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West Bengal Education Loan
West Bengal Education Loan
The Education Loan Scheme offers financial support to individuals aspiring to pursue professional courses such as Medical, Engineering, Management, Nursing, Law, etc. The loan amount can be a maximum of Rs.20 lakh for studies within the country and Rs.30 lakh for studies abroad.
Repayment of the loan is structured with an interest rate of 3% per annum, and it begins in quarterly instalments six months after the completion of the course or upon employment, whichever comes first. It's important to note that the availability of funds determines the provision of the loan, making it a valuable resource for students aiming to achieve excellence in their chosen fields of study.
Documents Required
  • Bonafide Certificate: Proof of the candidate's current academic year.
  • Admit Card: Admit card reflecting the date of birth of the student.
  • Photo Identity Card: One photo identity card each for the candidate and the guardian (voter ID or Aadhar card).
  • PAN Card: PAN card of both the candidate and the guardian.
  • Address Proof: One address proof for both the candidate and the guardian (ration card, electricity bill, Aadhar, EPIC).
  • Photographs: Two copies of photographs for both the candidate and the guardian.
  • Mark Sheet:
  • For Diploma course: Mark sheet of Secondary examination (10th or equivalent).
  • For Graduation Level: Mark sheet of Higher Secondary (10+2 or equivalent).
  • For Graduation Level (Lateral entry to technical courses): Mark sheet of Diploma courses.
  • For Post Graduation Level: Mark sheet of Graduation level.
  • Passbook Photocopy: Photocopy of the first page of the passbook of the joint account with the parent/guardian.
  • Caste Certificate: Applicable for candidates other than general category.
  • Fee Details: Fee details of the entire course with a year-wise and item-wise breakup.
  • Additional Documents for Abroad Candidates:
  • Passport photocopy of the candidate.
  • Visa application photocopy for the country applied to (may be submitted after provisional offer).
  • Income Certificate: Relevant income certificate.
  • Documents for Reserved Categories:
  • For OBC/other reserve candidates, relevant documents/certificates.
  • Special Categories:
  • For Persons with Disabilities orphans/widows, relevant documents/certificates.
  • Eligibility Criteria
  • For graduation level courses, a minimum of 70% marks in higher secondary (10+2) or equivalent is required.
  • For post-graduation level courses, a minimum of 75% marks in the graduation level is required.
  • Yearly family income must be within 8 lakh to be eligible for the education loan.
  • Candidates with a family income within Rs. 98,000 (rural) or Rs. 1,20,000 (urban) per annum will be charged a 3% interest rate. For others, the interest rate will be 8% for boys and 5% for girls.
  • The duration of the course should be more than one year.
  • Candidates should belong to notified minority communities, including Christian, Buddhist, Jain, Muslim, Parsi, and Sikh, and be domiciled in West Bengal.
  • Applicants must be pursuing Professional/Technical courses from a recognized institute in India or abroad in regular mode, as per the attached list.
  • The age of the applicant should be between 18 to 32 years as of January 1st of the application year.
  • image
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    Arivu Vidyabhyasa Education Loan 2024
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    Engineering
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    Student Credit Card Free Loan Scheme
    The Department Of Higher Education, Govt. Of West Bengal

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    31 December

    All
    image
    Paras Education Services Education Loan
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    Medical
    Professional courses
    image
    Jain Jagruti Charitable Trust Education Loan
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    Engineering
    Medical
    Bachelors
    Masters
    Professional courses
    image
    Valor Trust Education Loan
    Valor Trust

    $5000

    31 December

    Professional courses
    image
    Zalawadi Sabha Charitable Foundation Education Loan
    Zalawadi Sabha Charitable Foundation

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    31 December

    Engineering
    Masters
    PHD
    Professional courses
    image
    Edu Trust Education Loan
    Edu Trust

    7,50,000

    31 December

    Engineering
    Medical
    Bachelors
    Masters
    Professional courses
    image
    Bunts Sangha Interest Free Loan 2024
    Bunts’ Sangha Bangalore

    30,000

    31 March

    Class 10
    Class 11
    Class 12
    Diploma
    Engineering
    Bachelors
    image
    Rotary Club Of Mulund Interest Free Loan 2024
    The Rotary Club Of Mulund

    Financial Assistance

    25 August

    ITI
    Diploma
    Engineering
    Medical
    Bachelors
    Masters
    image
    KMDC Foreign University Higher Education Loan 2024
    Karnataka Minorities Development Corporation Limited

    Education Loan

    31 August

    Engineering
    Masters
    PHD
    Post Doctoral
    image
    Zeenam Charitable Trust Education Loan
    Zeenam Charitable Trust

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    19 July

    All
    image
    Interest Free Loan For Education
    Diay Pakistan Organisation

    51,000

    31 December

    All
    image
    Arivu Vidyabhyasa Education Loan 2024
    Karnataka Minorities Development Corporation Limited

    5,00,000

    31 October

    Engineering
    Medical
    Bachelors
    Masters
    Other Requirements
    Submission of Downloaded Application:
  • After submitting the online application, download and sign the application form.
  • The signed form should be handed over to the Education Supervisor during document verification.
  • Joint Bank Account:
  • Candidates and guardians should have a joint account, preferably in a national bank.
  • Bank copies with signatures of both need to be provided.
  • NACH (National Automated Clearing House):
  • NACH needs to be signed by both the student and the guardian.
  • Notarized Declaration Page:
  • Declaration page, which has to be notarized, must be signed by the guardian.
  • Consistent Family Income:
  • Family income should remain the same in the application form and in the declaration page, which has to be notarized.
  • Promissory Note and Money Receipt:
  • Promissory note and money receipt must be signed by both the guardian and the candidate.
  • Signatures should be on a revenue stamp.
  • How To Apply
    Certainly! Step-by-step application process:
    1. Visit Our Official Website.
    2. Read carefully all the information about the program details.
    3. Click on the "Register" to complete the registration with required details.
    4. After successful registration, Use the received credentials to log into your account.
    5. Once logged in & Go to the official website of the bank offering education loans.
    6. Find the section related to education loans on the bank's website.
    7. Locate the online application form for education loans on the website.
    8. Fill out the online application form with accurate information.
    9. Scan and upload the required documents as per the specifications provided on the website.
    10. Review the information entered in the application form to ensure accuracy.
    11. Once you are satisfied with the information provided, submit the online application form.
    12. Upon successful submission, you may receive an acknowledgment or reference number for your application.
    Note: "As a free user,"
    →'You're encouraged to share this valuable information with your friends to access the link properly'.

    20,00,000

    West Bengal Education Loan
    SCHOLARSHIP PROVIDER
    West Bengal Minorities' Development and Finance Corporation
    APPLICATION DEADLINE
    31 December
    EDUCATION LEVEL
    Bachelors
    Masters
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    The Education Loan Scheme offers financial support to individuals aspiring to pursue professional courses such as Medical, Engineering, Management, Nursing, Law, etc. The loan amount can be a maximum of Rs.20 lakh for studies within the country and Rs.30 lakh for studies abroad.
    Repayment of the loan is structured with an interest rate of 3% per annum, and it begins in quarterly instalments six months after the completion of the course or upon employment, whichever comes first. It's important to note that the availability of funds determines the provision of the loan, making it a valuable resource for students aiming to achieve excellence in their chosen fields of study.