Vocational Education and Training Loan Scheme
Youth from NSKFDC target groups (primarily Safai Karamcharis and their dependants) can access low-interest loans up to ₹4 lakh for government-recognized vocational skill courses lasting 6 months to 2 years. The interest rate is just 4% per annum (3.5% for women), with repayment spread over up to 7 years. Apply through the NSKFDC website at nskfdc.nic.in.
About This Scheme
Youth from NSKFDC target groups (primarily Safai Karamcharis and their dependants) can access low-interest loans up to ₹4 lakh for government-recognized vocational skill courses lasting 6 months to 2 years. The interest rate is just 4% per annum (3.5% for women), with repayment spread over up to 7 years. Apply through the NSKFDC website at nskfdc.nic.in.
Full official description
The Vocational Education and Training Loan Scheme provides financial assistance to the youth of the target group to enhance their skills and employability.
Expenses to be Considered for Vocational Education and Training Course
- Admission/Tuition fee
- Examination, Library, and Laboratory Fee
- Caution Deposit
- Purchase of Books, Equipment, and Instruments
- Boarding and Lodging
- Insurance for loan amount
- Any other reasonable expenses found necessary for the completion of the course certified by the vocational education and training institute.
Benefits
- Loan covers up to 90% of course-related expenses, up to ₹4,00,000 for courses lasting up to 2 years
- Eligible expenses: tuition, exam fees, library/lab fees, books, equipment, boarding and lodging, and insurance
- Interest rate: 4% per annum (3.5% for women — 0.5% rebate)
- Repayment period: up to 7 years after course completion
Who Can Apply (Eligibility)
- Must belong to NSKFDC's target group (primarily Safai Karamcharis and their dependants)
- Must be enrolled in a vocational course of 6 months to 2 years duration
- Course must be run or supported by a government ministry, NSDC, or State Skill Mission/Corporation
- Course should lead to a certificate, diploma, or degree from a government-recognized body
- Age: minimum 18 years at course completion, maximum 50 years
How to Apply
Step 1: Visit the official website.
Step 2: Click on How to Apply. Tap on the Loan application form.
Step 3: Click on Loan application form.
Step 4: Fill in all the details and tap Save to save the application form.
Frequently Asked Questions
What is the age criteria to apply?
The candidate should attain a minimum age of 18 years upon completion of the course. The upper age limit is up to 50 years.
What are the expenses to be considered for Vocational Education and Training Course?
Admission/Tution fee Examination, Library, Laboratory Fee Caution Deposit Purchase of Books, Equipments, Instruments Boarding & Lodging Insurance for loan amount Any other reasonable expenses found necessary for the completion of the course certified by the vocational education & training institute.
In how much time will the loan have to be repaid?
The loan will have to be repaid for up to 7 years.
What is rate of interest of the loan?
NSKFDC shall charge interest at 1% per annum from the channeling 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.
What is the course eligiblity?
Vocational Education & Training courses of duration of minimum 6 months and upto 2 years run or supported by Ministry/Department/Organization of the Government or a Company/Society/Organization supported by a National Skill Development Corporation or State Skills/Mission/State Skill Corporations.
What is the eligiblity criteria?
The person should be from the target group of NSKFDC. The person should have secured admission in a course run or supported by a Ministry/Deptt./Organization of the Government or a Company/Society/Organization supported by National Skill Development Corporation or State Skill Missions/State Skill Corporations, preferably leading to a Certificate/Diploma/Degree etc. Issued by a Government Organization or an Organization recognized/authorized by the Government to do so.
Ready to apply?
Visit the official government portal to apply for this scheme.
Apply on myScheme.gov.inDocuments Required
- Aadhaar Card
- Driving License
- Bank Details
- Caste Certificate
- Income Certificate
- Domicile Certificate