Loan Based Schemes For Safai Karamchari - Education Loan Scheme (ELS)
An Education Loan scheme by the Ministry of Social justice and Empowerment for Safai Karamchari, Manual Scavengers, and their dependents aged 18 years and above.
- Ministry / Department
- Ministry Of Social Justice and Empowerment
- Level
- Central
- Benefit type
- cash
What is Loan Based Schemes For Safai Karamchari - Education Loan Scheme (ELS)?
An Education Loan scheme by the Ministry of Social justice and Empowerment for Safai Karamchari, Manual Scavengers, and their dependents aged 18 years and above.
- Benefit
- #### Educational Loan: 1. Upto **90% of the unit cost** with a maximum unit cost of **Rs.10.00 lacs for study in India** and **Rs.20.00 lacs to study abroad** at interest rate of **4%**1. 0.5% per annum rebate for women in case of study in India #### Repayment period: 5 years after co-termination of course. However, the interest is payable on a quarterly basis from the disbursement of the loan. #### Moratorium period: 1 Year #### Coverage : Education loan may cover the following:- - Admission Fees & Tuition Fee. - Books, Stationery and other instruments required for the course. - Examination Fee. - Boarding and lodging expenses. - Insurance premium for policy.
- Level
- Central
- Ministry / Dept.
- Ministry Of Social Justice and Empowerment
- Benefit type
- cash
- Key eligibility
- The following person(s)/entities shall be considered eligible for availing of financial assistance under the various schemes of NSKFDC:- 1. Safai Karamcharis (including Waste pickers), identified Manual Scavengers and their dependents. 1. Registered co-operative societies of the target group. 1. Leg
- Last verified
- Recently
Benefits
#### Educational Loan: 1. Upto **90% of the unit cost** with a maximum unit cost of **Rs.10.00 lacs for study in India** and **Rs.20.00 lacs to study abroad** at interest rate of **4%**1. 0.5% per annum rebate for women in case of study in India #### Repayment period: 5 years after co-termination of course. However, the interest is payable on a quarterly basis from the disbursement of the loan. #### Moratorium period: 1 Year #### Coverage : Education loan may cover the following:- - Admission Fees & Tuition Fee. - Books, Stationery and other instruments required for the course. - Examination Fee. - Boarding and lodging expenses. - Insurance premium for policy.
Eligibility
Documents Required
How to Apply
Step 1: Offline application — step 1
Loan applications are submitted by the applicants to the district offices of SCAs of NSKFDC of RRBs and Nationalised Banks. These applications are then sent to the head offices where the project proposal is appraised by SCA/RRBs/Nationalised Banks and the projects are sent back to NSKFDC along with recommendations. The Project Appraisal Committee of NSKFDC then appraises the proposals and after finding them in order places it in front of their board of directors for their approval. Once the board of directors approves the project, the letter of sanction is issued by SCAs/ RRBs/Nationalised Banks. Once all the terms and conditions have been accepted, the necessary documents and funds are then released to the concerned beneficiaries. NSKFDC released the funds with the receipt of demand being made from the SCAs/ RRBs/Nationalised Banks after taking into consideration all the parameters of release as per the Lending Policies & Guidelines (LPG) of NSKFDC
Sources & References
- Official scheme website ↗
- Source record ↗
- Information is summarised from official government sources. Verify all details on the official website before applying.
Ready to apply?
Applications are accepted only on the official government portal.
Open Official Website