Application Form for Interest Subsidy on Education Loan Sample

In order to promote the level of education among citizens, the Governments of many States introduce attractive interest subsidies on education loans taken by students, who are pursuing higher education but whose family background is not economically strong enough to afford it fully. Therefore, the Government is giving such subsidies either 100% or partly from time to time.

The candidates have to first apply to the appropriate Government authority to get approval under the Interest Subsidy Scheme. Once it is approved, they will be eligible to get their educational loans' interest reimbursed from the Government either after it is fully paid to the bank or along with the payment of interest to bank periodically as per the scheme.

Following formats are specimen copies only. Please consult appropriate authority for getting the prescribed application forms.

APPLICATION FORM FOR APPROVAL OF INTEREST SUBSIDY

APPLICATION FORM

1. Name of the Applicant (in BLOCK letters): ..........................

2. Date of birth: .......................

3. Father's Name: .............................

4. Gender: ........... (Male / Female)

5. Category: ............ (General / SC / ST / OBC/SEBC / Others)

6. Present/Communication Address: .................... Pin .........

7. Permanent Address: .................... Pin ............

8. Telephone Number: Mobile ................. Landline ..............

9. Email id: ...............................................

10. HSC Passing Information: School Name, Address, Board, Roll No., Year, Result % or Grade

11. Details of College/University:

(Year of admission, Name of the College/University, Address, Course name, Duration, Enrollment/registration number, Tuition fee per annum)

12. Annual Income of Parent/Guardian: ............... Occupation: ..............

13. Details of Bank account of the student/parent, as applicable:

(Bank name, Branch name and code, Savings account number, IFSC)

14. Details of Education loan:

(Bank name, Branch name and code, IFSC, Loan account number, Loan amount, Loan start date, Loan tenure, Interest rate, Interest amount yearwise)

15. Has the student received any interest subsidy on the loan? If yes, mention details of the relevant Govt scheme. Interest Amount approved and/or received etc.

16. Declaration and Undertaking

I hereby declare and affirm that the information provided herein-above are true and correct to the best of my knowledge. I further declare and affirm that the documents provided along with this application are valid documents. In the event of suppression or distortion of any information by me, I understand that my application is liable for cancellation. I accept and undertake to abide by all the rules and regulations of this Interest Subsidy Scheme on Education Loan.

Sincerely,

    (Signature)

(Name of the Student)

    (Signature)

(Name of the Parent or Guardian)

Father/Mother/Guardian of the Student

Date: ...............

Place: ..............

Letter to Govt Authority for release of Interest Subsidy after Loan repayment

From

(Name of the Applicant)

(Address, Phone Number)

To

(Name of the Govt Authority)

(Department, Office)

(Address)

Respected Sir/Madam,

I, (Name of the Applicant), aged .... years, son/daughter of ................... had earlier applied for interest subsidy on my educational loan from (Name of the Bank). The said application form dated ........ was approved by the appropriate authority by letter no. ........ dated .............. A copy of the said letter is enclosed herewith for your ready reference.

I had taken an education loan of (Amount) from (Name of the Bank). Loan account number is .............. I have repaid all the installments due on the said loan by the last due date. A bank certificate to this effect is enclosed herewith for your kind perusal. 

Therefore, I kindly request your goodself that the interest subsidy due to me may kindly be released through my account with ........... Bank. Details of the said bank account are as follows:

Account number: ......................

IFSC code: ................................

Name of the bank: .....................

Name and address of the branch office: ..................

Name of the account holder: .......................

I look forward to receiving the subsidy amount at the earliest, as it will release the heavy burden of financial pressure on me.

Thanking you,

Yours sincerely,

    (Signature)

(Name of the Applicant)

Date:  ................

Place: ...............

BANK CERTIFICATE FORMAT

Ref. No.: ...................

This is to certify that the applicant Mr./Ms. (Name of the Person), to whom the interest subsidy under ........... Scheme has been approved, had taken an Education loan from ......... bank on (Date) for an amount of ............. with interest at .....% p.a. amounting to (Total interest amount). He/She has regularly repaid installments on or before the due date.

Following are the details of the educational loan taken by the applicant:

Total Amount due: ...................

Installment per month: (Monthly Principal and Interest amounts)

Payments received: (Principal and Interest received date wise)

Remarks: ..................

It is hereby certified that the applicant who has applied under interest subsidy claim is eligible under the Interest Subsidy Scheme of the Government of .........., we have verified the genuineness of the interest subsidy claim submitted to us.

We endorse the above named applicant student for the Interest Subsidy Scheme on Educational Loan and confirm the same.

    (Signature)

(Name of the Bank official)

(Designation)

(Affix Bank Seal)

Date: ..............

Place: .............