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Eligibility Criteria:

Citizenship: Applicants must be Indian citizens.

Admission Requirements:

Candidates must have secured admission to a higher education course at a recognized institution in India or abroad.
Admission must be based on an entrance test or a merit-based selection process after completing Class 12 or an equivalent qualification.
If no entrance test or merit-based selection process exists, admission will be based on qualifying examination marks.

Academic Performance:

The student must have obtained a minimum of 50% marks in the qualifying examination.
For candidates belonging to the Scheduled Caste (SC) or Scheduled Tribe (ST) categories, there is a 10% relaxation in the minimum qualifying marks.

Benefits:

Loan Amount:

The maximum loan amount is ?200 lakh.
No margin money is required for loans up to ?4 lakh.
For loans exceeding ?4 lakh, a margin of 5% is applicable for studies within India, and 15% for studies abroad.

Interest Concession:

Banks may offer a 1% interest concession if the interest is serviced during the study period and the subsequent moratorium period before repayment commences.
Interest is calculated on a simple basis during the repayment holiday or moratorium period and compounded monthly from the due date of the first instalment.

Disbursement:

Payments will be made directly to the college, hostel, mess, airline, or other relevant entities.
In specific cases, disbursements can be made to the borrower upon providing satisfactory proof. Original receipts must be submitted.

Loan Guarantee:

Loans up to ?4,00,000 are mandatorily covered under the NCGTC Guarantee Scheme.
For loans above ?4,00,000 but not exceeding ?7,50,000, additional terms may apply.
Loans exceeding ?7,50,000 require a parent or guardian as a joint borrower, and tangible collateral security equivalent to the loan amount is mandatory.

Repayment Period:

The maximum repayment period is 15 years following the moratorium period, which equals the course duration plus 1 year.

Insurance:

A comprehensive life insurance policy equal to the loan amount must be obtained by the student availing of the Educational Loan.
The policy must have a minimum term covering the course period, moratorium period, and repayment period, and it must be assigned in favor of the bank.

Covered Expenses:

College/school/hostel fees.

Examination, library, and laboratory fees.

Travel expenses/passage for studies abroad.

Student/borrower insurance premium (if applicable).

Caution deposit, building fund, or refundable deposit (supported by institution bills/receipts).

Purchase of books, equipment, instruments, and uniforms.

Purchase of a computer at a reasonable cost (if required for course completion).

Other expenses for course completion (e.g., study tours, project work, thesis).

Required Documents:

For Salaried Individuals:

Income Tax Returns (ITR) for the previous two financial years.
Form-16 from the employer, detailing salary, deductions, and taxes paid.
Salary slips from the past three months.
Bank statements for the last six months, reflecting income credits and other financial transactions.

For Non-salaried Individuals:

Income Tax Returns (ITR) for the previous two financial years.
Audited Balance Sheet, certified by a chartered accountant.
Bank statements for the previous year.

Other Required Documents:

Admission Proof: A copy of the admission letter or offer letter from the educational institution.
Certificates of Class 10 and 12.
Fee Structure: Document stating the detailed fee structure of the course.
Receipts of Payments Made: Evidence of payments made towards admission fees, tuition fees, etc.
Entrance Exam Scores (if applicable): Scores or rank obtained in the entrance exam.

Application Process:

Step 1: Click on the ‘Apply Now’ button on the official portal.

Step 2: Register by filling in the required details. If already registered, log in using your registered email ID.

Step 3: Navigate to the 'Apply Now' button on the dashboard.

Step 4: Fill in the required details and submit to create an account.

Step 5: After submitting the details, click the ‘Student Login’ tab, enter the registered email ID, password, and captcha code.

Step 6: Fill out the application form, including name, email ID, phone number, and other important documents.

Step 7: After submitting, download the application form for future reference.

Special Scholarship Scheme Ishan Uday for NER 2020

April 25, 2026

Eligibility Criteria:

Benefits:

Covered Expenses:

Required Documents:

Application Process:

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