Education loan scheme
The objective of the scheme is to extend loans to the members of Other Backward Classes for pursuing Professional/Technical education at graduate and higher level. The loan amount is meant for meeting his/her Admission fee, Tuition fee, Examination Fee, Boarding and lodging expenses, Premium for Life insurance policy, Cost of books, stationery and other instruments required for the course. and Minorities.

MAXIMUM LOAN LIMIT
90% of the expenditure of course subject to maximum of Rs. 50,000/- per year .The maximum loan amount per course is limited to Rs. 2,00,000/- for a period of 5 years. 2nd and subsequent installments will be released only after producing certificate from the principal of the institution regarding the satisfactory performance of the students.

ELIGIBILITY
i) The loan shall be granted to members of other backward classes, or Minority Communitiesas notified by State Government from time to time.
ii) The annual income of the applicant's family should be below Rs.55,000/- in Urban area and below Rs. 40,000/- in Rural area.
iii) Priority will be given to women, physically impaired and dependent of war widows.

Repayment Period
The beneficiary should repay the loan in equated monthly installments over a period of 5 years. The repayments will start after 3 months on employment of the student or on completion of 6 months after the final examination which ever is earlier. In the event of non-disbursement of the loan due to the poor performance of the student in the examinations, corporation reserves the right to fix a repayment schedule as it deems fit for the recovery of the loan amount. .

and 3% (For Minorities)Rate of interest: 4%