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PSB Skill Education Loan

PSB Skill Education Loan

Eligibility Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
Quantum of finance Loans will be in the range of Rs. 5,000/- to Rs. 150,000/-
Margin Nil
Rate of Interest Please click here For rate of interest
Security No collateral security to be taken for loans under the scheme. However, parent to execute loan document along with the student borrower as joint borrower.
Moratorium period Upon completion of the course, repayment will start after a moratorium period as indicated below:
Courses of duration upto 1 year upto 6 months from the completion of the course
Courses of duration above 1 year 12 months from the completion of the course
Loans upto 50,000 Upto 3 years
Loans between 50,000 to 1 lakh Upto 5 years
Loans above 1 lakh Upto 7 years
Processing charges Please click here For Processing fee

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