For the Students:
We understood that the challenges facing by the BPL/APL Families to pay the fee lumpsump for their skill development training so we arrange the financial assistance to the students who are enrolled for the training program through financial institution. Students can pay their training fee by in different instalments through the financial institutes.
Financial Assistance or Skill Loan Facilitate for Students:
The Financial Assistance or Skill Loan Scheme is to provide institutional credit to individuals for skill development courses aligned to National Association of Skill Development and leading to a certificate/diploma/degree by training institutes as per NASD.
This scheme is applicable to all member banks and financial institutions as per MoU signed the scheme provides broad guidelines to the banks for operationalizing the financial assistance for the scheme.
Salient features for the Financial Assistance/Skill Loan Facilities:
Eligibility –Any individual who has secured admission in a course run by Authorized Training Centre, training partners affiliated with NASD.
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- Courses – Aligned to NASD
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- Duration of Course – No minimum duration
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- Rate of Interest – As per Course Duration.
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- Repayment Period – Between 1 to 5 years basis the amount of loan
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- Financial Assistance/Loans up to ₹ 25,000 – ₹3,00,000/-
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- Coverage – Course Fees (directly to the training institute) along with expenses towards completion of the course (assessment, examination, study material, etc.)
- The scheme does not allow for a collateral to be charged from the beneficiary.
For the Training Centers Infra
We are also working towards the infra structure development financial assistance to the training center to enhance the Standard/ Quality of the training infra. It will be arranged near future.