About this banking scheme
The Vocational Education and Training Loan Scheme provides financial assistance to youth of the target group to enhance their skills & employability.
The scheme "Vocational Education and Training Loan Scheme" implemented by the National Safai Karamcharis Finance and Development Corporation under the Ministry of Social Justice and Empowerment, provides financial assistance to eligible youth of the target group of NSKFDC for pursuing vocational education and training courses. It aims to improve skills, employability, and self-reliance among beneficiaries. Financial support is available for courses run or supported by Government Ministries, Departments, NSDC, or State Skill Missions. The course duration should be from 6 months up to 2 years and may lead to a recognized certificate, diploma, or degree. Assistance is provided for up to 90% of the course expenses, subject to the prescribed loan limit.
Benefits at a glance
| Scheme name | Vocational Education and Training Loan Scheme (VETLS) |
|---|---|
| Launched by | Ministry Of Social Justice and Empowerment |
| Benefit type | Cash (money paid to your bank account) |
| Category | Banking |
| Level / State | Central · All India |
| Official portal | nskfdc.nic.in (link at the end of this page) |
Key facts
| Scheme type | Central Sector Scheme |
|---|---|
| Scheme for | Individual |
| Application mode | Online |
| Last date | Ongoing (no last date notified) |
| DBT (direct bank transfer) | No |
| Age | No lower limit to 2 years |
Who can apply (quick check)
- 👤All genders
- 🎂Age 0 to 2 years
- 📝Online
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
Quantum of loan
- Need-based finance to meet up to 90% of expenses shall be considered subject to the following Ceilings:
- For courses of duration up to 2 years: up to Rs. 4,00,000/-
Note: In case of cost over-run, it shall be borne by the beneficiary.
Interest
National Safai Karamcharis Finance & Development Corporation (NSKFDC) shall charge interest @ 1% per annum from the Channelizing Agency, which, in turn, shall charge 4% per annum from the beneficiaries. In the case of women, an interest rebate of 0.5% shall be provided.
Repayment: Up to 7 years.
Who qualifies
Eligibility Criteria:
- The person should be from the target group of NSKFDC.
- The person should have secured admission in a course run or supported by a Ministry, Department, or Organization of the Government or a company, society, or organization supported by the National Skill Development Corporation or State Skill Missions/State Skill Corporations, preferably leading to a Certificate/Diploma/Degree etc. Issued by a Government Organization or an Organization recognized/authorized by the Government to do so.
Course Eligibility:
Vocational Education and training courses of the duration of a minimum 6 months and up to 2 years run or supported by a Ministry/Department/Organization of the Government or a Company/Society/Organization supported by a National Skill Development Corporation or State Skills/Mission/State Skill Corporations.
Age Eligibility:
The candidate should attain a minimum age of 18 years on completion of the course. The upper age limit is up to 50 years.
Who is not eligible
<br>
Papers to keep ready
0/6 documents ready
Tap a document to mark it as ready. Progress is saved on this device.
Registration walkthrough
Online
Step 1: Visit the official website.
Step 2: Click on How to Apply. Tap on the Loan application form.
Step 3: Click on Loan application form.https://nskfdc.nic.in/en/content/how-apply/loan-application-form
Step 4: Fill in all the details and tap Save to save the application form.
Frequently asked questions
What is the age criteria to apply?
The candidate should attain a minimum age of 18 years upon completion of the course. The upper age limit is up to 50 years.
What are the expenses to be considered for Vocational Education and Training Course?
Admission/Tution fee
Examination, Library, Laboratory Fee
Caution Deposit
Purchase of Books, Equipments, Instruments
Boarding & Lodging
Insurance for loan amount
Any other reasonable expenses found necessary for the completion of the course certified by the vocational education & training institute.
In how much time will the loan have to be repaid?
The loan will have to be repaid for up to 7 years.
What is rate of interest of the loan?
NSKFDC shall charge interest at 1% per annum from the channeling agency, which, in turn, shall charge 4% per annum from the beneficiaries. In the case of women, an interest rebate of 0.5% shall be provided.
What is the course eligiblity?
Vocational Education & Training courses of duration of minimum 6 months and upto 2 years run or supported by Ministry/Department/Organization of the Government or a Company/Society/Organization supported by a National Skill Development Corporation or State Skills/Mission/State Skill Corporations.
What is the eligiblity criteria?
The person should be from the target group of NSKFDC.
The person should have secured admission in a course run or supported by a Ministry/Deptt./Organization of the Government or a Company/Society/Organization supported by National Skill Development Corporation or State Skill Missions/State Skill Corporations, preferably leading to a Certificate/Diploma/Degree etc. Issued by a Government Organization or an Organization recognized/authorized by the Government to do so.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Official Website nskfdc.nic.in
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
Explore more
