Step by Step Process for Padho Pardesh Scheme on Education Loan

Padho Pardesh scheme was introduced by the Government of India to make overseas education affordable for eligible students. Under this scheme, individuals from the minority community can avail interest subsidy on education loan to study abroad.

An education loan in India is one of the most feasible financial options which can cover diverse expenditures when studying. These include tuition fees, examination charges, admission fees, cost of study material, accommodation, travel costs, food, medical expenses, etc. Bajaj Finserv brings Loan Against Property for Education with additional features for borrowers.

Step-By-Step Guide to Apply for Padho Pardesh Scheme

  • First, you need to avail the study loan from your chosen lender, and then apply for the Padho Pardesh scheme.
  • Submit all the relevant documents to your lender stating that you’re eligible for the interest subsidy scheme.
  • The lending organisation shall submit your personal information as well as education loan details on the scheme’s portal.

What are the Eligibility Parameters to Qualify?

You can enjoy interest subsidy on this Student Loan in India only if you meet the following eligibility criteria:

  1. Candidate should come from the minority community with an annual income below Rs. 6 Lakh.
  2. The student must have got admission in an educational institute overseas at Ph.D., M.Phil. or Master’s degree.
  3. He/she shall pursue any of the mentioned courses to enjoy the Padho Pardesh scheme benefits –
  • Pure Science
  • Humanities or Arts
  • Commerce
  • MBA
  • Farm Power & Machinery
  • Ocean & Atmospheric Sciences
  • Veterinary Science and more.

Note that candidates availing a lower interest rate on education loans for students shall get more preference for this scheme. If you are seeking a higher amount of funding, apply for Bajaj Finserv Education Loan on Property via a simple application process.

Step 1: Open the loan application online and fill up with necessary details.
Step 2: Once submitted, Bajaj Finserv’s representatives shall reach you within 24 hours.
Step 3: Get your loan approval in 48 hours.
Step 4: Provide all the necessary documents to our representatives to complete the application process.
Enjoy fast loan disbursal within 4 days of receive approval with Bajaj Finserv.