NSFDC is an institution under Ministry of Social Justice & Empowerment, Government of India for financing, facilitating and mobilizing funds for the economic empowerment of persons belonging to the Scheduled Castes families living below Double the Poverty Line. NSFDC finances income generation schemes for the target group through the State Channelising Agencies (SCAs) nominated by respective State/UT Governments
Education Loan:
NSFDC provides education loan to students who are pursuing full time Professional/Technical courses.
Educational Loan is meant to cover Admission Fees & Tuition Fees, Books, Stationery and other instruments required for the course, Examination Fee, Boarding Lodging expenses, Insurance premium for policy for insuring loanees against loan in case of death or permanent disability, Travel Expenses/Passage Money for studying abroad and Caution Money, Development Fund etc.
Eligibility:
Student(s) should be from the Scheduled Caste Community. The annual income of the student's family should be below Double the Poverty Line i.e. Rs 40,000/- p.a. in rural areas and Rs 55,000/- p.a. in urban areas.
What is the procedure to apply for NSFDC loan?
Quantum of Assistance and Interest Rate:
Student | Loan Amount | Interest Rate per annum | Recovery/Repayment Period | |
---|---|---|---|---|
SCAs | Student | |||
For student within India | Upto Rs 10.00 Lakh | 1.5% | 4% | Within 5 years in quarterly installment, including moratorium period. The moratorium period will be considered as six months after completion of the course or getting employment, whichever is earlier. However, the total currency of loan shall not exceed 10 years from the date of first disbursement. |
For Abroad students | Upto Rs 20.00 Lakh | 1.5% | 4% | Within 5 years in quarterly installment, including moratorium period. The moratorium period will be considered as six months after completion of the course or getting employment, whichever is earlier. However, the total currency of loan shall not exceed 10 years from the date of first disbursement. |
(0.5% rebate for Female Students)
Professional/technical courses covered by NSFDC Educational Loans:
- The Educational Loan is provided for the courses run by the recognized Educational Institutions. Presently it is provided for pursuing following full time professional/technical courses:-
- Full time Professional/Technical courses in the fields of Engineering, Medical, Dental, Management, Information Technology, Hotel Management, Architecture, Physiotherapy, Bio-Technology, Law, Education, Journalism etc.
- Professional courses like CA/ICWA/CS/AMIE/FIA/IETE.
- Higher education like Doctoral Studies leading to M.Phil/PhD from recognized institutions.
NSA in AP:
01. | A.P. Scheduled Castes Co-operative Finance Corporation Ltd. 5th floor, Damodaram Sanjeevaiah Samakshema Bhawan, Masab Tank, Hyderabad – 500 028 Telephone No: 040-23315970, 23321141, 23320747 |
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