The Central Subsidy scheme from the HRD Ministry provides a full interest subsidy for students availing Indian Bank education loans from the weaker sections of the society with a maximum parental annual family income of Rs. 4.50 lakhs. The subsidy is valid for the entire course period plus one year after course completion or six months after getting a job, whichever is earlier. The Indian Bank education loan subsidy scheme is applicable for undergraduate or postgraduate studies in technical and professional courses in India and can be availed only once. The interest rates that will be charged on an Indian Bank educational loan will be as per the BPLR or the base rate. The subsidy scheme can be used by students applying for courses in UGC/AICTE recognized institutions, IIMs and other Central or State Government institutions.
Eligible Courses
Non-Eligible Courses
UG and PG courses in -
1. Engineering
2. Medical
3. Para Medical
4. Agriculture
5. Veterinary
6. Law
7. Dental
8. Management
9. Computer Science
PG Diploma Courses approved by
AICTE/UGC
Courses pursued abroad or without completing Class XII.
Non-Professional and Non-Technical UG and PG courses in
· Arts
· Science
· Commerce
· Sociology
· Music
Diploma Courses
Teacher Training Courses
Skill Development
Vocational Training courses