Education Loan at 0% Interest Rate..!

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Education Loan at 0% Interest Rate..! #shorts #short #educationloan #subsidy #csisolar #kowshik_maridi

Central Sector Interest Subsidy Scheme (CSIS) and Credit Guarantee Fund Scheme for Education Loan (CGFSEL) Department of Higher Education, Ministry of Education has been implementing the Central Sector Interest Subsidy (CSIS) Scheme since 2009. Under this Scheme Interest Subsidy is given during the moratorium period i.e., Course period plus one year on Education Loan taken from the Scheduled Banks under the Model Education Loan Scheme of Indian Banks Association to students belonging to economically weaker sections whose annual parental income is up to Rs. 4.5 Lakh from all sources. The subsidy is allowed for pursuing higher education in professional/ technical courses only from NAAC accredited Institutions or professional/ technical programmes accredited by NBA or Institutions of National Importance or Centrally Funded Technical Institutions (CFTIs). Canara Bank has been appointed as Nodal Bank for the implementation of the scheme.

Students may note that the bank which is sanctioning the education loan needs to upload the claim of interest subsidy in the portal maintained by the Canara bank for this purpose. The interest subsidy is credited directly to the loan account of the student by DBT mode using PFMS gateway. One can visit https://canarabank.com/User_page.aspx... for more information.

The ceiling with respect to educational loans has been increased to a loan amount of Rs. 10 lakhs from the year 2022-23. One can visit the following portals for more information.

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