Dr. Ambedkar Central Sector Scheme of Interest Subsidy
डॉ. अम्बेडकर केंद्रीय क्षेत्र ब्याज सब्सिडी योजना (ओबीसी/ईबीसी विदेश अध्ययन)
Central interest subsidy scheme providing 100% interest relief during study for OBC/EBC students pursuing higher degrees abroad.
Max Loan Amount
Up to ₹20 Lakh (100% Interest Subsidy on Overseas Loans for OBC/EBC)
Interest Rate
0.00% during moratorium (100% Central Govt Subsidy)
Moratorium Period
Course duration + 1 year
Repayment Tenure
Up to 15 years
✦ What the Loan Covers (Eligible Expenses)
Tuition fees, living expenses, books, study material, overseas health insurance, airfare.
What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Costs
Eligo disclosure: Bank loan brochures and DSA agents rarely highlight these conditions. Verify before signing your loan agreement.
Undergraduate overseas courses are NOT eligible; scheme benefit can be availed only once in a lifetime; student cannot combine this with any other government scholarship; borrower must complete the course successfully, failing which the subsidy may be recovered.
✦ Collateral & Margin Money Terms
Collateral & Guarantee Requirement:
As per lending bank's overseas education loan policy.
Margin Money (Borrower Contribution):
15% standard for overseas education loans.
✦ Eligibility Requirements
OBC students with total family income up to ₹8.00 Lakh p.a. or Economically Backward Classes (EBC) students with family income up to ₹5.00 Lakh p.a. admitted to accredited overseas Masters, M.Phil, or Doctoral programs.
✦ Government Subsidies & Rate Concessions
100% interest subvention during moratorium period for OBC students (income < ₹8L) and EBC students (income < ₹5L) pursuing overseas Masters/Ph.D.
✦ Required Documents Checklist
OBC Non-Creamy Layer / EBC certificate issued by competent authority, annual income certificate, proof of admission in foreign university, I-20 or visa document, education loan sanction letter from scheduled bank.
✦ How to Apply Step-by-Step
1. Secure admission to an accredited overseas university.
2. Obtain an education loan from an IBA-member scheduled commercial bank.
3. Submit caste and income certificates to the lending branch.
4. Bank uploads claim on Canara Bank nodal portal under Dr. Ambedkar Scheme.
5. Government releases 100% interest subvention directly to the bank account.Official Portal
Official Portal / Lender Domain
Apply or verify directly on the official banking portal
✦ Frequently Asked Questions
What is the family income limit for OBC under Dr. Ambedkar Scheme?▼
For Other Backward Classes (OBC), the total family income from all sources must not exceed ₹8.00 Lakh per annum (Non-Creamy Layer limit). For EBC, the ceiling is ₹5.00 Lakh per annum.
Can I get subsidy for a Bachelor's degree abroad?▼
No. The scheme strictly applies to Master's, M.Phil, and Ph.D. level degrees in fields such as engineering, technology, medicine, agriculture, and pure sciences.
Is Dr. Ambedkar Scheme currently active?▼
Yes. Unlike Padho Pardesh, the Dr. Ambedkar Central Sector Scheme is actively functioning and accepting eligible claims through scheduled commercial banks.