Education Loan Scheme
in Chhattisgarh
Last updated:
Education Loan Scheme in Chhattisgarh
Education Loan Scheme is a government scheme available to eligible residents of Chhattisgarh.
Apply for Education Loan Scheme in Chhattisgarh
Scheme Overview
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 students from Scheduled Castes who are pursuing full-time professional or technical courses in recognized institutions.
Eligibility Criteria
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.
Benefits
**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.
Required Documents
| # | Document |
|---|---|
| 1 | Proof of Identity (Aadhaar Card) |
| 2 | Passport Sized Photograph |
| 3 | Proof of Educational Qualification (Passing Certificate / Marksheet) |
| 4 | Caste Certificate (issued by the relevant authority of District Administration). |
| 5 | Annual Family Income Certificate on self-certification of the beneficiaries with the endorsement of the same by any Gazetted Officer notified by the State/Central government. |
| 6 | In the case of a loan being applied at the Bank (Channel Partner), Self-Certification assessed and endorsed by the Branch Manager can be treated as valid proof. |
| 7 | Bank Details of the Applicant. |
Common questions in Chhattisgarh
Who can apply for Education Loan Scheme in Chhattisgarh?
Eligible residents of Chhattisgarh who meet the scheme’s overall criteria can apply for Education Loan Scheme. Refer to the eligibility section above for the complete checklist.
What documents are required for Education Loan Scheme in Chhattisgarh?
Applicants in Chhattisgarh typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The full-form of NBCFDC is "National Backward Classes Finance And Development Corporation".