Student Eligibility:
The student should be an Indian National and should have secured admission in a course run Govt Organization or supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations, preferably leading to a certificate / diploma / degree, etc. issued by a Govt. organization or an organization recognized / authorized by the Govt. to do so
Minimum Age:
There is no restriction with regard to the age of the student to be eligible for the loan.
Minimum Qualification:
As required by the enrolling institutions/organizations as per NSQF.
Quantum of Finance
Need based finance to meet subject to the following ceilings :
Minimum----------------Rs. 50000.00
Maximum----------------Rs.150000.00
Margin:
5% Margin should be taken.
Processing Charges:
No Processing fee.
Security:
No collateral or third party guarantee will be taken. However, loan is covered under Credit Guarantee Scheme of NCGTC.
Repayment:
The loan will be repaid after the moratorium period in Equated Monthly Instalments (EMIs) as follows:
- Loans upto Rs.50,000/- - Upto 3 years
- Loans between Rs.50,000/- to Rs. 1 lakh - Upto 5 years
- Loans above Rs. 1 lakh - Upto 7 years.
Rate Of Interest:
REPO BASED LENDING RATE (RBLR)
- For Low Risk category : REPO+ 4.65 % + 0.00 % = 8.65 %
- For Medium Risk Category : REPO+ 4.65% + 0.05% = 8.70 %
( REPO RATE 4.00%)
For further details please contact our nearest branch or call on the toll free no. 1800 22 1911