What you get
- Loan Amount: The maximum loan limit for this scheme is up to ₹10,00,000/-. | - Included Expenses: The loan amount will include the following: | - Admission and tuition fees | - Expenses for books, uniforms, essential materials, and exam fees | - Accommodation and food expenses | - Insurance – Policy premium | - Interest Rate: | - 4% per annum for male students | - 3.5% per annum for female students | - Contribution: | - 90% contribution from the Central Corporation, | - 5% from the State Government, | - 5% from the beneficiary | - Repayment Period: | - The loan will have to be repaid in 60 equal monthly installments including interest. | - The loan will be recovered within 6 months of completion of the course or upon getting a job, whichever is earlier.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
What is the objective of the scheme?
This scheme provides educational loans for students pursuing higher professional and technical education at the graduate and postgraduate levels.
Who are the beneficiaries of this scheme?
The scheme is specifically for students belonging to nomadic or denotified castes.
What types of expenses does the loan amount cover?
The loan covers admission fees, tuition fees, books, writing materials, necessary equipment, examination fees, accommodation, food expenses, and insurance policy premiums.
What is the annual interest rate for this scheme?
4% per annum for male students and 3.5% per annum for female students.
What is the contribution for this scheme?
The scheme has a 90% contribution from the Central Corporation, 5% from the State Government, and 5% from the beneficiary.
How long do I have to repay this loan?
This loan will have to be repaid in 60 equal monthly instalments, including interest.
What type of educational courses are eligible for this scheme?
Eligible courses include an MBA or its equivalent, an MCA or its equivalent, IIT/AICTE-approved graduate-level engineering, approved professional graduate-level courses, medical education from an MCI-recognised college, and Nursing Diploma courses.
What details about my family's occupation and income are needed?
You need to provide details of the business/job/occupation and total income of your father/husband/guardian and your mother.
What educational qualification details do I need to provide?
You should provide details for SSC, HSC, Diploma, Graduation, and Post Graduation, including Board/University name, main topic, academic year, percentage, and attempt number for each.
What information about my university and course should I provide?
You need to provide the name of the college admitted, the affiliated university, the course name, course duration, the date of admission, and the year/semester for which you are seeking the loan.