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 : 527) Post Your Comments
1. payday loans online no credit check payday loans payday loans online payday loans online
Online Lenders (Posted: Jan 20, 2018)
2. cash loans cash lenders compare loan easy money payday loans
Getting A Loan (Posted: Jan 20, 2018)
3. advance cash best cash advance loans online advance cash cash advance loans
Direct Lenders (Posted: Jan 20, 2018)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
An insight into education loan schemes for...
This is how a bank lends money
Carnival of Indian Personal Finance Blogs #6
Education Loan for B-Schools
Education loans seeing a facelift in India


ROPAR: CaℒL Giℛℒ In Kurali 09855660911...
Why Pitampura Tutors (Ph:- 9911742311) & Private...
kala jadu in hindi 9636854282

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