The scheme is put into action with a view
to make available financial assistance to the needy and deserving students
of excellent academic record so as to enable them to continue higher
studies in India or abroad either in diploma/graduation or post graduation
level in Arts, Science, Commerce, Management, Medicine and Engineering.
The applicant must be an Indian citizen willing to enrol himself/herself
in one of the following courses the teaching of which is imparted in an
educational institution recognised by the government, or a . university in
India or aborad.
|| Academic courses such as Diploma,
undergraduate/ postgraduate courses in Arts,
Science and Commerce etc.
such as Diploma, undergraduate/ postgraduate courses in Engineering, Medicine, Dental
Science, Agricultural Science, Veterinary Science,
Computer Science, Nursing, Pharmacy, Business Administration, Law etc.
Type of Loan
Term loan. In order to facilitate
flexibility in operation, future debits on account of recurring expenses
in each semester/year can be made to this account.
Nil for courses in India and 10% for
|| For study in India: 0.50 lakh to 5.00 lakhs.
|| For study abroad: 2.00 lakhs to 10.00 lakhs.
Rate of Interest
Upto Rs. 2 lakhs: PLR + IT. Above Rs. 2 lakhs. Upto and including Rs. 5
lakhs: PLR + 1 + IT. Above Rs. 5 lakhs and upto and including Rs. 10 lakhs:
PLR + 2 + IT.
Within one year after the completion of the course, or after the student
gets a job, whichever is earlier.
for the course completion:
for repayment after the course is completed: 5 years. Therefore, maximum
period for which the loan is granted is 11 years and the minimum period is