Interest free loan for IIT Students

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Ministry of Human Resource Development offered a free interest loan to IIT students. The student of new session will take benefits of this scheme. Those students whose parents income is less than nine lakh, they can take a loan without any interest for five years.

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According to ministry loan will be passed under “VIDHALAKSHMI” scheme. Conditions added to this loan is just like an educational loan. There will be no need of granter. Parents will be co-applicant. After completing of five-year students will have to pay the interest as per current interest rate of an educational loan. Four years of B.Tech and five years of integrated B.Tech courses included under this scheme.

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