Get Education Loan without Collateral Security, in MP

Many meritorious students are unable to resume their studies due to financial problems. Government of Madhya Pradesh has come up with a scheme as per the instructions from Reserve Bank of India. The key features of the scheme are listed as follows:

Objective:

The Scheme is launched for the support of intelligent students of economically weak sections to continue their higher studies without any problems.

Eligibility:

• The family income is less than Rs 3 Lakh per annum.
• The family does not have sufficient assets to be submitted as collateral security.

Benefits:

• Loan of up to 4 lakh rupees without any collateral security.

The amount will be paid to the student every semester on the basis of result in previous semester.The loan can be terminated due to in-appropriate performance in the previous semester.

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