6% Interest Subsidy on Loans taken through Banks for Study Abroad in Bhiwani
6ISLBSA
Gujarat Tribal Development Corporation, Government of Gujarat
Guidance for businesses in Bhiwani
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 for Study Abroad
- Implementing Body
- Gujarat Tribal Development Corporation
- Interest Subsidy
- 6% per annum
- Maximum Subsidy
- ₹1,50,000 (over 3 years)
- Loan Ceiling
- ₹25,00,000
- Beneficiaries
- Scheduled Tribe students (foreign study)
Benefits
Interest subsidy of 6% per annum on loans taken through banks for foreign education.
Maximum subsidy of ₹1,50,000 for 3 years.
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
Visit (during office hours) the office of the Project Administrator, Gujarat Tribal Development Corporation, Gandhinagar, and all tribal district offices, and request a hard copy of the prescribed application form from the staff entrusted to issue and collect filled-in applications.
- 2
Fill in all mandatory fields and attach copies of all mandatory documents (self-attested, 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 (ensuring it contains the date and time of submission and a unique identification number, if applicable).
About the scheme
This Gujarat scheme, run by the Gujarat Tribal Development Corporation, reduces financial stress for Scheduled Tribe students pursuing foreign education. It provides a 6% per annum interest subsidy on loans taken through banks (up to ₹25,00,000), with a maximum subsidy of ₹1,50,000 over 3 years.
Why it matters
- Interest Subsidy:
- 6% per annum on foreign-study loans.
- Up to ₹1,50,000:
- Maximum subsidy over 3 years.
- ST Students:
- For Scheduled Tribe students from tribal areas.
- Foreign Education:
- Supports higher studies abroad.
Focus areas
- Foreign Education:
- Support for studying abroad.
- Interest Subsidy:
- 6% subsidy on bank loans.
- ST Students:
- Empowering tribal students of Gujarat.
Is this scheme right for you?
This scheme helps Gujarat's Scheduled Tribe students pursue foreign education by subsidising 6% of their loan interest (up to ₹1,50,000 over 3 years). If you are an ST student from Gujarat's tribal areas admitted to a recognized foreign university, this scheme can ease your loan 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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