{"id":11390,"date":"2024-04-06T17:58:25","date_gmt":"2024-04-06T12:28:25","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=11390"},"modified":"2024-04-08T15:48:48","modified_gmt":"2024-04-08T10:18:48","slug":"indian-army-education-loan","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/","title":{"rendered":"Indian Army Education Loan: Features, Interest, Eligibility"},"content":{"rendered":"\n<p>Indian Army education loan scheme provides financial assistance to Indian Army personnel to pursue higher education in India and abroad. They can use these funds to finance undergraduate and post-graduate studies in government-recognised colleges and universities.&nbsp;<\/p>\n\n\n\n<p>The interest rate on Indian Army education loans is low and competitive. To learn more about the maximum loan amount, interest rates, eligibility criteria and documents required, read on.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-highlights-of-indian-army-education-loan\" data-level=\"2\">Highlights of Indian Army Education Loan<\/a><ul><li><a href=\"#h-who-is-eligible-for-an-indian-army-education-loan\" data-level=\"3\">Who is Eligible for an Indian Army Education Loan?<\/a><\/li><\/ul><\/li><li><a href=\"#h-conditions-of-indian-army-education-loan\" data-level=\"2\">Conditions of Indian Army Education Loan<\/a><\/li><li><a href=\"#h-documents-required\" data-level=\"2\">Documents Required<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-highlights-of-indian-army-education-loan\"><span id=\"highlights-of-indian-army-education-loan\">Highlights of Indian Army Education Loan<\/span><\/h2>\n\n\n\n<p>Indian Army education loan scheme enables the serving personnel, wards of serving personnel, and dependent sisters to avail financial assistance. The maximum loan amount that can be taken is up to INR 10 lakhs. The interest rates on this loan start from 7% p.a. and the effective ROI is 3.5% to 3.8%.<\/p>\n\n\n\n<p>The loan amount can be repaid in EMI which is provided for a maximum of 5 years or 6 months before retirement (whichever is earlier). The Indian Army education loan scheme allows for availing education loans for:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fresh Applicants<\/li>\n\n\n\n<li>Applying for a Follow-up\/ <a href=\"https:\/\/fly.finance\/blog\/education-loan\/top-up-education-loans-for-specialised-programs\/\"><strong>Top-up education loan<\/strong><\/a>&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/fly.finance\/blog\/education-loan\/apply-for-education-loan-refinance\/\"><strong>Applying for education loan refinance<\/strong><\/a> of an existing loan availed from NBFCs or other banks.&nbsp;<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Basis<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td>Maximum Loan Amount<\/td><td>INR 10 lakhs<\/td><\/tr><tr><td>Interest Rates<\/td><td>7%<\/td><\/tr><tr><td>Effective ROI<\/td><td>3.5% to 3.8%<\/td><\/tr><tr><td>Repayment Period<\/td><td>5 years or 6 months before retirement (whichever is earlier)<\/td><\/tr><tr><td>Repayment Mode<\/td><td>Equated Monthly Installments<\/td><\/tr><tr><td>Collateral Security<\/td><td>NIL<\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/what-is-moratorium-period-and-how-does-it-work\/\"><strong>Moratorium Period<\/strong><\/a><\/td><td>NIL<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Know about the most inclusive <\/strong><a href=\"https:\/\/fly.finance\/blog\/scholarships\/lgbtq-scholarships\/\"><strong>LGBTQ+ scholarships<\/strong><\/a><strong> all around the world. Explore various options that can be availed in the US, Australia, New Zealand, the UK and Canada.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-who-is-eligible-for-an-indian-army-education-loan\"><span id=\"who-is-eligible-for-an-indian-army-education-loan\">Who is Eligible for an Indian Army Education Loan?<\/span><\/h3>\n\n\n\n<p>Indian Army personnel are eligible to apply for an Indian Army education loan-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Serving Personnel&nbsp;<\/li>\n\n\n\n<li>Wards of Serving Personnel<\/li>\n\n\n\n<li>Dependent Sister<\/li>\n<\/ul>\n\n\n\n<p><strong>Please note:<\/strong> Re-employed serving personnel are not eligible to take loans under the Indian Army education loan scheme.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conditions-of-indian-army-education-loan\"><span id=\"conditions-of-indian-army-education-loan\">Conditions of Indian Army Education Loan<\/span><\/h2>\n\n\n\n<p>Indian Army education loans can be taken for government-recognised colleges\/ universities\/ institutions to pursue undergraduate, postgraduate, or professional courses.&nbsp; The education loan can be taken to pursue higher studies in India as well as abroad. However, there are a few other conditions applicable. Let\u2019s have a look at them-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The maximum loan amount is based on the fee structure of the university, the repaying capacity of the applicant and the residual service.&nbsp;&nbsp;<\/li>\n\n\n\n<li>If the total fee is equal to or more than INR 10 lakhs, the loan will be disbursed in one instalment.&nbsp;<\/li>\n\n\n\n<li>In the case of retirement or release of the member before paying the loan, the borrower must repay the outstanding amount with the due interest in time. Failure to do so will lead to recovery of the education loan amount in lumpsum out of his survival or retirement benefits.&nbsp;<\/li>\n\n\n\n<li>In case of the death of the personnel while in service, the outstanding balance is to be recovered from the survival or retirement benefits of Next to Kin.&nbsp;<\/li>\n\n\n\n<li>In case of deputation, the outstanding amount must be refunded to ELS before going on deputation.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-documents-required\"><span id=\"documents-required\">Documents Required<\/span><\/h2>\n\n\n\n<p>Indian Army Education Loan Scheme requires applicants to submit a list of documents relating to personal and academic qualifications. Once these documents are verified, the education is processed to be disbursed. Make sure to keep the list of these self-attested <a href=\"https:\/\/fly.finance\/blog\/education-loan\/documents-required-for-education-loan\/\"><strong>documents required for an education loan<\/strong><\/a> mentioned below handy to avoid any last-minute hassles-&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Passport size photographs<\/li>\n\n\n\n<li>PAN Card of the Applicant<\/li>\n\n\n\n<li>Aadhaar Card of the Applicant<\/li>\n\n\n\n<li>Aadhaar Card of the Ward<\/li>\n\n\n\n<li>Residence Proof other than an Aadhaar Card<\/li>\n\n\n\n<li>Copy of Part II of the Ward<\/li>\n\n\n\n<li>Marksheets from class XII onward of the Ward<\/li>\n\n\n\n<li>Latest Pay Slips<\/li>\n\n\n\n<li>Admission Letter from the University<\/li>\n\n\n\n<li>Breakdown of fees and expenditure&nbsp;<\/li>\n\n\n\n<li>Documents evidencing the duration of the course of commencement<\/li>\n\n\n\n<li>Details of previous education loan taken if applying for a Concurrent Loan\/ Top Up Loan\/ Subsequent Loan<\/li>\n\n\n\n<li>In case of foreclosure of an education loan, documents relating to details of the bankers, loan amount, EMI, and the current balance are required.&nbsp;<\/li>\n\n\n\n<li>Copy of CIBIL score<\/li>\n\n\n\n<li>Six post-dated crossed cheques duly signed by the account holder in favour of \u201cArmy Central Welfare Fund (Education Loan Section)\u201d. (Leave the date and bank amount blank)<\/li>\n\n\n\n<li>NACH mandate form duly signed by the individual concerned. (The signatures should match with the DSP Act)<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Want to know about the minimum family income needed to avail of study abroad education loans? Check out all the details in our blog on <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/minimum-family-income-requirements-for-education-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>minimum family income requirements for education loans<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p>There have been various common mistakes observed while processing the education loan. So, make sure to fill the form very carefully in BLOCK letters. Using a ball-point pen. Consider these instructions to ensure quicker loan processing time and disbursement-\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Provide all the details of Other loan details.&nbsp;<\/li>\n\n\n\n<li>The application form must be countersigned by the OC unit<\/li>\n\n\n\n<li>Attach the details of the countersigning authority like the name, e-mail address, and contact number<\/li>\n\n\n\n<li>Make sure to attach the letter of acceptance letter from the University<\/li>\n\n\n\n<li>Attach the proof of expenditure including the fee structure of the university, and other related incurred expenses towards laptops and books<\/li>\n\n\n\n<li>Provide a copy of the CIBIL score<\/li>\n\n\n\n<li>Submit the NACH Mandate Form duly signed by Ser No 1 (signature of Primary Account Holder)<\/li>\n\n\n\n<li>It is mandatory to submit 06 x post-dated cheques of the DSP account duly signed in favour of \u201cArmy Central Welfare Fund (Education Loan Section)<\/li>\n<\/ul>\n\n\n\n<p>Please ensure that all these pointers are taken care of. Non-submission of any of the documents mentioned above can lead the the cancellation of the loan application.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1712400609141\"><strong class=\"schema-faq-question\"><strong>What is the Indian Army education loan scheme?<\/strong><\/strong> <p class=\"schema-faq-answer\">Indian Army education loan scheme allows the serving personnel of the Indian army to take financial assistance and pursue their study abroad dreams. The maximum limit is INR 10 lakhs.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712400613520\"><strong class=\"schema-faq-question\"><strong>Who is eligible to apply for an Indian Army education loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">Serving personnel of the Indian Army, their wards, and dependent sisters are eligible to apply for an Indian Army education loan. Re-employed serving personnel cannot avail of education loans under this Scheme.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712400620852\"><strong class=\"schema-faq-question\"><strong>What are the documents required for the education loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">Documents required to avail education loan are- a PAN card, an Aadhaar Card, academic mark sheets from class XII onwards, a CIBIL report for the last 3 months, an acceptance letter from the university, a breakdown of expenses, six post-dated crossed cheques duly signed by the account holder in favour of \u201cArmy Central Welfare Fund, NACH Mandate Form duly signed.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712400637762\"><strong class=\"schema-faq-question\"><strong>What is the interest rate of the Indian Army education loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">The Indian Army education loan interest rate starts from 7%. The effective ROI is 3.5% to 3.8%. These interest rates are very low and competitive as compared to other lenders.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712400644936\"><strong class=\"schema-faq-question\"><strong>What is the maximum loan under the Indian Army education loan scheme?<\/strong><\/strong> <p class=\"schema-faq-answer\">Indian Army education loan maximum amount is INR 10 lakhs. However, the maximum loan amount also depends on the repaying capacity of the applicant, residual service and the fee structure of the universities.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712400652571\"><strong class=\"schema-faq-question\"><strong>Can I apply for a top-up loan under the Indian Army education loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes, individuals can apply for fresh loans, top-up loans, or education loan refinancing of an existing loan availed from banks or NBFCs.\u00a0<\/p> <\/div> <\/div>\n\n\n\n<p>This was all about the Indian Army education loan scheme to study abroad. Make sure to go through the guidelines in detail while filling out the education loan application form to avoid any discrepancies and ensure quick processing time.<\/p>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/blog\/education-loan\/\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/blog\/student-account\/\"><strong>bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/\"><strong>Union Bank Education Loan Documents Required<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/yono-sbi-education-loan\/\"><strong>YONO SBI Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-education-loan-disbursement-process\/\"><strong>SBI Education Loan Disbursement Process<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 s-0.009,2.688-0.052,3.637c-0.04,0.877-0.187,1.354-0.31,1.671c-0.163,0.42-0.358,0.72-0.673,1.035 c-0.315,0.315-0.615,0.51-1.035,0.673c-0.317,0.123-0.794,0.27-1.671,0.31c-0.949,0.043-1.233,0.052-3.637,0.052 s-2.688-0.009-3.637-0.052c-0.877-0.04-1.354-0.187-1.671-0.31c-0.42-0.163-0.72-0.358-1.035-0.673 c-0.315-0.315-0.51-0.615-0.673-1.035c-0.123-0.317-0.27-0.794-0.31-1.671C4.631,14.688,4.622,14.403,4.622,12 s0.009-2.688,0.052-3.637c0.04-0.877,0.187-1.354,0.31-1.671c0.163-0.42,0.358-0.72,0.673-1.035 c0.315-0.315,0.615-0.51,1.035-0.673c0.317-0.123,0.794-0.27,1.671-0.31C9.312,4.631,9.597,4.622,12,4.622 M12,3 C9.556,3,9.249,3.01,8.289,3.054C7.331,3.098,6.677,3.25,6.105,3.472C5.513,3.702,5.011,4.01,4.511,4.511 c-0.5,0.5-0.808,1.002-1.038,1.594C3.25,6.677,3.098,7.331,3.054,8.289C3.01,9.249,3,9.556,3,12c0,2.444,0.01,2.751,0.054,3.711 c0.044,0.958,0.196,1.612,0.418,2.185c0.23,0.592,0.538,1.094,1.038,1.594c0.5,0.5,1.002,0.808,1.594,1.038 c0.572,0.222,1.227,0.375,2.185,0.418C9.249,20.99,9.556,21,12,21s2.751-0.01,3.711-0.054c0.958-0.044,1.612-0.196,2.185-0.418 c0.592-0.23,1.094-0.538,1.594-1.038c0.5-0.5,0.808-1.002,1.038-1.594c0.222-0.572,0.375-1.227,0.418-2.185 C20.99,14.751,21,14.444,21,12s-0.01-2.751-0.054-3.711c-0.044-0.958-0.196-1.612-0.418-2.185c-0.23-0.592-0.538-1.094-1.038-1.594 c-0.5-0.5-1.002-0.808-1.594-1.038c-0.572-0.222-1.227-0.375-2.185-0.418C14.751,3.01,14.444,3,12,3L12,3z M12,7.378 c-2.552,0-4.622,2.069-4.622,4.622S9.448,16.622,12,16.622s4.622-2.069,4.622-4.622S14.552,7.378,12,7.378z M12,15 c-1.657,0-3-1.343-3-3s1.343-3,3-3s3,1.343,3,3S13.657,15,12,15z M16.804,6.116c-0.596,0-1.08,0.484-1.08,1.08 s0.484,1.08,1.08,1.08c0.596,0,1.08-0.484,1.08-1.08S17.401,6.116,16.804,6.116z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Instagram<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/company\/flyfinance\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-twitter  wp-block-social-link\"><a href=\"https:\/\/twitter.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Indian Army education loan scheme provides financial assistance to Indian Army personnel to pursue higher education in India and abroad. They can use these funds to finance undergraduate and post-graduate studies in government-recognised colleges and universities.&nbsp; The interest rate on Indian Army education loans is low and competitive. To learn more about the maximum loan &#8230; <a title=\"Indian Army Education Loan: Features, Interest, Eligibility\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/\" aria-label=\"Read more about Indian Army Education Loan: Features, Interest, Eligibility\">Read more<\/a><\/p>\n","protected":false},"author":29,"featured_media":11392,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-11390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Indian Army Education Loan: Features, Interest, Eligibility<\/title>\n<meta name=\"description\" content=\"Check here all about the Indian Army Education Loan. Know the interest rate, repayment period, application process and other features.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indian Army Education Loan: Features, Interest, Eligibility\" \/>\n<meta property=\"og:description\" content=\"Check here all about the Indian Army Education Loan. Know the interest rate, repayment period, application process and other features.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Fly Finance\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/shubhika.garg\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-06T12:28:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-08T10:18:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flyblog.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/06163233\/INDIAN-ARMY-EDUCATION-LOAN-SCHEME.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Shubhika Garg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shubhika Garg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Indian Army Education Loan: Features, Interest, Eligibility","description":"Check here all about the Indian Army Education Loan. Know the interest rate, repayment period, application process and other features.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/","og_locale":"en_US","og_type":"article","og_title":"Indian Army Education Loan: Features, Interest, Eligibility","og_description":"Check here all about the Indian Army Education Loan. Know the interest rate, repayment period, application process and other features.","og_url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/","og_site_name":"Fly Finance","article_author":"https:\/\/www.facebook.com\/shubhika.garg\/","article_published_time":"2024-04-06T12:28:25+00:00","article_modified_time":"2024-04-08T10:18:48+00:00","og_image":[{"width":1024,"height":640,"url":"https:\/\/flyblog.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/06163233\/INDIAN-ARMY-EDUCATION-LOAN-SCHEME.webp","type":"image\/webp"}],"author":"Shubhika Garg","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shubhika Garg","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#article","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/"},"author":{"name":"Shubhika Garg","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/1f13adc00f6f67e7ed5a2fb5e97bfec6"},"headline":"Indian Army Education Loan: Features, Interest, Eligibility","datePublished":"2024-04-06T12:28:25+00:00","dateModified":"2024-04-08T10:18:48+00:00","mainEntityOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/"},"wordCount":1314,"commentCount":0,"publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/04\/06163233\/INDIAN-ARMY-EDUCATION-LOAN-SCHEME.webp","articleSection":["Education Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#respond"]}],"accessibilityFeature":["tableOfContents"]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/","url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/","name":"Indian Army Education Loan: Features, Interest, Eligibility","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#primaryimage"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/04\/06163233\/INDIAN-ARMY-EDUCATION-LOAN-SCHEME.webp","datePublished":"2024-04-06T12:28:25+00:00","dateModified":"2024-04-08T10:18:48+00:00","description":"Check here all about the Indian Army Education Loan. Know the interest rate, repayment period, application process and other features.","breadcrumb":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400609141"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400613520"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400620852"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400637762"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400644936"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400652571"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#primaryimage","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/04\/06163233\/INDIAN-ARMY-EDUCATION-LOAN-SCHEME.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/04\/06163233\/INDIAN-ARMY-EDUCATION-LOAN-SCHEME.webp","width":1024,"height":640,"caption":"INDIAN ARMY EDUCATION LOAN SCHEME"},{"@type":"BreadcrumbList","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fly.finance\/blog\/"},{"@type":"ListItem","position":2,"name":"Education Loan","item":"https:\/\/fly.finance\/blog\/category\/education-loan\/"},{"@type":"ListItem","position":3,"name":"Indian Army Education Loan: Features, Interest, Eligibility"}]},{"@type":"WebSite","@id":"https:\/\/fly.finance\/blog\/#website","url":"https:\/\/fly.finance\/blog\/","name":"Fly Finance","description":"Explore blogs related to Education Loan, Student Bank Account, International Money Transfer, Scholarships along with latest news at Fly Finance.","publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fly.finance\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fly.finance\/blog\/#organization","name":"Fly Finance","url":"https:\/\/fly.finance\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","width":1080,"height":1080,"caption":"Fly Finance"},"image":{"@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/1f13adc00f6f67e7ed5a2fb5e97bfec6","name":"Shubhika Garg","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/df0315e532cdf62ee7275a4a65914c25f90ec1b0b137b1bf0bbca958325909f8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/df0315e532cdf62ee7275a4a65914c25f90ec1b0b137b1bf0bbca958325909f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/df0315e532cdf62ee7275a4a65914c25f90ec1b0b137b1bf0bbca958325909f8?s=96&d=mm&r=g","caption":"Shubhika Garg"},"description":"Hey there! I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.","sameAs":["https:\/\/www.facebook.com\/shubhika.garg\/","https:\/\/www.instagram.com\/shubhika.garg\/","https:\/\/www.linkedin.com\/in\/shubhikagarg71\/","https:\/\/www.tumblr.com\/blog\/shubhikahere"],"url":"https:\/\/fly.finance\/blog\/author\/shubhika\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400609141","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400609141","name":"What is the Indian Army education loan scheme?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Indian Army education loan scheme allows the serving personnel of the Indian army to take financial assistance and pursue their study abroad dreams. The maximum limit is INR 10 lakhs.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400613520","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400613520","name":"Who is eligible to apply for an Indian Army education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Serving personnel of the Indian Army, their wards, and dependent sisters are eligible to apply for an Indian Army education loan. Re-employed serving personnel cannot avail of education loans under this Scheme.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400620852","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400620852","name":"What are the documents required for the education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Documents required to avail education loan are- a PAN card, an Aadhaar Card, academic mark sheets from class XII onwards, a CIBIL report for the last 3 months, an acceptance letter from the university, a breakdown of expenses, six post-dated crossed cheques duly signed by the account holder in favour of \u201cArmy Central Welfare Fund, NACH Mandate Form duly signed.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400637762","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400637762","name":"What is the interest rate of the Indian Army education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The Indian Army education loan interest rate starts from 7%. The effective ROI is 3.5% to 3.8%. These interest rates are very low and competitive as compared to other lenders.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400644936","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400644936","name":"What is the maximum loan under the Indian Army education loan scheme?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Indian Army education loan maximum amount is INR 10 lakhs. However, the maximum loan amount also depends on the repaying capacity of the applicant, residual service and the fee structure of the universities.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400652571","position":6,"url":"https:\/\/fly.finance\/blog\/education-loan\/indian-army-education-loan\/#faq-question-1712400652571","name":"Can I apply for a top-up loan under the Indian Army education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, individuals can apply for fresh loans, top-up loans, or education loan refinancing of an existing loan availed from banks or NBFCs.\u00a0","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/11390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=11390"}],"version-history":[{"count":5,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/11390\/revisions"}],"predecessor-version":[{"id":11415,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/11390\/revisions\/11415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/11392"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=11390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=11390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=11390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}