PNB Bihar Student Credit Card Scheme

PNB Education Loan for Pursuing Higher Education for Students of Bihar

This loan helps Bihar students who passed Class 12 from school and want to pursue higher studies in India to pay for their course fees. This education loan scheme is designed based on the Bihar Student Credit Card Yojana started in 2016 by Bihar Government to provide financial support to deserving students from Bihar who cannot pursue higher studies because of financial constraints. The maximum loan amount that you can apply for is Rs. 4 lakh. For higher loan amount, the student can opt for other Punjab National Bank Education Loan Schemes.

Features of PNB Education Loan for Pursuing Higher Education for Students of Bihar

Why this Loan?

  • The loan is meant for you if you are a student from Bihar and want to pursue higher education in Bihar or anywhere else in India
  • You can use the PNB Bihar Student Credit Card Scheme loan amount to pay for course related expenses including fees, purchase of books, examination fees, etc.

Loan Amount

  • The maximum loan amount one can get under this scheme is Rs. 4 lakh
  • PNB may take into account any scholarships, fee waiver, etc. while computing loan requirements
  • If a scholarship is included while computing loan requirements, it may be ensured that the scholarship amount is credited to the loan account when it is received


  • The interest rate charged will be the sum of Repo Linked Lending Rate (RLLR), which is currently 6.80% and an additional factor of 2.15%. This brings the effective interest rate at 8.95%


  • The loan must be repaid within 15 years as EMIs
  • Repayment moratorium is for the course duration and an additional grace period of 12 months
  • There are no prepayment charges for this loan

Security Needed

  • Parents must be co-borrowers. No collateral security or third-party guarantee required
  • All Bihar Student Credit Card Scheme or education loan products are covered under the Bihar Government scheme


  • The borrower should be a Resident Indian, i.e. you should have spent more than 180 days in India in the previous financial year, and also be a resident of Bihar
  • The maximum age limit for a student to avail this loan is 25 years
  • Degree holders cannot apply for the loan for another degree of the same level, except for technical and management courses
  • The student must have secured admission or should have been selected for admission
  • The student must have Aadhaar and PAN card numbers to avail this loan
  • The credit score of the borrowers should be over 700

Eligible Courses

  • All graduate and postgraduate courses in non-technical, financial, technical, management, medicine and law streams conducted by educational institutions recognised by agencies or regulatory boards of Bihar Government, other State Governments or the Central Government

Borrower Contribution to Total Cost (Margin Money)

  • Do not need any margin money

Note: Margin money refers to the amount the borrower contributes to the overall amount required.

Processing and Other Charges

  • There are no processing charges for this loan

Uses of the Loan

  • College, school and hostel fees. For seats under Management quota, the fees approved by the government or approved regulatory body will be considered
  • Examination, library and laboratory fees
  • Insurance premium for the borrower student, if applicable
  • Caution deposit, building fund or refundable deposit supported by institution bills or receipts. These are subject to a maximum of 20% of total tuition fees
  • Cost of books, equipment, instruments, uniforms, subject to cap of 20% of tuition fees
  • Purchase of computer, if required for the course, subject to the 20% cap
  • Other expenses needed for completing the course such as study tours, project work, thesis, etc. This is also subject to the 20% cap
  • If hostel is not available and certificate to that effect is shown from the institute, then lodging and boarding expenses will be reimbursed at the rates approved for different city categories

Other Features to Know

  • The student should have been enrolled or selected for enrolment for a higher education degree, diploma or certificate in an educational institution recognised by concerned regulatory boards or agencies of the Bihar Government, other state governments or Central Government
  • The loan is disbursed directly to the college, bookseller or publisher, computer seller, and so on and not to the applicant(s)

Documents Needed

  • Application Form duly filled and signed by applicant and/or guarantor along with details of applicant and/or guarantor and family
  • Two Passport Size Photographs of student, applicant and/or guarantor
  • Photocopy of PAN Card of the student that needs to be submitted at the time of application or during the course period
  • Personal Identification Proofs (Any One): Electoral I-Card, Passport, Driving License, PAN Card or Aadhaar Card
  • Residential Address Proof (Any One): Electricity Bill, Landline Telephone Bill, Electoral or Voter ID Card or Passport
  • Admission Letter, Course Details and Prospectus
  • Fee Details with Demand of Fee by the Institution
  • All Proofs of Past Academic Record including Mark Sheets and Certificates
  • Property or other security documents wherever applicable

Reference Facts

  • Punjab National Bank Website: and (net banking)
  • Headquarters: Dwarka, New Delhi
  • Call Centre Toll-Free Number: 1800 180 2222, 1800 103 2222