Objective
The Scheme aims at providing financial support for pursuing higher education in Delhi.
Purpose
- Fee payable to college/ school/ hostel
- Examination/ Library/ Laboratory fee
- Insurance premium for student borrower
- Caution deposit, Building fund / refundable deposit supported by Institution bills/receipts
- Purchase of books/ equipment / instruments / uniforms
- Purchase of computer at reasonable cost, if required for completion of the course
- Any other expense required to complete the course – like study tours, project work, thesis, etc
- While computing the loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account.
- If the scholarship component is included in the loan assessment, it may be ensured that the scholarship amount gets credited to the loan account when received from the Government. (PNB Bank)
Eligibility
- Should be an Indian national.
- Students who wish to pursue diploma or degree or Specified skill development courses in Delhi and have done their Class-X and Class –XII from Delhi are eligible under this Scheme
- The student should have secured admission to a higher education course or specified Skill development courses (diploma or degree including bachelors, Masters and Doctoral Degree) in recognized institutions in Delhi through Entrance Test/ Merit Based Selection process after completion of Secondary Examination/ Senior Secondary Examination/ required qualifying examination.
Quantum Of Finance
- Need Based finance to meet expenses on course subject to Max Rs 10.00 lacs.
Margin
- Nil.
Security
- Parent(s)/guardian as joint borrower. No tangible Security and /or 3rd party guarantee is required.
Repayment (Maximum)
- Max 15 years.
Repayment Holiday/ Moratorium
- Course period + 1 year.
Prepayment Charges
- NIL.