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
There is no restriction with regard to the age of the student to be eligible for the loan.
As required by the enrolling institutions/organizations as per NSQF.
Quantum of Finance
Need based finance to meet subject to the following ceilings :
5% Margin should be taken.
No Processing fee.
No collateral or third party guarantee will be taken. However, loan is covered under Credit Guarantee Scheme of NCGTC.
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 further details please contact our nearest branch or call on the toll free no. 1800 22 1911
- 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%)