To assist the PWD category students who are in need of education loan for pursuing the special devices courses in India. Education loans for abroad studies will be as per the guidelines of IBA Model Education loan/Skill loan scheme.

Need based finance shall be considered subject to the following conditions :

• For degree Courses : Maximum Rs 7.50 lakhs.
• Vocational/Certificate/Diploma courses/Skill loan : Maximum Rs 1.50 lakhs.

Loans beyond the limits mentioned above are to be sanctioned under IBA’s Model Education Loan scheme.

• Upto a loan amount of Rs 4.00 lakhs – NIL.
• Above Rs 4.00 lakhs – Minimum margin of 5% (Scholarship/assistantship if any to be included in margin).

NIL Including Vidya Lakshmi portal referral fee.

• Assignment of future income of the student.
• Parent/guardian has to join as Co-borrower.
• No collateral Security up to a limit of Rs 7.5 lakhs.
• Loans up to a limit of Rs 7.50 lakhs sanctioned are to be invariably covered under the Credit Guarantee Fund Scheme For Education Loans (CGFSEL) guarantee scheme.

• Repayment of the loan will be in equated monthly Installments up to a maximum of 15 years excluding the moratorium period ( i.e., course period plus one year).
• For skill development loan, 3 to 7 years depending upon the loan quantum.

All Education loans under Vidya Turant can be covered under CSIS scheme (Central Scheme of Interest Subsidy on Education Loans), subject to eligibility, as per income & other norms.

Proof of Identity

PAN CARD/Driver’s License/Voter ID /Passport/ Aadhar Card etc.

Proof of Residence

Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.