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 student...
Key details
Department / Ministry: Ministry Of Social Justice and Empowerment
**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:**
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.
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 (who can apply)
The beneficiary (ies) should be from the Scheduled Caste Community.
Individuals, Partnership Firms, and Co-operative Societies can undertake income-generating activities.
The annual family income of each member/applicant should not exceed Rs.3.00 lakh.
Applicants must apply for financial assistance from NSFDC through the concerned State Channelizing Agencies (SCAs)/Channelizing Agencies (CAs).
Annual family income of the applicants should be within Rs.3.00 lakhs (for both rural and urban areas w.e.f. 08.03.2018) under Credit Based Schemes.
There is no income criterion under Skill Development Training Programmes.
How to Apply
**Online**
Click on official [**website**](https://nsfdc.nic.in/en/educational-loan-scheme) to apply for the scheme.
Fill the Education Loan Application Form with all the details.
Click on Submit.
**Offline**
Download the**** [**application form**](https://nsfdc.nic.in/UploadedFiles/other/2023-10-09/els%20loan%20format.pdf) for this scheme.
Fill out the application form, enclose the documents, and submit them to the nearest bank or in the office of NSFDC.
Frequently Asked Questions
Who is eligible for Education Loan Scheme / what is the eligibility?
1. The beneficiary (ies) should be from the Scheduled Caste Community.
1. Individuals, Partnership Firms, and Co-operative Societies can undertake income-generating activities.
1. The annual family income of each member/applicant should not exceed Rs.3.00 lakh.
1. Applicants must...
What are the benefits of Education Loan Scheme?
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:**
- For studies in India, upto ₹30 lakhs or 90% of course fee, whichever is less. The rate of interest for male ca...
How to apply online for Education Loan Scheme?
**Online**
1. Click on official [**website**](https://nsfdc.nic.in/en/educational-loan-scheme) to apply for the scheme. 1. Fill the Education Loan Application Form with all the details. 1. Click on Submit.
**Offline**
1. Download the**** [**application form**](https://nsfdc.nic.in/Upl...