Purpose
Financial assistance to the needy and deserving young people to pursue higher education, vocational training courses, Pilot trainings, skill up gradation, diploma or degree courses offered in aviation, hospitality and travel management, executive development etc.
Loan Amount
- India : 1 Lakh to 20 Lakhs
- Abroad : 3 Lakh to 25 Lakhs
Eligibility
- Indian citizen
- Proof of admission to the proposed course/ programme
- Age- Minimum 18 years & maximum 45 years
- Net worth - Minimum double the loan amount (combined with coobligants)
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Quantum of Finance
75% of estimate
Cushion Period
Course period + 6 months or 3 months after getting job, whichever is earlier
Rates & Interest
Please refer rates & charges page
Repayment
Equated Monthly Instalments.Periodical interest should be serviced during the course period and subsequent cushion period.
Co-obligant
Parent / Guardian should join the loan documents in all cases as joint borrower. In case of married person joint borrowers can be either spouse/parents/parents-in-law.
Security
Required as per the scheme