PNB Skill Loan Scheme
PNB Skill Loan Scheme (विशेष बैंक योजना)
Specialized financing solution by Punjab National Bank offering transparent terms and flexible repayment.
Max Loan Amount
Up to ₹1.5 Lakh (Vocational Training & ITI)
Interest Rate
8.80% – 9.90% p.a. (RLLR linked)
Moratorium Period
Course duration + 6 months
Repayment Tenure
Up to 7 years
✦ What the Loan Covers (Eligible Expenses)
Tuition / course fees, examination fees, equipment / tool kits, books, and exam certification fees.
What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Costs
Eligo disclosure: Bank loan brochures and DSA agents rarely highlight these conditions. Verify before signing your loan agreement.
Parent co-borrower mandatory; course must be aligned with National Skill Qualification Framework (NSQF); unaccredited private training institutes are ineligible.
✦ Collateral & Margin Money Terms
Collateral & Guarantee Requirement:
Nil collateral; Parent co-borrower required.
Margin Money (Borrower Contribution):
Nil margin.
✦ Eligibility Requirements
Indian national who has secured admission to a course run by ITI, Polytechnic, or training partners affiliated with National Skill Development Corporation (NSDC) / Sector Skill Councils.
✦ Government Subsidies & Rate Concessions
Backed by Credit Guarantee Fund for Skill Development (CGFSD) or premier institute fast-track terms.
✦ Required Documents Checklist
Admission letter from training partner/ITI, fee receipt, 10th marksheet, Aadhaar of student and parent, bank account passbook.
✦ How to Apply Step-by-Step
1. Apply via JanSamarth portal or nearest Punjab National Bank branch.
2. Submit admission proof from NSDC/ITI institute.
3. Digital verification and direct fee remittance to training center.Official Portal
Official Portal / Lender Domain
Apply or verify directly on the official banking portal
✦ Frequently Asked Questions
What is the maximum loan under PNB Skill Loan Scheme?▼
Up to ₹1.5 Lakh (Vocational Training & ITI). As per government guidelines, loans are structured to match training and equipment costs.
What is the moratorium period for skill loans?▼
For courses up to 1 year, moratorium is course duration + 6 months. For courses over 1 year, moratorium is course duration + 12 months.
Is collateral needed for skill loans?▼
No collateral or third-party guarantee is required for skill loans up to ₹1.5 Lakh as they are covered by CGFSD.