1) Duration of the course should span from 2 months to 3 years.
2)The course needs to be supported or run by a ministry/government organization, an organisation supported by State Skill Mission/Corporation or National Skill Development Corporation.
3)The course should preferably bestow the student with a certificate or diploma degree.
4) State Level Bankers (SLBC) may add other skill development courses on the basis of good job prospects.
Studies/Courses in India:
1) Courses leading to graduate/post graduate degree and P.G diplomas.
2)The courses need to be conducted by colleges/universities recognised by UGC/Govt./AIBMS/AICTE/ICMR
3) Other courses like ICWA, CA, CFA, etc.
4) Courses conducted by management, design, and other institutes like IIM, IIT, IISc, XLRI, NIFT, NID, etc.
5)Courses like Aeronautical, pilot training, shipping, nursing or any other discipline. These courses should be approved by Director General of Civil Aviation/Shipping/Indian Nursing Council. It can also be approved by any other regulatory body.
6) Courses offered by reputed foreign universities, in India.
7) Other courses may also be considered on the basis of employability.
Vocational Education- Up to 3 months- Rs. 20,000
Vocational Education - 3 to 6 months -Rs. 50,000
Vocational Education - 6 months to 1 year -Rs. 75,000
Above 1 year- Rs. 1,50,000-Studies in India
Maximum up to Rs. 10 lakhs-Studies abroad-Maximum up to Rs. 20 lakhs
General Public - ROI- 13.25% for up to 4 Lakhs, 13.50% for 4 to 7 Lakhs & 12.75% for above 7.50 lakhs
Co-borrower- ROI- 12.25% for up to 4 Lakhs, 12.50% for 4 to 7 Lakhs & 11.75% for above 7.50 lakhs
Up to Rs. 50,000 - Up to 2 years
Rs. 50,000 - Rs. 1 lakh - 2 - 5 years
Above Rs. 1 lakh - 3-7 years
Studies in India and abroad:
Up to Rs. 7.5 lakhs - Up to 10 years
Above Rs. 7.5 Lakhs - Up to 15 years
No margin is applicable on loan amount up to Rs. 4 lakhs.
5% margin is applicable on loan amount above Rs. 4 lakhs, for studies in India.
15% margin is applicable on loan amount above Rs. 4 lakhs, for studies abroad.
Security of Rs. 2000 (in lieu of processing fee) is to be kept as reserve in the savings account.
Concession in Interest (if collateral in addition to guarantee is given) : No Concession up to 4 Lakhs, 0.50% for 4 to 7 Lakhs & No Concession for above 7.50 lakhs