Students should be Indian National. Secured admission in select Premier Educational Institutions in India, through Entrance Test /Selection process.
Courses covered
Regular full time Degree/Diploma courses (certificate / part-time courses not covered). Full time Executive Management courses like PGPX (For IIMs) are also covered.
No concession for servicing of interest during study/ moratorium period. No other concession will be available.
Margin
NIL
Security
No collateral Security
Parents/Guardians to join as Co- borrowers
Assignment of future income
Repayment period
Moratorium up to course period plus 1 year. Repayment period : 15 years from the date of commencement of repayment
Expenses covered
Fees payable to college / school / hostel / Examination / Library Fees. / Purchase of books / equipment / instruments. Purchase of computer / laptop Any other expenses related to education.
Coverage under Credit Guarantee Funds Scheme for Education Loans (CGFSEL)
All Educational Loans upto Rs.7.50 lacs conforming to the guidelines of “IBA Model Education Loan Scheme for pursuing studies in India and Abroad” are eligible for coverage under CGFSEL by National Credit Guarantee Trustee Company(NCGTC)
All other terms & conditions as per star education loan scheme.
Students may also apply online on Vidya Lakshmi Portal developed by NSDL e-Governance Infrastructure Ltd.
To apply on line on Vidya Lakshmi Portal click here
