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

My name is Mohanraj.V I have taken Education loan Rs.102000 from Syndicate 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 Syndicate Bank Branch (Tamilnadu) where I availed the Loan, the Manager said that they have not received any official statement from the Syndicate Bank higher authorities to proceed on waiving off the Interest and also he said that the subsidy amount will be directly credited to my Loan Account and I don't have to submit any documents to avail the subsidy. Manager said the subsidy will be handled directly by the Regional and I don't 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 availing the Loan.

Please guide us on how to avail the Subsidy.
V.Mohanraj (Posted: Nov 10, 2014)
Hi Sir,

My name is Mohanraj.V I have taken Education loan from Syndicate 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 Syndicate Bank Branch (Tamilnadu) where I availed the Loan, the Manager said that they have not received any official statement from the Syndicate Bank higher authorities to proceed on waiving off the Interest and also he said that the subsidy amount will be directly credited to my Loan Account and I don't have to submit any documents to avail the subsidy. Manager said the subsidy will be handled directly by the Regional and I don't 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 availing the Loan.

Please guide me on how to avail the Subsidy.
V.Mohanraj (Posted: Nov 10, 2014)
Dear Sir,
i have taken Education loan in August 2009 worth Rs. 240000 and now i wants to close my Education loan Account and for that wants to know how much interest subsidy is pending from Gov. to my Account. because it is credited one installment in past few month. so i wants to know how much total amount is receivable from Gov. and if i close the loan then can i got that subsidy in my saving account by check or not?
and please also let me know from where i got all these information regarding pending subsidy installments.

Looking for your reply,

Regards:-
Ghanshyam
Ghanshyam (Posted: Nov 6, 2014)
sir, i have avail edu loan in 2005 from boi for mbbs corse rs 750000/ out of which rs 11500/where disb after 1/4/2009 and int subsidy on that rs.11500/ rs 869/recd. than i have secured admission in ms ,so moratium period extended ,no further loan for ms (i e post graduation) WAS TAKEN. AS ON NOW NO REPAYMENT STARTS and also int is not capitalised. ifeel i am eligible for int outstanding as on 31/12/2013.so i contected boi but they interprited that i am not eligible for subsidy because i got subsidy once.(rs 869/ on disb after 1/4/2009-) BUT as per seheme onces means student is eligible for either graduation or post graduation once.so please guide me and suggest what i shoud do my loan a/c no is 312072200000552 yours faithfully-bharat popat
bharat popat (Posted: Oct 15, 2014)
sir i have taken loan Coporation bank in 2007 to 2010 Capital amount 1,80,000 till i paid rupees 1,40,000 but my balance amount now 1,85,000 interest subsidy given only 7,000 so pls let me know actual subsidy amount Government announced full interest subsidy but i got 7,000 rupees
Gobinath (Posted: Oct 13, 2014)
hi ,i hav taken education loan of 1,60,000 from sanctioned 2lac rupeesin nov 2008.and 40,000 rupees deducted for interest from sanctioned amount during my studies period itself.now i am paying remaining amount by instalments. am i eligible for repay of interest amount what i hav paid.
jyothsna (Posted: Oct 9, 2014)
sir i have taken loan of 1.90 lakh from Coporation bank in september 2009 for MCA.my income is below 1 lakh at that time but got subsidy for that year only.and i was also asked to pay interest after the course and i paid around 60 thousand up to at the time.but now interest of 60 thousand around is added to the original amount.so please tell me how to claim for subsidy.
Manish Kumar (Posted: Sep 27, 2014)
sir,
i have taken 235000 rs, from pnb in the year 2008 and my financial position is week .i completed my course in 2011, i have no job job right now ,sir am i eligible for the interest subsidy scheme, pls help me sir....
thanks
Rovin kumar (Posted: Sep 18, 2014)
My name Mrs Grace i applied for a loan of 15000usd from a scam pretend to be a loan lender he rip me off the some of 2000usd,i was totally frustrated so a good friend of my from UK told me how she was rescued when she was scam by the same lenders so she testify to me how she was rescued from a loan lender called Mr Razaq Azeez who gave a loan amount of 30000usd and i am now a family of 2 and i am happy today God will bless him more and more so contact him so that he can also give you loan amount you need here is the email: razaqazeezloanfirm @ outlook.com
James (Posted: Sep 17, 2014)
My name Mrs Grace i applied for a loan of 15000usd from a scam pretend to be a loan lender he rip me off the some of 2000usd,i was totally frustrated so a good friend of my from UK told me how she was rescued when she was scam by the same lenders so she testify to me how she was rescued from a loan lender called Mr Razaq Azeez who gave a loan amount of 30000usd and i am now a family of 2 and i am happy today God will bless him more and more so contact him so that he can also give you loan amount you need here is the email: razaqazeezloanfirm@outlook.com
James (Posted: Sep 17, 2014)
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