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Pradhan Mantri Kaushal Rin Yojna (Skill Loan Scheme)


    Skill Loan Scheme (herein after called ‘Skilling Loan’) aims at providing a loan facility to individuals who intend to take up skill development courses as per the Skilling Loan Eligibility Criteria.


    1. Training Institutes : Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan. The Government of India / State Governments may, from time to time, notify institutes/organizations for the purpose.

    2. Training Courses : Courses run by above mentioned Training Institutes (in 2.1) aligned to National Skill Qualification Framework (NSQF) shall be covered by the Skill Loan. There is no minimum course duration.

    3. Nationality :The applicant should be an Indian National

    4. Minimum Age :There is no specific restriction with regard to the age of the student to be eligible for skilling loan. However, if the student is a minor, while the parent executes documents for the loan, the bank will obtain a letter of acceptance/ratification from him / her upon attaining majority

    5. Minimum Qualification : As required by the enrolling institutions/organizations as per NSQF.


    Loans will be in the range of Rs. 5,000/- to Rs. 150,000/-.


    Tuition / course fee, any other reasonable expenditure found necessary for completion of the course including but not limited to assessment fee, Examination fee, Library charges, Laboratory fee, Caution deposit, Purchase of books, equipment’s and instruments
  5. MARGIN :



    1.50% over Base Rate presently 11.45 % p.a. (Floating Rate at monthly rests)




    No collateral or third party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower.


    Upon completion of the course, repayment will start after a moratorium period as indicated below:

    Courses of duration upto 1 year

    upto 6 months from the completion of the course

    Courses of duration above 1 year

    12 months from the completion of the course


    The loan will be repaid after moratorium period in Equated Monthly Installments (EMI’s) as follows :

    Loans up to Rs. 50,000/-

    Up to 3 years

    Loans between Rs. 50,000/- to Rs. 1.00 lakh

    Upto 5 years

    Loans above Rs. 1.00 lakh

    Upto 7 years


    Optional at the requirement of the borrower.

For further information, you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.
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