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Vocational Education and Training Loan Scheme

Ministry: Ministry Of Social Justice and Empowerment

The Vocational Education and Training Loan Scheme provides financial assistance to youth of the target group to enhance their skills & employability.

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About This Scheme

The scheme "Vocational Education and Training Loan Scheme" implemented by the National Safai Karamcharis Finance and Development Corporation under the Ministry of Social Justice and Empowerment, provides financial assistance to eligible youth of the target group of NSKFDC for pursuing vocational education and training courses. It aims to improve skills, employability, and self-reliance among beneficiaries. Financial support is available for courses run or supported by Government Ministries, Departments, NSDC, or State Skill Missions. The course duration should be from 6 months up to 2 years and may lead to a recognized certificate, diploma, or degree. Assistance is provided for up to 90% of the course expenses, subject to the prescribed loan limit.

Benefits

Quantum of loan

1. Need-based finance to meet up to 90% of expenses shall be considered subject to the following Ceilings:

For courses of duration up to 2 years: up to Rs. 4,00,000/-

> Note: In case of cost over-run, it shall be borne by the beneficiary.

Interest

National Safai Karamcharis Finance & Development Corporation (NSKFDC) shall charge interest @ 1% per annum from the Channelizing Agency, which, in turn, shall charge 4% per annum from the beneficiaries. In the case of women, an interest rebate of 0.5% shall be provided. **

Repayment: Up to 7 years.

Eligibility

Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.

Required Documents

✦
Aadhaar Card
✦
Driving License
✦
Bank Details
✦
Caste Certificate
✦
Income Certificate
✦
Domicile Certificate

✦ Required ◦ Optional

How to Apply

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Quick Info

Level: Central Government