EDUCATIONAL LOAN SCHEME

Under Education Loan Scheme, loan is provided for pursuing full-time Professional/Technical courses in recognized institutions as one time assistance. The Educational Loan shall cover Admission Fee, Tuition Fee, Books, Stationery, Equipment, Examination Fee, Hostel and Mess Expenses, Insurance Premium for Policy for insuring loanees against loan in case of death or permanent disability, Travel Expenses/Passage Money including Visa Expenses for studying abroad, Caution Money, Development Fund, Clothing Allowance including weather protective clothing in extreme climate (in case of foreign study).

Maximum Loan Limit: Up to Rs.30.00 lakh (for studies in India) and upto Rs.40.00 lakh (for studies abroad) or 90% of course fee, whichever is less.

Rate of Interest:

• For studies in India- NSFDC shall charge interest @ 2% per annum from the SCAs, which in turn, shall charge 6% per annum from the beneficiaries. In case of women beneficiaries, an interest rebate of 0.5% is provided.
• For studies abroad- NSFDC shall charge interest @ 3% per annum from the SCAs, which in turn, shall charge 7% per annum from the beneficiaries. In case of women beneficiaries, an interest rebate of 0.5% is provided

Repayment Period: The maximum repayment period under the Educational Loan Scheme is as under:-

For Loan up to Rs.10.00 lakhs within 10 years

For Loan above Rs. 10.00 lakhs within 12 years

Professional/Technical Courses Covered:

Educational Loan shall be provided to eligible students for pursuing regular full time Professional / Technical recognized courses approved by the Government in the following fields in India or abroad :

1. Engineering (Diploma/ B.Tech /B.E, M.Tech/M.E.)
2. Architecture (B.Arch/M.Arch)
3. Medical (MBBS/MD/MS)
4. Biotechnology/Microbiology/Clinical Technology (Diploma/Degree)
5. Pharmacy (B.Pharma/M.Pharma)
6. Dental (BDS/MDS)
7. Physiotherapy (B.Sc./M.Sc.)
8. Pathology (B.Sc/M.Sc.)
9. Nursing (B.Sc./M.Sc.)
10. Information Technology (BCA/MCA)
11. Management (BBA/MBA)
12. Hotel Management & Catering Technology (Diploma /Graduation/Post Graduation)
13. Law (LLB/LLM)
14. Education (CT/NTT/B.Ed/M.Ed)
15. Education (CT/NTT/B.Ed/M.Ed)
16. Physical Education (C.PEd./B.PEd/ M.PEd)
17. Journalism & Mass Communication (Graduation/Post Graduation)
18. Geriatric Care (Diploma/Post Graduate Diploma)
19. Midwifery (Diploma)
20. Laboratory Technician (Diploma)
21. Chartered Accountancy (CA)
22. Cost Accountancy (ICWA)
23. Company Secretaryship (CS)
24. Actuarial Sciences (Graduation/ Post Graduation/FIA)
25. Associate Member of Institute of Engineers (AMIE) and Institute of Electronics & Telecommunication
26. Higher education like Doctoral Studies leading to M.Phil/PhD from recognized institutions.