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Government launches special portal for educational loans

August 20, 2015 - Hyderabad


Applying for an education loan now becomes easier with the launching of a unique portal where a student can apply to multiple banks by filling just one form.

It may be recalled that the Union Finance Minister Arun Jaitley in his budget speech announced of the same. The portal has been designed and developed by National Securities Depository Ltd., (NSDL) e-Governance Infrastructure ltd., in collaboration with the department of financial services in the Finance department, department of higher education and the Indian Banks’ Association lobby group.

Students desirous of having a bank loan need to first register on the website and fill up the form online. The website also provides a link to the national scholarship website where students can access student loan schemes being offered by various government departments. The portal offers 22 types of educational loans to the students.

As many as 13 banks including SBI, IDBI, Canara Bank, Union Bank of India, Bank of India, PNB are registered with the portal to offer educational loans. The number of banks will increase in the coming days according to highly placed sources.

Union Finance Ministry in a release said that the portal has been launched on the eve of 69th Independence Day on August 15.

Andhra News

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