at recognised Indian institutions with rates from 6.85% p.a. The scheme covers UG/PG courses at premier institutes including IIMs, IITs, NIFT, and NID.

Requirements

  • Resident Indian
  • Admission through entrance test or merit-based selection
  • Parent/guardian as joint borrower
  • Collateral for loans above ₹7.5 lakh

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