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Education Loan
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Education Loan

Credit Line -1:
This scheme is only for the individual beneficiaries. The NMDFC extends educational loans with an objective to facilitate job oriented education for the eligible persons belonging to Minorities. Under this scheme, loan of up to Rs. 20.00 Lacs is available at the rate Rs. 4.00 Lacs p.a. for ‘technical and professional courses‘ of durations not exceeding five years. Further, for courses abroad, maximum amount of Rs.30.00 Lacs is available @ Rs.6.00 Lacs per annum for a course duration of maximum 5 years.

S. No.

 Parameters

Scheme Details

1.

 Loan Amount Maximum

Loan amount per beneficiary is: – Up to Rs.20.00 Lacs for ‘Professional &    Job Oriented Degree Courses’ in India with a maximum duration of 5 years @    Rs. 4.00 Lacs per annum -Up to Rs.30.00 Lacs for ‘Courses Abroad’ with a maximum duration of 5 years @ Rs. 6.00 Lacs per annum.

2.

 Rate of Interest for beneficiaries

3%p.a.

3.

 Rate of Interest for SCA

1%p.a.

4.

 Moratorium period

6 months after completion of the course or getting a job, whichever is earlier.

5.

 Delegated authority to SCA to sanction loan

SCAs are advised to sanction/disburse loan based on ground reality.

6.

 Repayment period for beneficiaries

5 years

7.

 Repayment period for the SCA

5 years

8.

 Means of FinancingNMDFC :  SCA :  Beneficiary contribution

90 : 5 : 5
Credit Line -2:
  RMFDCC extends educational loans with an objective to facilitate job oriented education for the eligible persons belonging to Minorities. Under the scheme an amount of up to Rs. 20.00 Lacs is available at the rate Rs. 4.00 Lacs p.a. for ‘technical and professional courses‘ of durations not exceeding five years. Further, for courses abroad, a maximum amount of Rs.30.00 Lacs is available @ Rs.6.00 Lacs per annum for course duration of maximum 5 years.

S. No.

 Parameters

Scheme Details

1.

 Loan Amount Maximum

Loan amount per beneficiary is: –  Up to Rs.20.00 Lacs for ‘Professional &    Job   Oriented Degree Courses’ in India with    a maximum duration of 5 years @ Rs. 4.00 –  Up to Rs.30.00 Lacs for ‘Courses Abroad’     with a maximum duration of 5 years @ Rs.     6.00  Lacs per annum.

2.

 Rate of Interest for beneficiaries for male beneficiaries Rate of Interest for beneficiaries for women

8%p.a.

5% p.a.

3.

 Rate of Interest for SCA

2% p.a.

4.

 Moratorium period

6 months after completion of the course or getting a job, whichever is earlier.

5.

 Delegated authority to SCA to sanction loan

SCAs are advised to sanction/disburse loan based on ground reality.

6.

 Repayment period for beneficiaries

5 years

7.

 Repayment period for the SCA

5 years

8.

 Means of Financing NMDFC :  SCA :  Beneficiary contribution

90 : 5 : 5