The Scheme Extends a Helping hand to Meritorious students desirous of pursuing basic/higher/professional/technical education either in India or abroad.

Eligibility

Student should be an Indian National
Secured admission to professional / technical courses in India or abroad through entrance Test / Merit Based Selection process

Courses Eligible

Studies Abroad

Graduation For job oriented professional/technical courses offered by reputed universities.
Post Graduation MCA,MBA,MS etc.
Courses conducted CIMA-Londin, CPA in USA etc.

Documents to be Submitted
Admission form, document proof of eligibility, expenditure

Maximum Amount of Loan
Studies Abroad : Maximum Rs. 15.00 Lac.

Security

Upto Rs. 4.00 lac : No Security
Above Rs. 4.00 lac & : Collateral in the form of a suitable third party
Upto Rs. 7.5 lac guarantee


Rate of Interest :

Loan Upto Rs.4 Lac : BPLR (-) 1.00
Loan Above Rs.4 Lac & Upto Rs.10 lac : BPLR (-) 0.50%
Above Rs.10 Lac & Upto Rs.20 lac : BPLR

Repayment

Repayment holiday/Moratorium :
Course period + 1 year or 6 months after getting job, whichever is earlier

The loan is to be repaid in 5-7 years after commencement of repayment.

If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years.