Details

The nation owes a lot to its brave Ex-Servicemen. To ensure their families continue to receive support, especially in education, the RMEWF (Raksha Mantri’s Ex-Servicemen Welfare Fund) offers a dedicated financial assistance program.

What Is This Scheme?

This scheme, known as the RMEWF Financial Assistance For Education Of Children & Widows Of Ex-Servicemen, aims to ease the financial burden on families of ex-servicemen. It provides monetary help for the education of their children and for widows looking to pursue higher studies.

Who Can Benefit From This Scheme?

The scheme is designed for children of Ex-Servicemen (ESM) and their widows. It specifically supports up to two children for their education up to graduation level. Additionally, widows themselves can receive assistance to pursue a Post Graduation degree.

Why This Scheme Is Important

Education is a cornerstone for a brighter future. This initiative by the RMEWF recognizes the sacrifices of our ESM and their families. By providing financial aid, it ensures that financial constraints do not hinder the educational aspirations of their children and widows, empowering them for better opportunities.

Objective

This scheme offers financial support to Ex-Servicemen and their widows to help educate their children up to graduation or for widows pursuing a Post Graduation degree.

Benefits

Benefits:

Hassle-Free Process: Individuals can open their accounts at any post office or authorized bank in India.

SCSS Tax Benefits: Under Section 80C of the Income Tax Act, the principal amount invested in this scheme is eligible for deduction up to a limit of ₹1.5 lakhs in a year. Furthermore, interest earned on SCSS is taxable according to an individual’s tax slab. However, if the amount exceeds ₹50,000 for a fiscal, TDS (Tax Deducted at Source) is applicable.

High-Interest Rate: SCSS offers an interest rate of 7.4% per year.

Features:

Varying Interest Rates: The SCSS interest rate is modified once in every 3 months. Therefore, this rate of interest is subject to revision 4 times in a year.

Assured Returns: The returns on this scheme are issued as it is a government-backed instrument. Moreover, contrary to market-linked investments, which are subject to fluctuations, SCSS is safe and offers assured returns to individuals.

Maturity Duration: SCSS comes with a maturity period of 5 years. That said, one can extend the scheme for another 3 years by submitting a duly filled-up Form B. Nonetheless, in this regard, the interest rate as per the quarter is levied.

Deposit Limit: Individuals can deposit a minimum of ₹ 1,000 to open their accounts. Moreover, one can deposit ₹ 15 lakh or the amount of retirement benefit, whichever is lower.

Account Closure: Deductions are made against premature withdrawals. If closed before a period of 2 years, 1.5% deduction will be made as a penalty. Furthermore, if closed after 2 years, 1% is deducted. However, for extended accounts, one can withdraw funds post one year without attracting penalties.

Quarterly Disbursals: One can expect quarterly disbursements against the deposited amount. The interest gets credited to the account on the 1st of April, July, October, and January.

Nomination Option: The account holder can register a nominee to the Senior Citizens Saving Scheme. So, if the account holder passes away before maturity, the nominee will receive the due amount.

Sources and references

Guidelines

Eligibility Criteria

To be considered for this financial assistance, applicants need to meet the following conditions:

You must be an Ex-Serviceman (ESM), a widow, or an orphaned dependent.
The applicant's (ESM or widow's) rank should be Havildar or equivalent in the Navy and Air Force, and below.
This assistance is available for students studying from Class 1 to 12, undergraduate degree courses, and also for widows pursuing a 2-year Post Graduation degree. The student or widow must successfully complete their course.
You must not be currently receiving any education allowance or similar financial benefit from the State government or your employer.
The scheme is applicable for the first two children. However, special conditions apply for twin children:

If the first and second children are twins, both twins will be eligible, as only a maximum of two children can receive aid.
If the second and third children are twins, all three children (the first child and the twins) can be eligible, provided all other criteria are met. This means an ESM might get assistance for three children in this specific scenario.

In the unfortunate event of the death of the first or second child, the subsequent child (third) becomes eligible. For instance, if the first child passes away, the second and third children will be eligible. If the second child passes away, the third child becomes eligible, as recorded in the discharge book. A death certificate will be required as a supporting document when applying online.

How To Apply

To apply for this financial assistance, you need to follow these steps:

Gather all the necessary documents as listed below.
Attest all copies of the required documents from your respective Zila Sainik Welfare Officer (ZSWO).
Submit the application form along with the attested documents.
For verification, you will need to take a hard copy of your filled application form to the Zonal Sainik Board.
The scheme typically opens for applications at specific times: May for non-board classes, July for 10th & 12th board classes, and August for undergraduate courses.

Note: For the most current application portal or address, please refer to the official RMEWF website or contact your nearest Zila Sainik Welfare Office (ZSWO).

Documents Required

Please ensure you have the following documents, duly attested by the respective Zila Sainik Welfare Officer (ZSWO), to submit with your application:

Service Document/Discharge Book: A copy of the pages showing ESM/Personal Particulars, Service Particulars, and Family Particulars.
ESM or Widow I-Card: Issued by your respective Zila Sainik Board (ZSB).
Mark-sheet / School Progress Card: For the child(ren) you are applying for.
Part –II Order or Discharge Book Entry: This should mention the names of the child(ren) for whom the grant is being sought, or a proper entry to this effect in the Discharge Book/Documents.
Declaration Certificate: A certificate from the applicant stating that they have not received any education allowance or scholarship from the State government or their present employer.
Bank Account Details: Account Number and IFS Code. Note that accounts must be in either Punjab National Bank (PNB) or State Bank of India (SBI) only.
Aadhaar Card: A copy of the applicant's Aadhaar Card.

FAQ’s

Can I Apply If I'm Already Receiving Another Scholarship?

No, you can only apply for this scheme if you haven't received any money or grant in the form of education allowance or scholarship from the state government or your current employer.

What If I Need To Renew My Scholarship For The Next Academic Year?

To renew your scholarship for a subsequent year, you need to follow the exact same application process as you did when you first applied.

Is This Scheme For Tuition Fee Reimbursement?

No, this scheme is specifically for financial assistance and not for tuition fee reimbursement.

Which Banks Are Acceptable For Receiving The Aid?

You must provide bank account details only from either the State Bank of India (SBI) or Punjab National Bank (PNB). Accounts from other banks will not be accepted.

When Should I Submit My Application For The Scheme?

Applications are generally accepted in specific months: May for non-board classes, July for 10th and 12th board exams, and August for undergraduate course students.

Can A Daughter Studying In College Apply For Assistance Under This Scheme?

Yes, a daughter studying in college can apply. However, if either of her parents is alive, they must submit the application on her behalf.

Do I Need To Submit A Physical Copy Of My Application?

Yes, you are required to bring a hard copy of your completed application form for verification when you visit the Zonal Sainik Board.

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