Education Loan Interest Subsidy Portal opens on August 1,
2016 for 2015-16
Ministry of HRD has
advised Canara Bank to open the Interest Subsidy portal from 1st August
2016 to 31st October 2016 for primary claims of Interest Subsidy on
Education Loan for Financial Year 2015-16.
As per guidelines, the Branch Managers have to
identify the eligible student borrowers and submit the claim for interest
subsidy for FY 2015-16 through Canara Bank portal.
In the past, many branch managers did not
claim the subsidy for eligible students.
In view of this,
eligible students may submit a letter to the Branch Managers requesting them to
claim the interest subsidy from the Government for FY 2015-16.
If the Bank does not
submit the claim within the period, the students will not get any
subsidy.
Though it is the
responsibility of the Branch manager to submit the claim, in their own
interest, students are advised to ensure that the branches submit the claim within
the stipulated date.
Students who have
availed education loan under IBA scheme to pursue professional or technical
courses are eligible for interest subsidy during the study period plus one
year, if the parental income is less than Rs. 4.50 lakh per annum.
It is sufficient if
the student submits the income certificate signed by Thasildar or competent
authority only once at the time of availing the loan. They need not
submit the income certificate every year.
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