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To extend Education Loan to the students of Backward Classes for pursuing professional or technical education at graduate and higher level.


  • Members of Backward Classes, as notified by Central Government/ State Governments from time to time.
  • The annual family income of the applicant is fixed as Rs.3.00 Lakh. The SCAs/Banks are requested to release atleast 50% of total funding to persons with annual family income upto Rs.1.50 Lakh..
  • The applicant should have obtained admission for any professional courses approved by appropriate agency such as AICTE, Medical Council of India, UGC etc..

Courses Covered

All professional and technical courses at graduate and higher level approved by appropriate authority such as AICTE, Medical Council of India, UGC etc.

Purpose of Loan

Admission Fee & Tuition Fee; Books; Stationery & other instruments required for the course; examination fee; boarding & lodging expenses; insurance premium for policy during the loan period and travel expense/passage money for studying abroad.

Maximum Loan Limit

90% of the expenditure of the course subject to maximum loan limit of Rs.10.00 Lakh per student (for studying within India) & 85% of the expenditure of the course subject to maximum of Rs.20.00 Lakh per student (for studying abroad), the balance will be borne by student/ SCAs.

Rate of Interest

From NBCFDC to SCA 1.0% p.a. *
SCA to beneficiary 4% p.a. **

** Girls students will get Education Loan at special concessional rate of interest @ 3.5% p.a.

Repayment Period

The moratorium, besides being co-terminus with the course for which loan has been obtained by the students, will have a further six months period for starting repayment after the completion of the course.

Security & Monitoring of Education Loans

The SCAs would ensure security of loan, tracking of beneficiaries' students and their monitoring during the loan period. The Education Loan Scheme would envisage providing Education Loan to the eligible students pursuing their higher professional courses in approved institutions only.

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Last Updated On : 2019-06-04 10:42:33