Ministry of HRD has announced concession on education loan interest it is common for all state students like tamilnadu , as per the department announcement students who got loan for pursuing professional courses from the year 2009 april 1 to 2014 march 31 can apply for cancelling their education loan interest through banks where they got the loan.
Who are eligible to get this subsidy
- Students who studied professional courses like Engineering and medical courses during above mentioned period are capable to get this.
- Annual income of parents must not be above 4.5 lakhs.
- This scheme will be available for only who got loan from IBA member banks (IBA is called indian banks association and it has 201 member which includes both private and public )
Note: this may be the final chance for the students so they need to complete the procedures within the IBA mentioned time limit, else they will lose the opportunity.
Banks are giving education loan for students inorder to continue higher study, After completing the course and joining job students need to pay the amount along with the interest is the procedure. For students who are applying for the consession central government will pay the amount.
Central government has appointed canara bank as a medium for this, so it will collect the interest subsidy details of all the banks and it will submit the details to central government. As per it government will give total concession amout to canara bank which will be handed over to all banks as per the details.
Ministry of HRD instructed all the banks to publish these details in their official website so it is available in most bank websites, you log on to your bank url inorder to get the details.
Important Dates
For who got loan between 2009 to 2014 – last date over
How to apply?
Contact your bank with required documents like income tax certificate of your parents obtained from tashildar, canara bank opens the portal for the member banks only during above period so you should contact as quickly as possible.
You need to submit education loan interest subsidy application form along with the needed documents, each student have right to check the bank whether their application is forwarded to canara bank to avail the consession, so you can confirm it by contacting your bank, incase if they refuse to give correct details then you can register a complaint regarding it to IBA.
Reference file: click here
Is this concession is applicable for the MBA course. and loan got on 2008.
Can we apply for concession please let me know
Apply time is closed now
dear sir,
i am finished in b.sc (maths) in 2012 but i taken my education loan on 2010 onwards. my interest of my education loan discount in govt scheme
dear sir,
My Brother got education loan from Tamil Nadu mercantile Bank(TMB), in the year 2011 , this scheme will applicable TMB also .
The scheme not published in syndicate bank Tamil nadu Virudhunagar district
i got education loan at 2010 in indian overseas bank for professional degree but bank cant give subsidy to my loan a
sir i take education loan in 2011. i submitted income certificate in bank.but today also interest. so what can i am.my id is [email protected]
But the SBI banks are not giving any information students. If the students are asking their they are told to students the govt. Still not give our bank for the interest concession order.
I have taken education loan in 2008 from Baitarani gramya bank. Still i can not got any subsidy from bank sides and not in also get any kind of good job. now bank interest is in 12.75% how can i recovery that kind of huge amount ………..
sir may I know which banks in tamilnadu are applicable for this subsidy scheme
Sir..my daughter has got education loan from syndicate bank,west bengal in 2014.I submitted income certificate in the bank.But today also interest. So what can I am?
Sir,
Is the subsidy applicable for the B.Ed loan, which was got in the year 2011, in Bank of Baroda?
Mene 2009 me education loan liya tha but mujhe bank ne kbhi income certifate dene k liye nhi bola. Mere papa ne jo apni pay slip lgayi thi bs use hi rkh li. Lkn ab usme 98000 intrest aa rha. Ab kuch ho skta h kya me income certificate lgau. Plz tell me.. bank gya tha vo bole ab kuch nhi ho skta plz kuch hlp kro
There is a confusion. Are interest waiver applicable to new applicant in 2016 from poor families. A young widowed mother with meagre income educating her children in colleges. Is she eligible for interest waiver.