|Purpose||The scheme aims at providing financial support to students for pursuing employment oriented skill development courses with affordable terms and conditions.|
|Eligible Persons||Nationality: The applicant should be an Indian National
Minimum Age: There is no specific restriction with regard to the age of the student to be eligible for Oriental Skill Loan.
Minimum Qualification: As required by the enrolling institutions/organizations as per NSQF (National Skill Qualification Framework).
|Eligible Institutes/Eligible courses||Training Institutes: 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 Oriental Skill Loan.
4.2Training Courses: Courses run by above mentioned Training Institutes aligned to National Skill Qualification Framework (NSQF) shall be covered by the Oriental Skill Loan Scheme. There is no minimum course duration.
|Components of Finance||
|Loan Amount||Loans will be in the range of ₹ 5,000/- to ₹ 150,000/-.|
|Rate of Interest||One Year MCLR + 1.50% floating with Monthly rest|
|Moratorium Period||Upon completion of course, repayment will start after the moratorium period as under: