NEWS & ADVICE : EDUCATION LOANS
Interest subsidy scheme on education loans mandated on all banks
By Neelima Shankar
May 26, 2010
Print    Email    RSS   

All banks have been directed by the Government to implement interest subsidy scheme on education loans for unprivileged students who wish to pursue higher education.

The Government had been planning on implementing the interest rate subsidy since quite some time.

The Ministry of Human Resources and Development has generated a letter to the heads of all scheduled commercial banks wherein they have been asked to take appropriate measures in implementing the scheme so that the eligible students get a chance to avail higher education.

The scheme is made effective from academic year 2009-10, the HRD ministry said. A provision of Rs. 500 crore has been made for the scheme by the Government for the year 2010-11.

As per the scheme, student would be exempted from paying interest during the moratorium period.

Banks like Union Bank of India have come up with schemes benefitting students on a larger scale.


 


(Comments Posted : 320) Post Your Comments
1. i have taken 3 lacs education loan from syndicate bank in 2010-2015 period,i also apply for subsidy but nw i have to pay total amount of 4lacs7thousand rupees, the bank manager told that your subsidy amount is included in this this is too much i calculate the amount but include all 5 years interest. without any subsidy how do i know or claim for susidy amount or please refer me any contact no for more information
gaurav verma (Posted: Apr 28, 2016)
2. HOW I GOT MY LOAN FROM THIS GREAT COMPANY Hello my dear people , I am Anita metch, currently living in New jersey city, USA. I am a widow at the moment with three kids and i was stuck in a financial situation in April 2015 and i needed to refinance and pay my bills. I tried seeking loans from various loan firms both private and corporate but never with success, and most banks declined my credit ,do not full prey to those hoodlums at there that call them self money lender they are all scam , all they want is your money and you well not hear from them again they have done it to me twice before I met Mr. Robert Smoak the most interesting part of it is that my loan was transfer to me within 74hours so I will advice you to contact Mr. Robert Smoak if you are interested in getting loan and you are sure you can pay him back on time you can contact him via email.(robertsmoakloanfunds@gmail.com or robertgriffinloanfunds@outlook.com) No credit check, no co signer with just 2% interest rate and better repayment plans and schedule if you must contact any firm with reference to securing a loan without collateral then contact Mr. Robert Smoak today for your loan They offer all kind of categories of loan they Short term loan (5_10years) Long term loan (20_40) Media term loan(10_20) They offer loan like Home loan............., Business loan........ Debt loan ....... Student loan..........,Business start up loan Business loan....... , Company loan.............. etc Email..........(robertsmoakloanfunds@gmail.com or robertgriffinloanfunds@outlook.com ) When it comes to financial crisis and loan then Robert Smoak loan financial is the place to go please just tell him I Mrs. Anita Metch direct you Good Luck
Anita Metch (Posted: Apr 21, 2016)
3. Hello,

This email is to inform you of the loan offer that is currently going on in BUSINESS DEBT SOLUTIONS, we are currently giving out fast and easy loan to serious and interested applicant, we offer loan of all kind and of any amount, with a very low percent interest rate, with an online transaction and bank to bank transfer wiring method. apply today by emailing us in our email address: (businessdebtsolutions@outlook.com) apply and get your loan you will be glad you did.
Email: businessdebtsolutions@outlook.com

Regards
Oliver Scotwest (Posted: Mar 23, 2016)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Claim tax deduction on education loan
Collateral and co-applicant requirements...
Carnival of Indian Personal Finance Blogs #3
Complete Guide to NRI Education loan
Manage your loans, avoid recovery agents


get your love back by sastriji call +917426099445...
get your love back by sastriji call +917426099445...
Why Pitampura Tutors (Ph:- 9911742311) & Private...
kala jadu in hindi 9636854282
BB:-O9915682OO2 CaℒL Giℛℒs In Ludhiana...

NEWS THIS WEEK
Banks to look forward to hire students from IIT/IIM Feb 18, 2015
Union Bank of India hiring for the post of specialist officers Feb 16, 2015
Canara bank launched scholarship Scheme Feb 13, 2015
AXIS bank started ‘My idea of progress’ Campaign Feb 12, 2015
RBI inviting applications for the guard post Feb 11, 2015
News Archive