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Interest subsidy scheme on education loans mandated on all banks
Hi Sir,


My name is Murali.V I have taken Education loan from Canara Bank for my B.E Course in the year 2005. As per the Central Scheme of Interest Subsidy for Educational Loans announced by our Finance Minister on 17th Feb 2014, the Outstanding Interest Component on the Loan will be waived off as on 31.12.2013.

When I approached the Canara Bank Branch (Vaniyamabadi, Tamil nadu)where I availed the Loan, the Manager said that they have not received any official statement from the Canara Bank higher authorities to proceed on waiving off the Interest and also he said that the subisdy amount will be directly credited to my Loan Account and I dont have to submit any documents to avail the subsidy. Manager said the subsidy will be handled directly by the Regional and I dont have to visit the Branch.

Note: My Family Income is less than 1 Lakh and am eligible to avail the Subsidy. I have also submitted the Income Certificate while availaing the Loan.

When I cheked with the Canara Bank, Main Office Bangalore they are telling July 15th 2014 is the last date to Avail Subsidy and I have to fill some forms in the Branch office and submit the supporting documents to avail the Loan Subsidy. But in Branch they are telling that I dont have to submit any documents. Please guide us on how to avail the Subsidy.
Murali (Posted: Jul 11, 2014)
Sir,

I have taken Education loan in 2007. i paid interest for last four years. Am asked to bank for interest subsidy. but they are replied as they did't get any notice like that. how can i get subsidy. can you please help me..
ponmani (Posted: Jul 11, 2014)
sir,
from Aug 2007 to nov 2009 i took educational loan from SBI. Currently i am making repayments. i am willing to get educational loan subsidy. Whom should i contact or where should i apply?
sourav paul (Posted: Jul 11, 2014)
sir,
from Aug 2007 to nov 2009 i took educational loan from SBI. Currently i am making repayments. i am willing to get educational loan subsidy. Whom should i contact or where should i apply?
sourav paul (Posted: Jul 11, 2014)
Hi Sir,

I have taken educational loan in 2008 we didnt pay the interest during my course. i started paying in Nov 2013. Whether i am applicable to get the interest subsidy.
Ambika (Posted: Jul 10, 2014)
sir i had taken education loan 3.56 lacs
during sept 2009 to 2013 from bob. can i get subsidy according to budget 2014-15.
Anand kumar Gupta (Posted: Jul 7, 2014)
Dear sir,
I have taken education loan 1,35,000 on Oct 2008 from Syndicate Bank.From the day I have taken the Loan I was paying interest every month without missing.As of now I have been paid around 90000/- Rs .
so recently announced by the central govt interest subsidy scheme. I'm eligible or not kindly let me know. then how to process for that moratorium.
If any thing else kindly inform to me.

Kotareddy P.
KOTAREDDY P (Posted: Jul 7, 2014)
sir
i have taken loan of 2 lakh from pnb which i want to pay back at once..what is the procedure for it and whether interest subsidy 2014 announced in interim budget is implemented and how i will be benifited by it?/
plzz help
khalid (Posted: Jul 7, 2014)
Sir.I had taken loan amount Rs.1,64,000 during the period of June 2011-June 2012.I completed my Course May,2013 ..I already got subsidy Rs,10000 from my bank .I\\\'m poor family and My Family annual income is Rs.24,000.That income statement also submit My Bank during this period of i got loan amount.Please consider myself and help me sir...

Thanks and regards
By Nithya
Nithya (Posted: Jul 7, 2014)
Sir.I had taken loan amount Rs.1,64,000 during the period of June 2011-June 2012.I completed my Course May,2013 ..I already got subsidy Rs,10000 from my bank .I\'m poor family and My Family annual income is Rs.24,000.That income statement also submit My Bank during this period of i got loan amount.Please consider myself and help me sir...

Thanks and regards
By Nithya
Nithya (Posted: Jul 7, 2014)
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