Low interest educational loan for backward classes

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Shimla, Jun 5 (UNI) The Himachal Pradesh Backward Classes Finance and Development Corporation Kangra has launched an education loan scheme at a concessional rate of interest of four percent per annum for the students of Backward Classes for pursuing professional courses from recognised colleges.

A government spokesman today said the Corporation would provide loan to the extent of Rs 1.25 lakh per year upto a maximum limit of Rs 5 lakh for four years to the students belonging to the Backward Classes, whose annual family income from all sources is below Rs 55,000 in urban areas and Rs 40,000 in rural areas.

The Corporation also provides interest free study loan of Rs 10,000 per annum with a maximum limit of Rs 50,000 for full term.

This interest free study loan facility would be only for students of Backward Classes whose annual family income is below Rs 36,000, he added.

The application forms for this academic session are available in its Head Office at Kangra and offices of District Welfare, Tehsil Welfare Office, District Managers SC/ST Development Corporation and all the BDOs in the state.


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