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Ministry Of Social Justice and Empowerment

Education Loan Scheme

Education
Insurance
Loan
Other Backward Class
Details
Benefits
Eligibility
Application Process
Documents Required
Frequently Asked Questions
The objective of the "Education Loan" scheme by the National Backward Classes Finance And Development Corporation, Ministry of Social Justice & Empowerment, is to extend Education Loans to the students of Backward Classes for pursuing professional/technical education at the graduate and higher levels and for pursuing vocational Courses. All professional and technical courses at the graduate and higher levels are approved by the appropriate authority and vocational courses.

COURSES COVERED
All professional and technical courses at the graduate and higher levels are approved by an appropriate authority and vocational courses.

MORATORIUM PERIOD
The moratorium period for recoveries from these Channel Partners is hereby uniformly fixed as five years irrespective of the type and duration of the course for which loans are provided.

REPAYMENT
The maximum recovery period may be 10 years after the lapse of the moratorium period of 5 years i.e. the loan will require to be repaid to NBCFDC by the Channel Partner within 15 years of the same being disbursed.

PRE-PAYMENT OF LOAN
The borrower can repay the loan any time after the commencement of repayment of the loan. No pre-closure charges shall be insisted from the beneficiary in case of early repayment of the loan.
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