CSIS Eligibility Criteria for Education Loan

  • Exclusively applicable to Education Loans obtained from scheduled banks for pursuing approved courses in technical and professional streams from recognised institutes in India, under the Education Loan Scheme of IBA.

  • Students hailing from Economically Weaker Sections with an annual gross parental/family income from all sources, capped at ₹4.50 lakh, are eligible. A certificate verifying this income threshold, issued by authorised officers of the state government, must be submitted.

  • This scheme applies to loans availed from 1st April 2009 onwards. For loans sanctioned before 1st April 2009, only amounts disbursed after this date are eligible.

  • The current schedule permits subsidy claims for the moratorium period from 1st April 2022 to 31st March 2023.

Note: The interest on loan is waived off during the moratorium period.

 

The loan is subsidised by the Government of India, and was launched by the Department of Education, Ministry of Human Resource Development, to support students from economically weaker sections.

 

Click here to read more about the Central Government Interest Subsidy Scheme 

 

Click here for Terms and Conditions

 

Disclaimer: Terms and conditions apply. CSIS Subsidy approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.

Frequently Asked Question

Only students enrolled in professional/technical courses offered by NAAC-accredited institutions, or those accredited by NBA, or Institutions of National Importance, or Central Funded Technical Institutions (CFTIs) are eligible.

Eligibility extends to students from Economically Weaker Sections whose total annual gross parental/family income from all sources does not exceed ₹4.50 lakh.

Students who do not belong to the Economically Weaker Section (EWS) are not eligible for CSIS subsidy.

Only education loans taken from Scheduled Banks under the Indian Banks' Association (IBA) Education Loan Scheme are eligible. You must pursue approved technical or professional courses in India after Class XII from recognised institutes to qualify for interest subsidy under the CSIS Scheme.

To be eligible under the CSIS Scheme, your parental or family income from all sources must not exceed ₹4.5 lakh annually. You must also provide an income certificate issued by authorised State Government officers to prove your economically weaker section status.

Loans sanctioned prior to April 1, 2009, are not fully eligible under the CSIS Scheme. However, if you received disbursements from such loans after April 1, 2009, only those post-April 2009 disbursed amounts qualify for interest subsidy benefits.

The current CSIS schedule allows subsidy claims for the moratorium period from April 1, 2023, to March 31, 2024. You must ensure that your interest subsidy request pertains strictly to this timeframe to be considered under the ongoing subsidy schedule.

If your loan was sanctioned on or after April 1, 2022 and exceeds ₹10,00,000, the interest subsidy under the CSIS Scheme applies only on the interest portion up to ₹10 lakh. Any interest on the loan amount beyond ₹10 lakh will not be subsidised.