Central Scheme to Provide Interest Subsidy (CSIS) On Educational Loans

By Pradeep Yuvaraj | September 19, 2011

Andhra Pragathi Grameena Bank came into existence from 1.06.06 by amalgamating Rayalaseema Grameena Bank, Sri Anantha Grameena Bank and Pinakini Grameena Bank consequent upon the Government of India Notification dt.1.6.06. The Bank is constituted under Regional Rural Banks Act 1976. The Bank is having its Head Office at KADAPA with a jurisdiction of 5 districts namely Kadapa, Kurnool, Ananthapur, Nellore and Prakasam.

It offers special loan schemes to farmers. Its credit basket includes agricultural loans, loans to farmers, produce loans, priority sector loans, non- priority loans, education loan, home loan, personal loans etc.

Purpose: To Provide Interest Subsidy (CSIS) On   Educational Loans Taken By Students from Economically Weaker Sections (EWS)
Eligibility: The scheme would be applicable only for studies recognized Technical / Professional courses in India. The benefits of the scheme would be applicable to those students belonging to EWS with an annual gross parental / family income upper limit of Rs.4.50 lakh per year

Repayment: The interest payable by the student belonging to EWS  for availing Educational loans for the period of moratorium i.e., course period plus one year or six months after getting Job whichever is earlier

Others: The scheme shall be implemented through Canara Bank, which is the Nodal Bank for the scheme.  However, the student can apply under the scheme only through branch where education loan is availed.

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Pradeep Yuvaraj

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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