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National Toll Free No1800 425 00 000

IB Skill Loan Scheme

IB Skill Loan Scheme

Indian Bank provides convenient educational loans for meritorious/deserving students to acquire knowledge and skill in the field of their interest. By playing beacon, new-generation’s quest for success is ably supported, paving way for Generation Banking.

CLICK HERE to apply for educational loan online through Vidyalakshmi Portal

Eligibility

  • Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/ Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF).

Amount of Loan

  • Minimum- Rs.5000/-
  • Maximum- Rs.1.50 Lakh

Margin

  • 10%

Interest Rates

  • Click here for the details

Repayment

  • Loans upto Rs.50,000         : Upto 3 years
  • Loans between Rs.50,000 to Rs.1 lakh    : Upto 5 years
  • Loans above Rs.1 lakh         : Upto 7 years

Security

  • Nil
  • Credit Guarantee Fund Scheme for Skill Development (CGFSSD) is available.

Salient Features

  • To meet the cost of education covering fee payable to Tuition / course fee, Any other reasonable expenditure found necessary for completion of the course including but not limited to assessment fee, Examination fee, Library charges, Laboratory fee, Caution deposit, Purchase etc.

Other Requirements/Details

  • Application has to be applied online at www.vidyalakshmi.co.in mandatorily.
  • Click here for the checklist of documents required.

( Last modified on Dec 19, 2018 at 07:12:37 PM )