Student Instant Education Loan: The promising students who are financially weak will be able to fulfill their dreams and have become an easy means for them and the process has been ordered to expedite the process for giving education loans to all PSU banks through the Finance Ministry. The delay in the distribution of loan is being delayed. The government has previously expressed concern in this regard, all of you have been connected through PSU Bank Vidyalakshmi Portal.
The financially weaker sections of the economically weaker sections have received a lot of big news through the Ministry of Finance for them. Under the Public Center through the Finance Ministry, the bank has been instructed to speed up education loans. Through the ministry, banks have been asked to create a centralized credit processing system. Earlier, the government is worried about the delay in loan distribution, after the government’s instructions, banks are connecting with Vidyalakshmi portal very fast.
Student loan will be available in just 15 days
Following the instructions of the Finance Ministry, the process of AAP Bank Education Loan is rising significantly and the government has directed the PSB to complete the education loan process in 15 days. For which students will have to wait a month and do it. According to the instructions of the Ministry, if the loan is rejected or back due to any reason, then the senior officers will now be able to apply it.
Decline in loan is given
Talking about the last two financial years, the application of education loan has seen a decline of 14.5%. While the allocation as a loan has decreased by 13%. In the financial year 2022-23, an application for education loan was applied by 736580 students and Rs 28699 crore was distributed as a loan. At the same time, the financial year 2023-24 it has come down to 629594. This year 24997 crore rupees has been given under education loan.
Interest rate is such percentage on education loan
Private and public sector banks across the country teach up to 716%. While rural banks are 8.50 to 13.7%, where there is a education loan of 50 rupees on studying in your country, then it is given up to one crore rupees for a course abroad, this loan is given for professional diploma and its based course which you can pay in 15 years of voice, besides 8 years of income tax, in addition to 80 years, there are 8 years of income tax. Security is necessary and the memetorium period of education loan lasts from 6 months to 1 year after the course is completed.
Easy process by Vidya Lakshmi Portal
Vidyalakshmi portal is a single window portal through the government which is making the process of education loan quite easy and transparent and on this students will be able to know and compare and apply for many banks’ education loans. The Dippers of Financial Services and Dippers of Fire Education and Indian Bank have prepared in this regard and NSDL village operates it.
