Csis education loan

Central Sector Interest Subsidy Scheme (CSIS) launched by the Ministry of Human Resource Development (MHRD) in 2009 and existing Scheme has been modified with the approval of the Cabinet on March 28th, 2018 with objective to ensure that no student is denied the opportunity to pursue higher education because he or she is poor. Central Sector Interest Subsidy Scheme provides full interest subsidy during the moratorium period on modern education loans without any collateral security and third-party guarantee, for pursuing technical/professional courses in India. Government offers this Subsidy Scheme to those students whose annual gross parental or family income is up to Rs.4.5 lakhs. How To Apply: • Go to the official website. • Complete sign up process to register. • Fill the details which asked for register. • Submit the Registration process and apply for educational loan. Official Website: Apply Online: Dr. Ambedkar Central Sector Scheme Of Interest Subsidy (CSIS) 2022 – Notification, Interest Rates, Income Limit, Apply Form Online Central Sector Interest Subsidy Scheme adopted by all Scheduled Banks and is linked with the existing Model Educational Loan scheme of the Indian Banks Association. The scheme is applicable to students belonging to Economically Weaker Sections and restricted to students enrolled in professional or technical courses only from NAAC accredited Institutions or professional or technical programmes accredited by NBA or Institutions of National Importa...

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Central Sector Interest Subsidy Scheme (CSIS) on Education Loans A government-backed subsidy scheme to help reduce the debt burden of students with education loans. The Indian Government started an interest subsidy scheme in 2009 to support students from economically weaker sections of society. It works by reducing their debt burden when they pursue higher education loans. It is known as the Central Sector Interest Subsidy (CSIS) Scheme since the Central Government takes care of the interest component arising during loan moratorium for eligible students who avail it. Once the moratorium ends, the students are liable to repay the loan. Let us take a look at the CSIS scheme in some detail. What is the Central Sector Interest Subsidy Scheme? The Central Sector Interest Subsidy (CSIS) scheme, as the name suggests, is an interest subsidy scheme under which the Central Government pays off the interest component that arises during the moratorium phase of the study loan on behalf of students. Eligible students have to apply for the CSIS scheme to get its benefits. For most higher education loans, the moratorium period includes the duration of the course and an additional time of 1 year after completion of the programme or 6 months after landing a job, whichever is earlier. Most people don’t know that the interest component keeps accruing during this moratorium and some banks even ask you to repay the interest during this time. The CSIS scheme helps to prevent this as the governmen...

Central Sector Interest Subsidy Scheme on Education Loan (CSIS) Interest Subsidy Scheme on Education Loan was launched on 1 April 2009. Under this CSIS Scheme, govt. provides full interest subsidy for education loans from Scheduled banks under Model Education Loan Scheme of Indian Banks Association. These loans covers a period of course duration + 1 year. Eligibility of Central Sector Interest Subsidy Scheme (CSIS) The student must belong to an Economically Weaker Section. Parental income should be lower than Rs 4.5 lacs per annum. For students enrolled in professional / technical courses from institutions - Accredited by NAAC (National Assessment and Accreditation Council) OR - Accredited by NBA or institutions of national importance or Centrally funded Technical Institutions (CFTIs) OR - Other professional institutions approved by respective regulatory body such as Medical Council of India, Dental Council of India, Indian Nursing Council, Bar Council of India etc. You can get subsidy just once. Therefore, you can either avail subsidy benefit for undergraduate course or for post-graduate course. You can't avail for both. You can avail subsidy if you have enrolled for an integrated program (undergraduate and post-graduate), Education loan must be taken under IBA (Indian Banks Association) Model Education Loan Scheme. IBA Model Loan Scheme is nothing complex but a simple education loan structure that the banks abide by. For instance, moratorium period under an IBA model loa...