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 |
|
| Repayment |
| 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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