शिक्षा ऋण क्रेडिट गारंटी फंड योजना (सीजीएफएसईएल)
National credit guarantee scheme managed by NCGTC guaranteeing 75% of default risk for collateral-free education loans up to ₹7.5 Lakh.
📋पात्रता मानदंड एवं मार्जिन मनी (Eligibility & Margin Rules)
पात्रता की शर्तें
Indian national enrolled in recognized higher education courses in India or abroad, applying for education loan up to ₹7.50 Lakh under IBA model scheme.
मार्जिन मनी आवश्यकता
Nil up to ₹4 Lakh; 5% for domestic studies; 15% for overseas studies.
जमानत / कोलेटरल आवश्यकता (Collateral Requirement)
ZERO collateral and ZERO third-party guarantee. NCGTC provides 75% credit guarantee to the bank in case of NPA default.
विशेष सरकारी ब्याज सब्सिडी (CSIS / सरकारी लाभ)
Banks are prohibited from demanding third-party guarantee or tangible collateral for loans up to ₹7.5 Lakh covered under CGFSEL.
📂खर्चे एवं आवश्यक दस्तावेज (Expenses Covered & Documents)
कवर किए जाने वाले शैक्षणिक खर्चे
Tuition, hostel, books, computer, and reasonable course expenses under IBA model scheme.
आवेदन हेतु आवश्यक दस्तावेज
Standard IBA education loan application, KYC, entrance scorecard, admission letter, fee structure, parent income proof.
⚠️क्या कमी है / महत्वपूर्ण चेतावनियां (Honest Disclosures & Caveats)
Parent joint co-borrowership is mandatory; guarantee fee of 0.50% is absorbed or passed to the borrower depending on bank policy; credit guarantee protects the bank against default, but the borrower remains legally liable for recovery.
🚀आवेदन प्रक्रिया (Official Application Process)
1. Apply for loan up to ₹7.5 Lakh at any member lending bank. 2. Bank automatically registers the sanction under CGFSEL portfolio with NCGTC. 3. Bank cannot ask for collateral or third-party guarantee. 4. Disbursed directly to educational institution.
❓अक्सर पूछे जाने वाले प्रश्न (FAQs)
Can a bank demand property collateral for an education loan of ₹7 Lakh?
No. Under RBI and IBA guidelines backed by CGFSEL, banks are strictly prohibited from demanding any tangible collateral or third-party guarantee for education loans up to ₹7.50 Lakh.
Does CGFSEL mean the student does not have to repay if they cannot find a job?
No. CGFSEL guarantees the bank against loss, but the borrower and co-borrower remain legally obligated to repay. A default will damage the credit score of both the student and the parent.
Who pays the CGFSEL guarantee fee?
The annual guarantee fee of 0.50% of the outstanding loan is paid to NCGTC by the lending bank or shared as per the bank's retail credit policy.