Eligibility Criteria for Skill Loan:
- Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by Central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
- The Government of India / State Governments may, from time to time, notify institutes/organizations for the purpose.
Eligible Courses for Skill Loan:
- Courses run by above mentioned Training Institutes ( as in 2.0) aligned to National Skill Qualification Framework (NSQF) shall be covered by the Skill Loan. There is no minimum course duration.
Amount of Skill Loan:
- ₹5,000/- to ₹150,000/-.
Expenses Covered :
- Tuition / course fee. Such tuition / course fee.
- Any other reasonable expenditure found necessary for completion of the course could be considered on merit.
Security for Skill Loan:
- Up to 3 years to 7 years depending upon the quantum of loan.
Apply Skill Loan Online:
- Bank has integrated its education loan scheme with Vidya Lakshmi Portal of the Government and has made available to public for facilitating timely credit to youth in realising their educational aspirations.
- Vidya Lakshmi portal is an initiative of Department of Financial Services, (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA) for students seeking Education Loan wherein students can apply, view and track the status of their education loan application anytime, anywhere by accessing the portal. The portal has been developed and being maintained by NSDL e-Governance Infrastructure Limited.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
Rate of Interest for Skill Loan:
- View Latest Rate of Interest
- View Service Charges.
- Upfront charges will be collected (wherever applicable) towards legal, valuation, BIR etc.