Concessional rate of interest for Education Loan obtained by SC Students
NSFDC is an institution under Ministry of Social Justice & Empowerment, Government of India for financing, facilitating and mobilizing funds for the economic empowerment of persons belonging to the Scheduled Castes families living below Double the Poverty Line. NSFDC finances income generation schemes for the target group through the State Channelising Agencies (SCAs) nominated by respective State/UT Governments
Education Loan:
NSFDC provides education loan to students who are pursuing full time Professional/Technical courses.
Educational Loan is meant to cover Admission Fees & Tuition Fees, Books, Stationery and other instruments required for the course, Examination Fee, Boarding Lodging expenses, Insurance premium for policy for insuring loanees against loan in case of death or permanent disability, Travel Expenses/Passage Money for studying abroad and Caution Money, Development Fund etc.
Eligibility:
Student(s) should be from the Scheduled Caste Community. The annual income of the student’s family should be below Double the Poverty Line i.e. Rs 40,000/- p.a. in rural areas and Rs 55,000/- p.a. in urban areas.
What is the procedure to apply for NSFDC loan?
The applicants should contact the SCAs if they wish to avail NSFDCs loans. The SCAs have officers in every District/Region. The applicants are required to submit application in NSFDC's format with details of business and copies of caste, income, experience at the district office. Offices of these agencies exist in every district where details of business and caste, family income, professional experience and documents related to activity are to be filled in NSFDC's format and submitted at the District Office. Name and contact numbers of State-wise SCAs is given at the end of FAQ.
List of NSAs: Download/view
Quantum of Assistance and Interest Rate:| Student | Loan Amount | Interest Rate per annum | Recovery/Repayment Period | |
|---|---|---|---|---|
| SCAs | Student | |||
| For student within India | Upto Rs 10.00 Lakh | 1.5% | 4% |
Within 5 years in quarterly installment, including moratorium period. The moratorium period will be considered as six months after completion of the course or getting employment, whichever is earlier. However, the total currency of loan shall not exceed 10 years from the date of first disbursement.
|
| For Abroad students | Upto Rs 20.00 Lakh | 1.5% | 4% |
Within 5 years in quarterly installment, including moratorium period. The moratorium period will be considered as six months after completion of the course or getting employment, whichever is earlier. However, the total currency of loan shall not exceed 10 years from the date of first disbursement.
|
(0.5% rebate for Female Students)
Professional/technical courses covered by NSFDC Educational Loans:
- The Educational Loan is provided for the courses run by the recognized Educational Institutions. Presently it is provided for pursuing following full time professional/technical courses:-
- Full time Professional/Technical courses in the fields of Engineering, Medical, Dental, Management, Information Technology, Hotel Management, Architecture, Physiotherapy, Bio-Technology, Law, Education, Journalism etc.
- Professional courses like CA/ICWA/CS/AMIE/FIA/IETE.
- Higher education like Doctoral Studies leading to M.Phil/PhD from recognized institutions.
0 comments:
Post a Comment