6% Interest Subsidy on Loans taken through Banks for Study Abroad in Katni
6ISLBSA
Gujarat Tribal Development Corporation, Government of Gujarat
Guidance for businesses in Katni
The scheme aims to reduce financial stress for ST students pursuing foreign education by providing up to ₹1,50,000 subsidy on interest for 3 years.
At a glance
- Scheme Name
- 6% Interest Subsidy on Loans taken through Banks for Study Abroad
- Implementing Body
- Gujarat Tribal Development Corporation
- Target Audience
- Scheduled Tribe (ST) students from Gujarat's tribal areas
- Subsidy Rate
- 6% per annum on foreign-education loans
- Maximum Subsidy
- ₹1,50,000 over 3 years
- Applicable Loan Limit
- Up to ₹25,00,000
Benefits
Interest Subsidy:
- Interest subsidy of 6% per annum on loans taken through banks for foreign education.
Maximum Subsidy:
- Maximum subsidy of ₹1,50,000 for 3 years.
Loan Coverage:
- Applicable on loans up to ₹25,00,000.
Eligibility
- The applicant must be a resident of Gujarat's tribal areas.
- The applicant must belong to the Scheduled Tribe category.
- The applicant must have passed Higher Secondary Certificate (HSC) or equivalent examination.
- The applicant must have secured admission in a recognized foreign university for higher studies.
Documents required
- Aadhaar Card
- Birth Certificate
- Certificate of Professional Course
- Identity Card
- Marksheets
- Passport-size Photo
- Fee Reciept
- Bank Passbook/Cancelled Cheque
- Caste Certificate
- Loan Approval Letter
- School Leaving Certificate
How to apply
- 1
The interested applicant should visit (during office hours) at the office of the Project Administrator, Gujarat Tribal Development Corporation, Gandhinagar, and all tribal district offices and request a hard copy of the prescribed format of the application form from the staff exclusively entrusted to issue and collect filled-in applications.
- 2
In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attestted, if required).
- 3
Submit the duly filled and signed application form along with the documents to the office of the Tribal District Sponsorship Administrator.
- 4
Request a receipt or acknowledgment from the office of the Tribal District Sponsorship Administrator to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
About the scheme
The “6% Interest Subsidy on Loans taken through Banks for Study Abroad” is a scheme by the Gujarat Tribal Development Corporation that helps Scheduled Tribe (ST) students from Gujarat's tribal areas finance higher education abroad. It subsidises 6% per annum of the interest on their bank education loans.
The subsidy is available for up to 3 years, capped at ₹1,50,000, and applies to loans of up to ₹25,00,000—easing the cost of studying at a recognised foreign university.
Why it matters
- Eases Foreign Education Costs:
- A 6% interest subsidy lowers the burden of financing study abroad.
- Meaningful Support:
- Up to ₹1,50,000 over 3 years on loans up to ₹25,00,000.
- No Income Limit:
- There is no income ceiling for applicants.
- Empowers ST Students:
- Helps tribal students access global higher-education opportunities.
Focus areas
- Foreign Education:
- Support for higher studies at recognised universities abroad.
- Interest Subsidy:
- 6% per annum subsidy on education loans.
- Tribal Student Empowerment:
- Financial support for ST students from Gujarat.
Is this scheme right for you?
The “6% Interest Subsidy on Loans taken through Banks for Study Abroad” scheme opens doors to global higher education for Scheduled Tribe students from Gujarat. By subsidising 6% of the interest—up to ₹1,50,000 over 3 years on loans up to ₹25,00,000—the scheme makes studying abroad more affordable. If you are an ST student from Gujarat with admission to a recognised foreign university, this scheme can significantly ease your financial burden.
Frequently asked questions
Who is eligible for this scheme?
No, the application process is free of cost.
What is the maximum subsidy amount?
The maximum subsidy of ₹1,50,000 for 3 years.
Is there any income limit for applicants?
No, there is no income limit.
For how many years is the subsidy applicable?
For a maximum of 3 years.
What documents are required for application?
Aadhaar card, caste certificate, loan approval letter, educational mark sheets, admission letter, and fee receipts.
Is there any application fee?
No, the application process is free of cost.
Where should the application be submitted?
The application is submitted at the office of the Tribal District Sponsorship Administrator.
From where can the application form be obtained?
From the Project Administrator office of Gujarat Tribal Development Corporation, Gandhinagar, or tribal district offices.
Is the scheme available for studies within India?
No, it is only for studies abroad.
Can I apply for this scheme online?
No, the application process is offline.
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