Education Loan
Description:
Description: Maximum Rs.16 lakh for study within the country and Rs.18 lakh for study in abroad Education loan is provided for pursuing professional courses like Medical, Engineering, Management, Nursing and Law etc. Repayment of the loan with interest @3 % p.a. in quarterly installments after 6 months of completion of the course or employment, whichever is earlier.The loan is provided subject to the availability of funds.
Eligibility Criteria:
1. Candidate(s) must be from notified minority Communities (Christian, Buddhist, Jain, Muslim, Parsi & Sikh) and domiciled of West Bengal.
2. Age group 16-32 years.
3. Applicant must be pursuing Professional/Technical courses from a recognized institute in India or in Abroad in regular mode.
4. Applicant must have obtained 70% or 75% marks in their previous qualifications in regular mode to avail education loan for domestic or abroad purposes respectively.
a. For graduation level course, higher secondary (10+2) or its equivalent marks are required.
b. For post-graduation level course, graduation level marks are required.
5. Yearly family income must be within 8 lakh to be eligible for education loan.
a.3% interest will be charged whose family income is within Rs.3,00,000/- per annum (rural/urban). For others, rate of interest will be 8% for boys and 5% for girls.
6. Duration of course should be more than one year.