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CENT SKILL LOAN (VOCATIONAL EDUCATION AND TRAINING) |
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Student Eligibility |
The student should be an Indian National and should have secured admission in a course run or supported by a Ministry / Dept./ Organization of the Govt. or a company / society / organization supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations as per National Skill Qualification Framework (NSQF), preferably leading to a certificate / diploma / degree, etc. issued by a Govt. organization or an organization recognized / authorized by the Govt. to do so. However, the loan may also be sanctioned for Non-NSQF aligned courses by the training entities on boarded on the MSDE’s Skill India Digital Hub (SIDH) platform. |
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Quantum of Finance |
Need based finance to meet expenses as worked out will be considered subject to the following ceilings:
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Margin |
5% |
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ROI |
RBLR +1.50% (i.e.10.85% presently) |
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Processing Charges |
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Security |
No collateral or third-party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower. The loan is covered under Credit Guarantee Scheme of NCGTC. |
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Repayment |
The loan will be repaid after the moratorium period in Equated Monthly Instalments (EMIs) as under:
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