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Padho Pardesh Yojana Apply Online, Guidelines, Padho Pardesh Scheme Eligibility, Online Application Form
We all know how difficult it has become to get higher education in today’s time. Because the fees of big colleges are also very high for getting higher education. Due to which students are unable to pursue education. Many students of the country are interested in studying abroad but due to weak economic condition they are unable to study abroad. Due to which they are not able to get education abroad and their dream remains unfulfilled. For all the students who want to study abroad, A scheme has been launched by the Central Government for all those students ” Padho Pardesh Yojana”. Under this scheme, interest-free loans will be provided by the central government to poor and middle class people for foreign studies. If you also want to get the benefit of this scheme. So you have to read this article carefully, because we will provide you all the information related to Padho Pardesh Yojana through this article.
History behind this Scheme:
In the year 2013-14, the Padho Pardesh scheme was started by the then cabinet minister Mr. Mukhtar Abbas Naqvi. Under this scheme, the government will give interest-free loans to all those students who want to pursue higher education abroad. Financial assistance will be provided by the Central Government to all those minority and economically weaker section students of the country. Apart from this, subsidy on loans will also be given by the government to all the students. Padho Pardesh Yojana is being operated through the Ministry of Minor Affairs. Through this scheme, the dream of poor students coming under the minority category who dream of getting higher education abroad will be fulfilled. This scheme has been developed for the people of every religion and caste.
Objective of the Scheme:
The main objective of starting the Padho Pardesh scheme by the central government is to provide financial assistance to the minority and economically weaker section students for pursuing higher education abroad. Under this scheme, students will be provided loan by the government for pursuing higher education abroad and subsidy will also be given on the loan. Under this scheme, a loan of up to Rs 20 lakh will be made available to the students by the government. So that they can make their future bright by getting higher education abroad. And we will be able to fulfill our dream of studying abroad.
Highlights of the Program:
- Scheme Name: Padho Pardesh Loan Scheme
- Scheme started in the year: 2013-14
- Scheme launched by: The central government
- Concerned Department: Ministry of Minority Affairs GoI
Eligibility for Padho Pardesh Scheme:
- Only Indian students will get the benefit of Padho Pardesh scheme.
- The poor and needy students coming under the minority category will get the benefit of this scheme.
- Students will get loan under this scheme only for getting education from recognized educational institution.
- If the applicant is getting education from abroad under this scheme, then it is necessary for the institution to be recognized.
- The applicant should be a student of any higher education i.e. Phil, Phd, MBA, PG Diploma under this scheme.
- The annual income of the student’s family should be 6 lakhs or less.
- Students of all caste religion or gender can apply under this scheme.
- Only banks nominated by the Central Government will get the benefit of taking loans under this scheme.
- Minority students of the country will be able to avail loan subsidy only up to Rs.20 lakh.
Documents required for Padho Pardesh Yojana:
- Aadhar Card
- loan application form
- income certificate
- minority certificate
- Papers related to admission and course
- bank account details
- passport size photo
Rules of Loan under Padho Pardesh Scheme:
- All such eligible students who want to pursue their higher education abroad can take loans up to Rs 20 lakh only through banks under this scheme.
- Eligible beneficiaries will be allowed to repay the loan in a time period of up to 1 year and 6 months after the completion of the course.
- After this period given to the students, it will be mandatory to repay the bank loan.
- Under this scheme, no first installment or any interest will have to be paid before taking the degree.
Accredited Banks for getting Loans under Padho Pardesh Yojana:
- Indian Banks Association (IBA)
- Co-operative Bank
- Private Bank
- Public Sector Bank etc. which are affiliated to the Indian Banks Association
Benefits of Padho Pardesh Yojana:
- Students can get many types of benefits under Padho Pardesh Yojana.
- Under this scheme, the government will provide loan without interest to the student for pursuing higher education.
- Under the Padho Pardesh scheme, any minority applicant can take a loan of up to 20 lakhs from Vidyarthi Bank.
- If half of the student’s education is completed in the country and the rest is abroad, then in such a situation no interest will be charged on the loan amount.
- On this aid amount, the student will be given 100 percent subsidy by the government.
- Students will be able to make their future bright by getting loans through the Padho Pardesh scheme.
How to Apply?
- Step 1. First of all, you will have to go to any government bank and get the application form of Padho Pardesh scheme by taking the allotment letter of the foreign college where you want to go for studies.
- Step 2. After receiving the application form, you have to carefully enter all the requested information in that form.
- Step 3. After that again you have to attach all the required documents asked with the application form.
- Step 4. Now you have to submit this application form in the bank itself.
- Step 5. Your form will be sent by the bank to the Ministry of Welfare.
- Step 6. Where your eligibility will be decided whether you are eligible for this scheme or not.
- Step 7. After this you will be provided loan under this scheme.
