CGFSEL Education Loan Scheme
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About The Program
CGFSEL Education Loan Scheme is an initiative by the National Credit Guarantee Trustee Company Ltd. (NCGTC) set-up by the Department of Financial Services, Ministry of Finance, Government of India. This scheme provides educational loans of up to ₹7,50,000 to help students pursue higher education in India and abroad, even if they do not have the necessary collateral or third-party guarantee for their loan. The maximum interest rate that can be charged on education loans under the CGFSEL scheme is 2% over the base rate*.
*Base rate is the minimum interest rate that a bank can charge on loans. It is set by the RBI and the lending institution declares the base rate from time to time based on RBI's guidelines. The interest rate applicable for the education loan will be determined based on this base rate.
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