What is the subsidy amount for education loan?
Subsidy for loan amount up to Rs. 7.50 Lakhs (even if loan is more than Rs. 7.50 Lakhs). Student to submit proof of income from the competent authority appointed by the state government.
Who is eligible for interest subsidy?
The scheme provides full interest subsidy during the moratorium period on modern education loans without any collateral security and third-party guarantee, for pursuing technical/professional courses in India. Students whose annual gross parental/ family income is up to Rs. 4.5 lakhs are eligible under the scheme.
How does subsidy work in home loan?
Subsidy can be availed on home loans that were approved on or after 1 January 2017. Applicants who fall under MIG ” I category can avail subsidy at the rate of 4% with the maximum loan amount being Rs. 9 lakh. The maximum loan term taken into consideration for calculation of subsidy is 20 years.
What is interest rate subsidy?
Interest subsidy is the benefit given by the government to the enterprises on the term loans who pays regular installments and interests to the state financial institutionsfinancial institutionbank recognized by Reserve Bank of India.
How do I claim my education loan subsidy?
Copy of the Aadhar Card. Income certificate issued by the Income Certifying Authority. Proof of the Education loan taken. The most recent ITR filed.
What is education subsidy?
Education Loan Subsidy schemes are modes of financial assistance which help students to repay their education loan with ease. Student loan applicants can avail these subsidies in the form of interest rate subsidies, loan forgiveness or rebate on education loan repayment.
What is the maximum government subsidy?
The correct answer is Rs, 1,00,000.
Is PMAY subsidy still available?
In December last year, the cabinet had approved the extension of the rural component of the housing scheme, known as PMAY-Gramin beyond March 2021 till March 2024.
How is PMAY subsidy calculated?
How is PMAY subsidy calculated? The subsidy amount is taken as the Net Present Value (NPV) of the interest subsidy amount. NPV is calculated at a discount rate of 9%.
How do I check my housing subsidy?
Call 0800 146 873. Email [email protected]. Perform a housing database check for Gauteng or other parts of the country from the HSS online subsidy portal. Visit your nearest Housing Provincial office with your Form C.