{"id":4450,"date":"2023-06-02T11:13:22","date_gmt":"2023-06-02T05:43:22","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=4450"},"modified":"2024-09-27T12:19:01","modified_gmt":"2024-09-27T06:49:01","slug":"nsfdc-education-loan","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/nsfdc-education-loan\/","title":{"rendered":"NSFDC Education Loan: Eligibility, Interest Rate, Benefits"},"content":{"rendered":"\n

National Scheduled Castes Finance and Development Corporation (NSFDC), as the name suggests, is a Government owned organization that works towards promoting prosperity and improving the flow of financial assistance among those belonging to the Scheduled Caste community. It also focuses on skill development and other initiatives. Accordingly, the education loan<\/a><\/strong> scheme of NSFDC helps students from the community secure loans to study abroad<\/strong><\/a> or pursue studies in India. To learn more about NSFDC Education Loan, continue reading this blog.\u00a0<\/p>\n\n\n\n

Name <\/strong><\/td>NSFDC Education Loan<\/td><\/tr>
Scheme <\/strong><\/td>Educational Loan Scheme of NSFDC<\/td><\/tr>
Board Name <\/strong><\/td>National Scheduled Castes Finance and Development Corporation<\/td><\/tr>
Aimed at <\/strong><\/td>Education in India or Abroad for SC students <\/td><\/tr>
Website<\/strong><\/td>nsfdc.nic.in<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What Does NSFDC Education Loan Cover?<\/span><\/h2>\n\n\n\n

NSFDC education loan benefits the students from Scheduled Caste community. The education loan helps cover a range of expenses and other necessities that students might need to incur during their study abroad education. These benefits of covering expenses include:<\/p>\n\n\n\n

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  1. The admission fee and the tuition fee <\/li>\n\n\n\n
  2. The examination fee <\/li>\n\n\n\n
  3. The expenses around travel abroad, including the cost of a visa <\/li>\n\n\n\n
  4. All expenses for library, books, stationary, and other instruments <\/li>\n\n\n\n
  5. The laboratory fees <\/li>\n\n\n\n
  6. The accommodation fees <\/li>\n\n\n\n
  7. Development fees as well as caution money <\/li>\n\n\n\n
  8. Insurance premium in case of death or permanent disability of borrowers <\/li>\n<\/ol>\n\n\n\n

    NSFDC Education Loan Scheme <\/span><\/h2>\n\n\n\n

    The education loan scheme of NSFDC has various particulars for both Indian and abroad education for SC students, including interest rates and other aspects. We have shared the table below for a particular overview of what the NSFDC Education Loan Scheme entails.<\/p>\n\n\n\n

    For? <\/strong><\/td>Loan Amount <\/strong><\/td>Interest Rate p.a. chargeable to Student <\/strong><\/td><\/tr>
    Within India <\/td>INR 20 lakh, or up to 90% of the course fee of the student \u2013 whichever is less. <\/td>4%Women beneficiaries \u2013 0.5% rebate <\/td><\/tr>
    Abroad Students <\/td>INR 30 lakh, or up to 90% of the course fee of the student \u2013 whichever is less. <\/td>4%Women beneficiaries \u2013 0.5% rebate <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Also Read: <\/strong>Saraswat Bank Education Loan: Interest Rate, Application Process, Eligibility<\/strong><\/a><\/p>\n\n\n\n

    Eligibility Criteria for NSFDC Education Loan<\/span><\/h2>\n\n\n\n

    To avail of the  NSFDC Education Loan, one must be eligible for the same. The requirements are mentioned below. <\/p>\n\n\n\n

      \n
    1. The students should be from the Schedules Caste Community. <\/li>\n\n\n\n
    2. Education loans are provided to SC students whose family income of INR 3 lakh per annum if they are living in rural areas or urban areas. <\/li>\n\n\n\n
    3. For abroad education, students should have successfully enrolled in a full-time technical\/professional course based on their merit from a recognized university abroad.\u00a0<\/li>\n\n\n\n
    4. Moreover, the course they have enrolled for should not have made any scholarship\/freeship available.<\/li>\n\n\n\n
    5. No other educational loan from any other bank has been sanctioned. <\/li>\n<\/ol>\n\n\n\n

      What are the Courses Covered? <\/span><\/h2>\n\n\n\n

      Students will be granted the NSFDC Education Loan for government-recognized professional\/technical courses in India and abroad in the following fields<\/p>\n\n\n\n