Education Loan Scheme
Ministry: Ministry Of Social Justice and Empowerment
Department: Department of Social Justice & Empowerment
A scheme named Education Loan Scheme by National Scheduled Castes Finance and Development Corporation (NSFDC) under the M/o Social Justice and Empowerment provides loans to students from Scheduled Castes who are pursuing full-time professional or technical courses in recognized institutions.
About This Scheme
Benefits
₹30.0 L
1. Maximum Loan Limit: Up to ₹30 lakhs (for studies in India) and upto ₹40 lakhs (for studies abroad) or 90% of course fee, whichever is less. 1. Rate of Interest:
₹30.0 L
For studies in India, upto ₹30 lakhs or 90% of course fee, whichever is less. The rate of interest for male candidates is 6% whereas for female candidates it is 5.5%. The repayment period must be within 10 years for loan upto Rs.10 lakh.
₹40.0 L
For studies abroad, upto ₹40 lakhs, or 90% of course fee, whichever is less. The rate of interest for male candidates is 7% whereas for female candidates it is 6.5%. The repayment period must be within 12 years for loan upto ₹10 lakhs.
The Moratorium Period is 6 months after course completion or getting employment, whichever is earlier in both the cases.
Eligibility
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Required Documents
- ✦Proof of Identity (Aadhaar Card)
- ✦Passport Sized Photograph
- ✦Proof of Educational Qualification (Passing Certificate / Marksheet)
- ✦Caste Certificate (issued by the relevant authority of District Administration).
- ✦Annual Family Income Certificate on self-certification of the beneficiaries with the endorsement of the same by any Gazetted Officer notified by the State/Central government.
- ✦In the case of a loan being applied at the Bank (Channel Partner), Self-Certification assessed and endorsed by the Branch Manager can be treated as valid proof.
- ✦Bank Details of the Applicant.
✦ Required ◦ Optional
How to Apply
Quick Info
- Level
- Central Government
- Max benefit
- ₹40.0 L
