Vocational Education and Training Loan Scheme

What is Vocational Education and Training Loan Scheme?

The Vocational Education and Training Loan Scheme provides financial assistance to youth of the target group to enhance their skills & employability.

Benefit

**Quantum of loan** 1. Need-based finance to meet up to 90% of expenses shall be considered subject to the following Ceilings: - For courses of duration up to 2 years: up to Rs. 4,00,000/- > Note: In case of cost over-run, it shall be borne by the beneficiary. **Interest** National Safai Karamcharis Finance & Development Corporation (NSKFDC) shall charge interest @ 1% per annum from the Channelizing Agency which, in turn, shall charge 4% per annum from the beneficiaries. In the case of women, an interest rebate of 0.5% shall be provided. **** **Repayment:** Up to 7 years.

Level

Central

Ministry / Dept.

Ministry Of Social Justice and Empowerment

Benefit type

cash

Key eligibility

**Eligibility Criteria** 1. The person should be from the target group of NSKFDC. 1. The person should have secured admission in a course run or supported by a Ministry, Department, or Organization of the Government or a company, society, or organization supported by the National Skill Development C

Last verified

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Benefits

**Quantum of loan** 1. Need-based finance to meet up to 90% of expenses shall be considered subject to the following Ceilings: - For courses of duration up to 2 years: up to Rs. 4,00,000/- > Note: In case of cost over-run, it shall be borne by the beneficiary. **Interest** National Safai Karamcharis Finance & Development Corporation (NSKFDC) shall charge interest @ 1% per annum from the Channelizing Agency which, in turn, shall charge 4% per annum from the beneficiaries. In the case of women, an interest rebate of 0.5% shall be provided. **** **Repayment:** Up to 7 years.

Eligibility

Documents Required

How to Apply

1. Step 1: Online application — step 1

   Step 1: Visit the official website .

2. Step 2: Online application — step 2

   Step 2: Click on How to Apply . Tap on the Loan application form.

3. Step 3: Online application — step 3

   Step 3: Click on Loan application form.

4. Step 4: Online application — step 4

   Step 4: Fill in all the details and tap Save to save the application form.

Sources & References

• Official scheme website ↗
• Source record ↗
• Information is summarised from official government sources. Verify all details on the official website before applying.