What are the Options in Punjab National Bank Education Loans? (Part 2)
Punjab National Bank offers eight education loans:
- PNB Saraswati Education Loan
- PNB Pratibha Education Loan
- PNB Pravasi Shiksha Education Loan
- PNB Udaan Education Loan
- PNB Concessional Education Loan
- PNB Kaushal Education Loan
- PNB Honhar Education Loan
- PNB Education Loan for Pursuing Higher Education for Students of Bihar
We looked at the first four yesterday and we look at the last four today.
Also, just as we mentioned in part 1 of this 2-part series, these two pieces have our opinions. You may not agree with these opinions but this is our blog and we have tried to write what we think is the truth. In other words, we are right now as intolerable as the Gyan Guru whose videos your parents share with you.
If you need more details, we have linked each loan to its specific page on our site. Click on it and check out what you need.
For your reference, the first part of this 2-part series is here.
Punjab National Bank Concessional Education Loan Scheme
This loan helps students in the Persons With Disabilities (PWD) category get an education loan. The bank gives the loan only if the applicant has 40% disability or more. And they should have secured admission into a recognised institute in India or abroad through merit-based selection.
Maximum loan amount is Rs. 10 lakh for studying in India and Rs. 20 lakh for studying abroad. This amount may be good for India but likely not for abroad. In most developed countries, the governments offer a lot of support to this category. In India, you will not find a well-designed wheelchair ramp in maximum Govt. hospitals. In other words, any PWD student should contact the college. They will likely offer more support than PNB or any of the many self-righteous governments in India.
PNB Kaushal Education Loan Scheme
Punjab National Bank offers loans up to Rs. 1.5 lakh under this scheme for students who wish to pursue skill development courses. This is the standard skill loan and is supposed to help meritorious students pursue technical courses run by Industrial Training Institutes (ITIs), polytechnics and other educational institutions affiliated to National Skill Development Corporation, Sector Skill Council, State Skill Corporation, etc.
In our opinion, a Rs 1,000 certificate course in software or other in-demand skill from an online course provider like Coursera presents much better job credentials than what an ITI or polytechnic can offer.
PNB Honhar Education Loan for Pursuing Higher Education & Skill Development Courses in Delhi
Punjab National Bank offers loans up to Rs. 10 lakh under this scheme for students who wish to pursue diploma or degree studies in Delhi and who have completed their Class 10 and 12 studies from the state. Children of Government of Delhi National Capital Territory (NCT) employees or officials and government servants who are posted in the NCT region also qualify for this loan.
We don’t know much about this loan. It looks good on paper but we wonder whether PNB bankers will push this loan forward to eligible candidates unless the applicants ask for it specifically.
PNB Education Loan for Pursuing Higher Education for Students of Bihar
Another state-government loan scheme likely dreamt up to win elections. This loan helps Bihar students who passed Class 12 and want to pursue higher studies in India to pay 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.
Again, we don’t know if a regular PNB banker will push forward this loan.
You can read the first part of this 2-part series here.
To wind up, a small message:
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