Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana – In this article, we will tell you about Odisha Kalinga Sikhya Sathi Yojana (KSSY) education loan online application form 2022 at vidyalakshmi.co.in, how to make registration / login at vidya lakshmi portal, check list of banks to apply offline, required documents, CSIS vs KSSY comparison, moratorium period, objectives, benefits, latest updates.
What is Odisha Kalinga Sikhya Sathi Yojana 2022
Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana -The Odisha Government has come up with a new scheme named as Kalinga Sikhya Sathi Yojana (KSSY) for the aspiring students at only 1% interest. It has been launched by Hon’ble CM of Odisha, Shri Naveen Patnaik on 27th June 2016. This scheme has been launched to bring down the financial burden on the parents of the students who want to move forward with higher education.
Details about the scheme Kalinga Sikhya Sathi Yojana
Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana -A student can avail loan under the scheme “Kalinga Sikya Sathi Yojana” from scheduled banks for pursuing higher studies. The scheme will give them up to 10 lakh rupees to proceed for the higher courses.
- Maximum Loan: According to the rules of the scheme, a student can get maximum of 10 lakh rupees as an educational loan under this scheme.
- Minimum Loan: There is no minimum loan amount mentioned in the scheme. One can get any amount of loan up to Rs. 10 lakh.
- Period of Loan: The period of repayment will be up to 10 years and 15 years in respect of loan sanctioned up to 7.5 lakhs and 10.00 lakhs respectively.
- Rate of Interest: The applicants will have to pay only 1% interest on the loan amount. The balance amount of the interest will be borne by Government of Odisha, Higher Education Department.
Eligibility Criteria for Odisha Kalinga Sikhya Sathi Yojana
- The student must be a resident of Odisha.
- As per the eligibility criteria, the annual income of the family of the applicant up to 6 lakhs per annum. The terms are conditions of loan will be as per norms of individual schedule banks. The loan applications will be processed by the rules of the banks. The poor students who are willing to continue higher studies can apply for the loan under this scheme.
List of Documents Required to Get Education Loan under KSSY
- All Educational Certificates, including the document indicating admission into a technical / professional course
- Residential Certificate issued not only the below rank of Tahasildar and Additional Tahasildar.
- Income Certificate issued not only the below rank of Tahasildar and Additional Tahasildar or Self certified copy of IT return
Moratorium Period of Loans in KSSY Scheme
Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana -Generally, the moratorium period of education loans is course period plus one year depending on the banks. But under KSSY, the financial assistance in the form of interest subvention shall be provided for the period of repayments including moratorium period after the completion of course. This will prove to be very beneficial to students.
Benefits of Odisha Kalinga Sikhya Sathi Yojana
Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana -If you are a student of any professional course and have availed benefit of education loan from any Bank after 01-April-2016, please note that you are entitled to get the loan to be converted to “Kalinga Sikhya Sathi Yojana”.
The advantages will be:
- You can get the interest rate that will apply after the moratorium period reduced to 1%.
- Your interest repayment terms will accordingly change so that the total repayment period of the loan will reduce, after completion of your course.
You are therefore advised to avail these benefits, by contacting the concerned Branch Manager immediately.
Application Forms of Kalinga Sikhya Sathi Yojana (KSSY)
Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana -Interested and eligible students can apply for Sikhya Sathi Yojana through both offline and online modes to get education loan. The offline applications can be made by visiting any of the following bank branches.
List of Banks for Offline KSSY Education Loan
|Bank of Baroda|
|Bank of India|
|Bank of Maharastra|
|Bharatiya Mahila Bank|
|Central Bank of India|
|India Overseas Bank|
|Oriental Bank of Commerce|
|Punjab & Sind Bank|
|Punjab National Bank|
|State Bank of Bikaner & Jaipur|
|State Bank of Hyderabad|
|State Bank of India|
|State bank of Mysore|
|State Bank of Travancore|
|Union Bank of India|
|United Bank of India|
|Axis Bank Ltd|
|City Union Bank|
|Indus Ind Bank|
|Karur vysya Bank|
|Kotak Mahindra Bank|
|laxmi Vilas Bank|
|Standard Chartered Bank|
|the South Indian Bank Ltd|
|Orissa State Co-op. Bank|
KSSY Offline Apply Banks List
Check KSSY Banks List – https://dhe.odisha.gov.in/sites/default/files/2021-10/banklist.pdf
KSSY Grievance Box
Study Loan Apply Odisha Kalinga Sikhya Sathi Yojana -If you have been admitted in any professional course and also contacted bank personnel regarding loan, but still you have doubts / grievance then submit your grievance in the Grievance Box – https://dhe.odisha.gov.in/feedback-KSSY
Check Frequently Asked Questions at https://dhe.odisha.gov.in/sites/default/files/2021-10/FAQ_KSSY_Revd.pdf
CSIS vs KSSY – https://dhe.odisha.gov.in/schemes-and-scholarship/online-application-module-for-scholarship-and-loan/kalinga-sikhya-sathi-yojna/csis-kssy