Sarkari Yojana
Education Loan Scheme – Delhi
About Education Loan Scheme – Delhi
The Delhi SC/ST/OBC/Minorities and Handicapped Financial Development Corporation Ltd., Government of Delhi, offers the “Education Loan Scheme” to fund students from Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC), Minorities and Persons with Disabilities (PwD) who want to take up professional and technical courses at recognised institutions in India and overseas. Loans are need-based, capped at ₹7,50,000/- for courses in India and ₹15,00,000/- for courses abroad. Applicants must be permanent residents of Delhi whose annual family income is below ₹5,00,000/-.
Scheme Overview
State Government
Individual
Scheme Details
Eligibility Requirements
To qualify for Education Loan Scheme - Delhi, applicants must satisfy the following conditions:
Only permanent residents of Delhi can apply
Only permanent residents of Delhi can apply.
The applicant must fall within one of these…
The applicant must fall within one of these target groups: Scheduled Caste, Scheduled Tribe, Other Backward Class, Minority or Persons with Disability.
Yearly income of the parents/guardian must be under…
Yearly income of the parents/guardian must be under ₹5,00,000/-.
The applicant should have secured admission to a…
The applicant should have secured admission to a recognised/Government/Technical Institution in India or abroad.
The course should have been run by the…
The course should have been run by the College/Institute for the past three years.
The College/Institute must be recognised by the Central/State…
The College/Institute must be recognised by the Central/State Government or a relevant authority like UGC (University Grants Commission), AICTE (All India Council for Technical Education), etc.
The course must not last longer than 5…
The course must not last longer than 5 years. Post Sanction Eligibility for the Borrower
The borrower should avoid any unlawful activity that…
The borrower should avoid any unlawful activity that could bar them from studying and must abide by all rules and regulations of the educational institution.
While the loan is running, the borrower must…
While the loan is running, the borrower must not take on any other monetary obligation or financial liability.
After finishing the course, the borrower should make…
After finishing the course, the borrower should make every effort to find suitable work and report complete details of that employment, income included, to DSFDC.
Benefits Provided
Education Loan Scheme - Delhi provides the following benefits to eligible applicants:
Finance based on need, up to a maximum…
Finance based on need, up to a maximum of ₹7,50,000/-, for courses in India.
Finance based on need, up to a maximum…
Finance based on need, up to a maximum of ₹15,00,000/-, for courses abroad. Loans up to ₹4,00,000/- need no promoter's contribution. Loans exceeding ₹4,00,000/- require a contribution of 5% for studies in India and 15% for studies abroad. Repayment can extend up to 10 years after repayment starts or until the date of employment, whichever comes first. Borrowers may choose to clear the loan ahead of schedule.
Documents Required
Applicants should keep the following documents ready before starting the application:
Pre-Sanction/With Application
Aadhaar Card copies of the Borrower (Applicant), the…
Aadhaar Card copies of the Borrower (Applicant), the Co-Borrower (Parents/Guardian) and the Guarantor.
Income Certificate copy from the office of the…
Income Certificate copy from the office of the SDM concerned, or a copy of the Co-Borrower's Form No. 16.
Mark sheet copy of the last examination on…
Mark sheet copy of the last examination on the strength of which admission to the present course was obtained.
Four passport size photographs each of the Borrower,…
Four passport size photographs each of the Borrower, Co-Borrower and Guarantor, plus one full-size photograph of the Borrower where the applicant is from the PwD category.
Copy of the birth certificate or other age…
Copy of the birth certificate or other age proof.
SC/ST/OBC Caste Certificate copy from the area SDM/DC…
SC/ST/OBC Caste Certificate copy from the area SDM/DC concerned, or an affidavit for the Minority category; PwD applicants must give a Disability Certificate (40% or More) from the Medical Board of a Government Hospital, Delhi.
Affidavit declaring that no loan for the same…
Affidavit declaring that no loan for the same purpose has been taken from any Government agency.
Copies of letters confirming any scholarship, freeship or…
Copies of letters confirming any scholarship, freeship or studentship.
Evidence of admission to the recognised course/institute
Evidence of admission to the recognised course/institute.
Copy of the course fee payment schedule or…
Copy of the course fee payment schedule or demand notice from the Institution/University.
Foreign Expenses Permit copies (where applicable)
Foreign Expenses Permit copies (where applicable).
Borrower's and Co-Borrower's bank account statements covering the…
Borrower's and Co-Borrower's bank account statements covering the past six months.
Bank-attested signature identification of the Borrower and Co-Borrower
Bank-attested signature identification of the Borrower and Co-Borrower.
Statement of assets and liabilities of the Borrower/Co-Borrower
Statement of assets and liabilities of the Borrower/Co-Borrower. Post-Sanction
Copy of the signed Acceptance of Sanction-Cum Agreement…
Copy of the signed Acceptance of Sanction-Cum Agreement Letter.
Executed Guarantee Deed
Executed Guarantee Deed.
Executed Hypothecation Deed
Executed Hypothecation Deed.
Legal Heir affidavit
Legal Heir affidavit.
Personal Guarantee affidavit from the Borrower and Co-Borrower
Personal Guarantee affidavit from the Borrower and Co-Borrower.
ECS (Electronic Clearing Service) mandate or Post-Dated Cheques
ECS (Electronic Clearing Service) mandate or Post-Dated Cheques.
Processing Fee of ₹350/-
Processing Fee of ₹350/-.
Two witnesses, each with a copy of ID…
Two witnesses, each with a copy of ID proof.
Copy of the student's result for the previous…
Copy of the student's result for the previous year.
Undertaking not to close the bank account until…
Undertaking not to close the bank account until repayment is complete.
Documents Required in Respect of the Guarantor
Documents Required in Respect of the Guarantor:
Copy of Aadhaar Card/Election Card/Passport
Copy of Aadhaar Card/Election Card/Passport.
Copy of the employer-issued identity card
Copy of the employer-issued identity card.
Original latest salary slip and Form 16
Original latest salary slip and Form 16.
Age proof copy of the Guarantor(s)
Age proof copy of the Guarantor(s).
04 Passport Size Photographs
04 Passport Size Photographs.
Affidavit from the Guarantor(s)
Affidavit from the Guarantor(s).
5 Post-Dated Cheques (PDC) from the Guarantor(s) where…
5 Post-Dated Cheques (PDC) from the Guarantor(s) where the loan exceeds ₹2,00,000/-.
Copy of the Guarantor(s)' undertaking to act as…
Copy of the Guarantor(s)' undertaking to act as Guarantor/Surety. OR Original collateral security by way of NSC (National Savings Certificate)/KVP (Kisan Vikas Patra)/FDR (Fixed Deposit Receipt), with a Letter of Lien in favour of DSFDC. OR Original property documents for mortgage, with the full chain of title, if the applicant prefers to offer property as collateral security.
How to Apply
Offline Application
Applicants can apply for Education Loan Scheme - Delhi through the offline application process outlined below.
Application forms for the Education Loan Scheme can…
Application forms for the Education Loan Scheme can be collected free of charge from these branches:
2-Battery Lane, Rajpur Road, Delhi-54.
A-33-38, B-Block, Lal Building, Opposite Police Station, Mangol Puri, Delhi.
A-Block, 1st Floor, Bunker Vihar, Deputy Commissioner’s Office (North East), Opposite Gagan Cinema, Nand Nagri, Delhi.
The prescribed format of the form may also be downloaded from DSFDC's official website.
Fill in the form carefully with a black…
Fill in the form carefully with a black ball pen, giving correct personal, course and financial details. Complete every mandatory field, affix a passport-sized photograph and attach copies of the mandatory documents (self-attested where required).
Hand in the completed form and documents to…
Hand in the completed form and documents to - The Deputy Manager (Education Loan) in Room No. 208, 2nd Floor, Ambedkar Bhawan, Sector-16, Rohini, Delhi-89. Carry the original documents for verification when submitting. Application Review When DSFDC approves the application, a sanction-cum agreement letter is issued. The applicant has to sign the agreement and finish remaining formalities such as executing the guarantee deed or hypothecation deed. For more details or queries, reach DSFDC on: Phone No.: 011-27574521 & 27574377.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.