- To provide loan facility to individuals intending to take up skill development courses.
- Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
- Minimum: 5,000
- Maximum: 150,000
- Courses upto 1 year: 6 months after completion of the course.
- Courses above 1 year: 12 months after completion of the course.
- Parents to be joint borrower(s).
- No collateral.
- Covered under Credit guarantee Fund Scheme for Skill Development (CGFSSD) of National Credit Guarantee Trust Company Ltd.
- Upto 50,000 : 3 years
- Between 50,000 to 1 lakh : 5 years
- Above 1 lakh : 7 years