Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible trainingSkill-development courses at eligible ITIs, polytechnics, NSDC or Sector Skill Council affiliates, state skill bodies, recognized schools or colleges, preferably leading to an NSQF-aligned credential
Source 1Current floating interest rate9.40% p.a., linked to EBREffective 9 Jun 2026
Source 2Published loan range₹5,000 to ₹7.50 lakh
Source 3Security and co-borrowerNo collateral or third-party guarantee; parent or guardian signs as joint borrower, with spouse additionally included where applicable
Source 4Maximum repayment by amountUp to 36 months through ₹50,000; 60 months above ₹50,000 through ₹1 lakh; 84 months above ₹1 lakh
Source 5Processing fee and marginNil processing fee and nil margin
Source 6Benefits and features
- Loan from ₹5,000
- No collateral or third-party guarantee
- Nil margin
- Nil processing fee
- Seven-year maximum tenor
Eligibility
- The applicant must be an Indian national enrolled in an eligible Indian skill course.
- A parent or guardian normally joins the loan documents.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Course admission and expense evidence
- Academic records where applicable
- Co-borrower documents and bank statements