Dr Ambedkar Interest Subsidy Scheme: Study Abroad Guide

What is the Dr. Ambedkar Interest Subsidy Scheme?

An interest subsidy scheme that waives education loan interest during study and moratorium periods for OBC/EBC students studying abroad.

What is the family income limit for EBC students under this scheme?

For Economically Backward Classes (EBC) students, the total family income from all sources must not exceed ₹2.5 Lakhs per year.

What is the family income limit for OBC students?

For Other Backward Classes (OBC) students, the total family income must not exceed ₹8 Lakhs per year to qualify.

Which degree levels are covered under this scheme?

The scheme only covers postgraduate studies (Master's) and doctoral programs (Ph.D.) abroad. Bachelor's degrees are not eligible.

Do I need a caste certificate to apply?

Yes, OBC candidates must upload a valid, non-creamy layer OBC certificate issued by the competent authority.

Is there a limit on the overseas loan amount?

No, but the interest subsidy is capped up to a maximum loan amount of ₹20 Lakhs. Interest on amounts above this limit must be paid by the student.

Who is the nodal bank for implementing this scheme?

Canara Bank is the designated nodal bank that processes and disburses the interest subsidy claims on behalf of the Ministry.

Can a student claim this subsidy for an online foreign degree?

No, the student must be enrolled in a regular, physical course at an accredited foreign university and travel abroad to study.

What happens if I secure a job abroad during the course?

The interest subsidy is valid only for the moratorium period (course duration + 1 year), after which the borrower must pay full EMIs.

How do I apply for the Dr. Ambedkar Interest Subsidy?

You must apply through your lending bank, which will verify your certificates and upload your claim to the Canara Bank subsidy portal.

Dr. Ambedkar Central Sector Scheme of Interest Subsidy