About this banking scheme
The Education Loan Scheme offers loans to students from Other Backward Classes (OBC) for pursuing professional or technical courses. Loans can be up to Rs. 30 lakhs for studies in India and Rs. 40 lakhs for abroad. Apply anytime online or offline through the National Scheduled Castes Finance and Development Corporation (NSFDC).
The Education Loan Scheme supports students from Other Backward Classes (OBC) in India. It aims to help them pursue professional and technical education.
The scheme is managed by the Ministry of Social Justice and Empowerment. It is implemented by the National Scheduled Castes Finance and Development Corporation (NSFDC).
Eligible students can receive financial assistance for their studies, covering various courses approved by the government.
This scheme is important as it opens doors to higher education for students who may face financial challenges.
Benefits at a glance
| Scheme name | Education Loan Scheme (ELS) |
|---|---|
| Launched by | Ministry Of Social Justice and Empowerment |
| Department | Department of Social Justice & Empowerment |
| Benefit | 10 years for loans up to Rs. 10 lakhs |
| Benefit type | In kind (goods, services or support, not cash) |
| Category | Banking |
| Level / State | Central · All India |
| Official portal | nbcfdc.gov.in (link at the end of this page) |
Key facts
| Scheme type | Centrally Sponsored Scheme |
|---|---|
| Implementing agency | National Scheduled Castes Finance And Development Corporation (NSFDC) |
| Scheme for | Individual |
| Application mode | Online / Offline |
| Last date | Ongoing (no last date notified) |
| Repayment period for loans in India | 10 years for loans up to Rs. 10 lakhs |
| Repayment period for loans abroad | 12 years for loans up to Rs. 10 lakhs |
| Moratorium period | 6 months after course completion or employment |
| Application modes | Online and Offline |
| Family income limit | Up to Rs. 3 lakh per year |
Who can apply (quick check)
- 👤All genders
- 🎂Age 18 to 35 years
- 🏷️OBC
- 💰Income Rs. 3 lakh tak
- 📝Online / Offline
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
- Loan amount: Up to Rs. 30 lakhs for studies in India
- Loan amount: Up to Rs. 40 lakhs for studies abroad
- Interest rate: 6% for male candidates, 5.5% for female candidates (for studies in India)
- Interest rate: 7% for male candidates, 6.5% for female candidates (for studies abroad)
The loan covers up to 90% of the course fee. Repayment must be completed within 10 years for loans up to Rs. 10 lakhs in India, and within 12 years for loans up to Rs. 10 lakhs abroad.
Who qualifies
- Must belong to Other Backward Class (OBC)
- Age between 18 and 35 years
- Annual family income should not exceed Rs. 3 lakhs
- Can apply online or offline
Who is not eligible
- Students who have completed their course cannot apply
Papers to keep ready
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Registration walkthrough
- Online: Visit the official website and fill the Education Loan Application Form. Submit the form.
- Offline: Download the application form, fill it, attach required documents, and submit it to the nearest bank or NSFDC office.
To check the application status, visit the official portal and log in using your credentials. You can also contact the NSFDC office for assistance.
Real-life examples: are you eligible?
A quick way to gauge your eligibility: find the profile nearest to yours.
Every case differs. Confirm your eligibility on the official portal before applying.
- Not providing complete documents can lead to rejection.
- Applying after course completion is not allowed.
- Incorrect income details may cause disqualification.
- Missing the age criteria results in ineligibility.
- Not applying through the correct channel can delay processing.
Frequently asked questions
What is the maximum loan amount?
The maximum loan amount is Rs. 30 lakhs for studies in India and Rs. 40 lakhs for studies abroad.
Who manages this scheme?
The Ministry of Social Justice and Empowerment manages this scheme.
Can I use the loan for vocational courses?
Yes, the loan can be used for recognized vocational courses.
What is the interest rate for female candidates?
The interest rate is 5.5% for female candidates studying in India.
Is there a moratorium period?
Yes, there is a 6-month moratorium period after course completion or employment.
How do I apply for this loan?
You can apply online or offline through the NSFDC.
What happens if I miss the application deadline?
There is no specified deadline; applications are ongoing.
What should I do if my application is rejected?
You can check the reasons for rejection and reapply with the correct documents.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Guidelines nbcfdc.gov.in
- FAQs nbcfdc.gov.in (PDF)
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
First draft prepared with editorial AI tools; every fact verified against the official notification and rewritten by our team.
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