Education Loan

Loan for continuing education

The loan product is designed to cater to the need of rural poor who are finding it difficult to send their wards for completing ITI/ Diploma / Graduation degree in Government colleges only.

Eligibility

Wards of SHG group members who have availed General purpose loan once

Quantum of loan

The maximum loan amount under the scheme is Rs.15000/- and if the ward stays in a hostel the maximum loan will be Rs.25000/- subject to cash flow of the household.

Tenure of the loan

Based on the cash flow of the household with a maximum of 36 months with a gestation period of 4 months in case house construction.

Tenure of the loan

The loan needs to be repaid within a maximum period of 24 months in monthly instalments.

Interest rate

• Loan is with interest rate of 24%
• Interest is not compounded and on reducing balance.