Central Scheme of Interest Subsidy for Educational Loans for inland studies

 

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Central Scheme of Interest Subsidy for Educational Loans

An initiative to help students from Economically Weaker Sections

CANARA BANK, Nodal Bank to administer subsidy to scheduled banks.

One of the major concerns of the Government of India is to ensure that nobody is denied professional education because he or she is poor. Indian Banks Association (IBA) has formulated a comprehensive model educational loan scheme for adoption by all Banks. In order to support students from Economically Weaker Sections of the Society, Department of Higher Education, Ministry of Education,Government of India has launched this interest subsidy scheme.

Eligibility:

1. Only for Educational Loans availed from Scheduled Banks for pursuing any of the approved courses after Class XII in Technical and Professional streams from recognized institutes in India under the Educational Loan Scheme of IBA.

2. Students belonging to Economically Weaker Sections with annual gross parental/family income from all sources with an upper limit of Rs.4.50 lacs.Certificate to this effect issued by authorized officers of State Government is to be submitted.

3. Full interest subsidy on the loan amount upto Rs.10.00 Lakhs is available for the period of moratorium i.e. Course Period plus 1 year.

Eligible students have to contact branches where they have availed/availing loans for further details.

Canara Bank
PM-Vidyalaxmi Portal Section,
Retail Assets Vertical,
Retail Credit Wing,
Head Office (Annex.),
Ground Floor, Scope Minar,
Laxmi Nagar, Delhi - 110092
Email: hogsw@canarabank.com;hogps@canarabank.com
Website: www.canarabank.bank.in

Guidelines for Central scheme of interest subsidy for Education Loan (CSIS)  w e f 01.04.2022 (.pdf - 228.23 KB)

Guidelines for Central scheme of interest subsidy for Education Loan (CSIS)  w e f 01.04.2018 (.pdf - 1.58 MB)

GUIDELINES FOR PROVIDING RELIEF ON INTEREST OUTSTANDING COMPONENT AS ON 31.12.13 FOR ALL EDUCATIONAL LOANS SANCTIONED/AVAILED UP TO 31.03.2009 & OUTSTANDING AS ON 31.12.2013 (.pdf - 166.2 KB)

INCOME CERTIFICATE ISSUING AUTHORITY IN EACH STATE (.pdf - 55.7 KB)

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