Vocational Education and Training Loan Scheme
The Vocational Education and Training Loan Scheme provides financial assistance to youth of the target group to enhance their skills & employability.
About the Vocational Education and Training Loan Scheme Scheme
The scheme "Vocational Education and Training Loan Scheme" implemented by the National Safai Karamcharis Finance and Development Corporation under the Ministry of Social Justice and Empowerment, provides financial assistance to eligible youth of the target group of NSKFDC for pursuing vocational education and training courses. It aims to improve skills, employability, and self-reliance among beneficiaries. Financial support is available for courses run or supported by Government Ministries, Departments, NSDC, or State Skill Missions. The course duration should be from 6 months up to 2 years and may lead to a recognized certificate, diploma, or degree. Assistance is provided for up to 90% of the course expenses, subject to the prescribed loan limit.
<br>
Benefits
Quantum of loan
- Need-based finance to meet up to 90% of expenses shall be considered subject to the following Ceilings:
- For courses of duration up to 2 years: up to Rs. 4,00,000/-
> Note: In case of cost over-run, it shall be borne by the beneficiary.
Interest
National Safai Karamcharis Finance & Development Corporation (NSKFDC) shall charge interest @ 1% per annum from the Channelizing Agency, which, in turn, shall charge 4% per annum from the beneficiaries. In the case of women, an interest rebate of 0.5% shall be provided. ****
Repayment: Up to 7 years.
<br>
Eligibility Criteria
> Eligibility Criteria:
- The person should be from the target group of NSKFDC.
- The person should have secured admission in a course run or supported by a Ministry, Department, or Organization of the Government or a company, society, or organization supported by the National Skill Development Corporation or State Skill Missions/State Skill Corporations, preferably leading to a Certificate/Diploma/Degree etc. Issued by a Government Organization or an Organization recognized/authorized by the Government to do so.
> Course Eligibility:
Vocational Education and training courses of the duration of a minimum 6 months and up to 2 years run or supported by a Ministry/Department/Organization of the Government or a Company/Society/Organization supported by a National Skill Development Corporation or State Skills/Mission/State Skill Corporations.
> Age Eligibility:
The candidate should attain a minimum age of 18 years on completion of the course. The upper age limit is up to 50 years.
<br>
How to Apply for Vocational Education and Training Loan Scheme
Application mode: Online
Step 1: Visit the official website.
Step 2: Click on How to Apply. Tap on the Loan application form.
Step 3: Click on Loan application form.
Step 4: Fill in all the details and tap Save to save the application form.
<br>
Exclusions
<br>
Frequently Asked Questions
What is the Vocational Education and Training Loan Scheme scheme?
The scheme &quot;Vocational Education and Training Loan Scheme&quot; implemented by the National Safai Karamcharis Finance and Development Corporation under the Ministry of Social Justice and Empowerment, provides financial assistance to eligible youth of the target grou…
Who is eligible for Vocational Education and Training Loan Scheme?
Eligibility Criteria: The person should be from the target group of NSKFDC. The person should have secured admission in a course run or supported by a Ministry, Department, or Organization of the Government or a company, society, or organization supported by the National Skill Development Corporati…
What benefits does Vocational Education and Training Loan Scheme provide?
Quantum of loan Need-based finance to meet up to 90% of expenses shall be considered subject to the following Ceilings: For courses of duration up to 2 years: up to Rs. 4,00,000/- Note: In case of cost over-run, it shall be borne by the beneficiary. Interest National Safai Karamcharis Finance &…
How can I apply for Vocational Education and Training Loan Scheme?
Step 1: Visit the official website. Step 2: Click on How to Apply. Tap on the Loan application form. Step 3: Click on Loan application form. Step 4: Fill in all the details and tap Save to save the application form. <br
Source: official scheme details published on the Government of India's myScheme portal. Always verify eligibility and deadlines on the official portal before applying. Scheme rules can change.
Related Government Schemes
Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women
The scheme aims to provide self-employment loans to women from minority communities. Financial assistance with a 20% subsidy is provided to widows, divorced women, and abandoned women from minority communities. The scheme is implemented by the KSMDFC.
"Agricultural Income Tax Holiday" under the "Assam Tea Industries Special Incentives Scheme"
The scheme aims to ensure long-term financial sustainability of the Tea industry and to incentivize manufacturers to move from Crush, Tear, Curl tea to Orthodox tea production. The scheme is implemented by the Finance Department and the Industries & Commerce Department, Government of Assam.
"Annual Insurance Premium for Boat Owners" under "Financial Assistance for Availing Subsidy Components for the Development of Marine Fisheries"
"Annual Insurance Premium for Boat Owners" under "Financial Assistance for Availing Subsidy Components for the Development of Marine Fisheries" is introduced to increase marine fish production through subsidies for the annual premiums for insurance coverage paid by the mechanized boat operators.
"Interest Subvention on Working Capital" under the "Assam Tea Industries Special Incentives Scheme"
The scheme aims to ensure long term financial sustainability of the Tea industry and incentivize Orthodox tea production over Crush, Tear, Curl tea. It provides interest subvention, production subsidies, plant & machinery subsidies, tax holidays to tea plantations and manufacturing units in Assam.
"Orthodox or Specialty Tea Production Subsidy" under the "Assam Tea Industries Special Incentives Scheme"
The scheme aims to ensure long-term financial sustainability of the Tea industry and to incentivize manufacturers to move from Crush, Tear, Curl tea to Orthodox tea production. The scheme is implemented by the Finance Department and the Industries & Commerce Department, Government of Assam.
"Subsidy for Orthodox & Speciality Tea Unit for Plant & Machinery" under the "Assam Tea Industries Special Incentives Scheme"
The scheme aims to ensure long-term financial sustainability of the Tea industry and to incentivize manufacturers to move from Crush, Tear, Curl tea to Orthodox tea production. The scheme is implemented by the Finance Department and the Industries & Commerce Department, Government of Assam.