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ICICI Bank vs Punjab National Bank Education Loan
Punjab National Bank advertises the lower starting rate (7.1% vs 8.5%). On ₹20 lakh over 10 years that is about ₹1,76,668 less interest, or ₹1,472 less per month, at the starting rates.
| ICICI Bank | PNB | |
|---|---|---|
| Starting interest rate | 8.5% | 7.1% |
| EMI for ₹20 lakh, 10 years | ₹24,797 | ₹23,325 |
| Total interest | ₹9,75,657 | ₹7,98,989 |
| Processing fee | Not stated | Not stated |
| Prepayment | No foreclosure charges | Not stated |
| Maximum tenure | 15 years | - |
Source: ICICI Bank official page, checked 1 November 2026.
Source: Punjab National Bank official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Frequently asked questions
Which is cheaper, ICICI Bank or PNB education loan?
Punjab National Bank advertises the lower starting rate (7.1% vs 8.5%). On ₹20 lakh over 10 years that is about ₹1,76,668 less interest, or ₹1,472 less per month, at the starting rates. Your actual rate may differ from the starting rate.