Sarkari Yojana
Interest Subsidy Scheme on Education Loan
About Interest Subsidy Scheme on Education Loan
Through the “Interest Subsidy Scheme on Education Loan”, the Education Department, Government of Gujarat, seeks to relieve students fully of interest costs by subsidising 100% of the interest on education loans for the whole moratorium period, which covers the years of study plus 1 extra year after the course ends.
Scheme Overview
State Government
Individual
Scheme Details
Eligibility Requirements
To qualify for Interest Subsidy Scheme on Education Loan, applicants must satisfy the following conditions:
Residence in Gujarat is compulsory
Residence in Gujarat is compulsory.
Only students are eligible
Only students are eligible.
A minimum of 60 percentile in the HSC…
A minimum of 60 percentile in the HSC (Higher Secondary Certificate) is needed.
An education loan must have been taken from…
An education loan must have been taken from a recognised bank for higher studies in India or abroad.
Family income per year must not go above…
Family income per year must not go above ₹6,00,000/-.
Benefits Provided
Interest Subsidy Scheme on Education Loan provides the following benefits to eligible applicants:
Interest Subsidy Assistance
Interest Subsidy Assistance: On education loans of up to ₹10,00,000/-, the full 100% of interest is subsidised during the moratorium period (course duration + 1 year).
Documents Required
Applicants should keep the following documents ready before starting the application:
For Fresh Application:
Photo of passport size (Max 50 KB)
Photo of passport size (Max 50 KB).
Signature image (Max 50 KB)
Signature image (Max 50 KB).
Standard 12 / Diploma marksheet
Standard 12 / Diploma marksheet.
Aadhaar Card
Aadhaar Card.
Ration Card
Ration Card.
Income Certificate attested by the Talati-cum-Mantri / Mamlatdar…
Income Certificate attested by the Talati-cum-Mantri / Mamlatdar / TDO.
Any one residence proof
Any one residence proof: Passport / Driving License / Bank Statement / Ration Card / Telephone Bill / Electricity Bill / Voter ID.
Education Loan Agreement copy bearing the Bank Manager's…
Education Loan Agreement copy bearing the Bank Manager's signature and stamp.
Education Loan Sanction Letter copy in KCG format,…
Education Loan Sanction Letter copy in KCG format, signed and stamped by the Bank Manager.
Education Loan Disbursement Letter copy in KCG format,…
Education Loan Disbursement Letter copy in KCG format, signed and stamped by the Bank Manager.
Education Loan Account statement covering the first withdrawal…
Education Loan Account statement covering the first withdrawal date to today, signed and stamped by the Bank Manager.
Interest Certificate from the bank, signed and stamped…
Interest Certificate from the bank, signed and stamped by the Bank Manager.
Any one of
Any one of: first page of the Savings Account Passbook / Bank Statement / Cancelled Cheque.
Admission Letter printed on College/University Letterhead with Signature…
Admission Letter printed on College/University Letterhead with Signature and Stamp.
Fee Receipts for the First Year / First…
Fee Receipts for the First Year / First Two Semesters.
Self-Declaration Certificate saying "No benefit from other scheme",…
Self-Declaration Certificate saying "No benefit from other scheme", in the KCG format given on the website.
Copy of Passport (students abroad only)
Copy of Passport (students abroad only).
Copy of Visa or Visa Letter (students abroad…
Copy of Visa or Visa Letter (students abroad only).
Power of Attorney (students abroad only)
Power of Attorney (students abroad only). For Renewal Application:
Aadhaar Card
Aadhaar Card.
Ration Card
Ration Card.
Income Certificate attested by the Talati-cum-Mantri / Mamlatdar…
Income Certificate attested by the Talati-cum-Mantri / Mamlatdar / TDO.
Education Loan Account statement from the first withdrawal…
Education Loan Account statement from the first withdrawal date to the present, signed and stamped by the Bank Manager.
Education Loan Disbursement Letter copy in KCG format,…
Education Loan Disbursement Letter copy in KCG format, signed and stamped by the Bank Manager.
Bank Interest Certificate with the Bank Manager's signature…
Bank Interest Certificate with the Bank Manager's signature and stamp.
Marksheets for every Year / Semester passed
Marksheets for every Year / Semester passed.
Fee Receipts for every Year / Semester
Fee Receipts for every Year / Semester.
How to Apply
Online Application
Applicants can apply for Interest Subsidy Scheme on Education Loan through the online application process outlined below.
Registration Process:
Go to the Official Website and provide all…
Go to the Official Website and provide all the details requested.
Choose a username and password
Choose a username and password.
Check the information and press "Register"
Check the information and press "Register". Application Process:
Open the Official Website and log in with…
Open the Official Website and log in with your username and password.
Complete the online form with all relevant information
Complete the online form with all relevant information.
Upload the necessary documents in the prescribed format,…
Upload the necessary documents in the prescribed format, where required.
Press "Submit" to finish applying
Press "Submit" to finish applying.
Once every detail has been entered and the…
Once every detail has been entered and the form submitted, print the acknowledgment receipt.
Along with the printed acknowledgment receipt, send all…
Along with the printed acknowledgment receipt, send all documents listed in the checklist to KCG in person or by courier, with every document self-attested. Contact Us: Kcg E-Mail Id: isel-kcgat]gujgovdot]edudot]in Helpline No: 9909039380 (10:30 AM to 6:00 PM)
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.