Druk PNB Bank Limited(DPNBL) incorporated in Bhutan is a Joint Venture Bank with 51% share holding by Punjab National Bank, a leading public sector Bank in India.

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Education Loan

Education Loan

Q. What are the types of education for which education loans are given?
A. Education loans are given for pursuing all types of education viz. general, professional, technical and vocational courses.

Q. Which costs are financed under the scheme?
A. The scheme enables the needy students to meet the following costs for studies in India as well as abroad: admission fees, books & stationery, instruments required for the course, monthly fees, examination fees, insurance premium for policy on life of the borrowing student, caution deposit/ building fund/ refundable deposit supported by bills/ receipts, expenses like study tours/ project work/ thesis etc. required to complete the course, boarding and lodging expenses, and travel expenses/ passage money including air fare for joining the course abroad.

Q. Who is eligible to get loan under the scheme?
A. Student eligibility

1.     Should be a Bhutanese National.
2.     Secured admission to Professional / Technical courses through Entrance Test / Selection process.
3.     Secured admission to foreign University / Institutions.
4.     Student should have secured pass marks in the qualifying Examination for admission to Graduation Courses.

Q. What is the security required by the bank?
A. The following additional security in addition to the personal liability of the borrower is required:
Security:

Upto Nu.0.40 Million       :    Suitable 3rd Party guarantee acceptable to bank
Above Nu.0.40 million     :   Collateral Security Min 100 % value of loan and suitable 3rd party guarantee

NOTE : The document should be executed by the student and the parent / guardian.

Q. What is the rate of interest charged in the loan?

A. Interest rates are as under:
Amount
Under DPNBLEducation Scheme
Upto Nu. 0.4 Million     9.00%
Above Nu. 0.04 & upto Nu. 1.5 Million     11.00%

The Interest rates are subject to change from time to time.

Q. What is the method of application of interest in the loan?
A.The interest is charged on simple daily product basis. In case EMI amount is deposited before the due date the interest is charged on simple daily product basis up to the date of deposit and not up to due date. However, if the installment is not deposited on due date then interest will also be changeable on the overdue amount of EMI as well.

Q. When does the repayment of loan commence?
A. Repayment will commence after Course period + 1 year OR 6 months after getting job, whichever is earlier.

Q. What is the repayment schedule?
A. Principal and interest is repayable in 60 to 84 monthly installments.

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