Central Scheme of Interest Subsidy for Educational Loans ( CSIS
1. 2. One of the major concerns of the Government is to ensure that nobody is denied professional education because he or she is poor. IBA approved comprehensive model educational loan scheme aimed at providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad. CSIS is a Central Scheme to provide Interest subsidy during the moratorium period for the educational Loans taken by students from Economically Weaker Sections to pursue Technical / Professional Educational Studies in India.
Eligibility: • Only for Educational Loans availed from Scheduled Banks for pursuing any of the approved courses after Class XII in Technical and Professional streams from recognized institutes in India under the Educational Loan Scheme of IBA. Students belonging to Economically Weaker Sections with annual gross parental/family income from all sources with an upper limit of Rs.4.50 lacs. Certificate to this effect issued by authorized officers of State Government is to be submitted. Full interest subsidy is available during the moratorium period i.e Course Period plus 1 year or 6 months after getting the job, whichever is earlier. The Scheme is effective from the academic year 2009-10 starting from 1st April 2009. For loans sanctioned prior to 01.04.2009, only interest on the amount disbursed after 01.04.2009 are eligible. Eligible students have to contact our branches where they have availed/ further availing loans for further details. Corporation Bank Head Office, Development of Priority and RRB Division, Mangaladevi Temple Road, Pandeshwar, MANGALORE – 575 001. Email : email@example.com