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ABHINANDAN Scheme Assam 2020, Online Application

ABHINANDAN Scheme Assam 2020

Abhinandan Scheme is an education loan subsidy scheme by the government of Assam for pursuing higher education for the children of the permanent residents of Assam. Provide loan waiver to students of Assam who have availed education loans.

ABHINANDAN Scheme Assam 2020, Online Application

Details of Abhinandan Scheme Assam 2020 

Name of the Scheme: Abhinandan Education Loan Subsidy (AELS) Scheme

Launched by: Govt. of Assam

Implemented By: Dept. of Finance, Govt. of Assam

Objective: To provide loan wavier to students of Assam who have availed education loans.

Benefit: One-time subsidy of INR 50,000.00

Application Mode: Online

The objective of Abhinandan Scheme Assam 2020

The objective of this program is to extend relief to those permanent residents of the State, who have taken education loans or are in the process of taking education loans for their children to pursue their dreams of getting a higher education. This shall also promote many young and bright students who are unable to pursue their higher education due to financial constraints to take education loans in future.

Eligibility Criteria for Abhinandan Scheme Assam 2020

  • The scheme will cover all students who are permanent residents of Assam, studying in the state or outside, and have availed education loan from any commercial bank or Regional Rural Bank.
  • There shall be no income criteria.
  • Have not availed any benefit from Bidya Lakshmi Scheme.
  • The minimum education loan amount sanctioned to avail the benefits under the scheme shall be Rs. 1 lakhs.
  • Any account, which has not been classified as Non-Performing Asset (NPA) i.e. defaulting by the bank under Reserve Bank of India norms, will be eligible under the scheme.

One time subsidy of INR 50,000.00 shall be deposited in loan account

Main Features of Abhinandan Scheme

  • The scheme will cover all students who have availed Education Loan from any Nationalized or Cooperative Bank in Assam.
  • The scheme is valid for all accounts which are active till date.
  • To avail the benefit under the scheme, the minimum sanctioned education loan amount should be of Rs 1 lakh.
  • There will be no upper limit on the annual income of the students seeking to avail the benefits of this scheme.
  • The benefits of this scheme will be available to all permanent residents of Assam.
  • Government of Assam will directly transfer the subsidy to the banks.
Abhinandan Scheme Assam 2020 Application Form

  • Applicant has to visit the website ‘https://finance.assam.gov.in’; Click on the Loan Subsidy link and by filling the online application form along with uploading the necessary documents.
  • After successful submission of the application, the application should take a print of the application form and keep it safe for future reference.
  • In the online form, the applicant shall be required to provided information about her/his father’s name guardian’s name, contact information, Pan Card and details about loan & the IFSC code of the branch from which it is availed.
  • Applicant has to upload documents as proof of address, copy of pan card and proof of education loan availed

FAQ- Abhinandan Education Loan Subsidy Scheme

1. What is the Abhinandan Education Loan subsidy (AELS) scheme?

Abhinandan Education Loan subsidy scheme is a program by the government of Assam to provide Rs. 50,000/- to all loanees who have availed education loans sanctioned till 31st March 2019. Further, all education loans sanctioned during 2019-2020 shall also be eligible for this subsidy.

2. What is the objective of the Program?

The objective of this program is to extend relief to those permanent residents of the State, who have taken education loans or are in the process of taking education loans for their children to pursue their dreams of getting higher education. This shall also promote many young and bright students who are unable to pursue their higher education due to financial constraints to take education loans in future.

3. Who are eligible to avail benefits from this scheme?

The scheme will cover all students who are permanent residents of Assam, studying in the state or outside, and have availed education loan from any commercial bank or Regional Rural Bank. There shall be no income criteria. Have not availed any benefit from Bidya Lakshmi Scheme. The minimum education loan amount sanctioned to avail the benefits under the scheme shall be Rs. 1 lakhs. Any account, which has not been classified as Non-Performing Asset (NPA) i.e. defaulting by the bank under Reserve Bank of India norms, will be eligible under the scheme.

4. Education loans availed during which time period duration is applicable for this scheme?

Education loans that has been sanctioned till 31st March 2019 are eligible to apply for this scheme. Further any loan that shall be sanctioned during current financial year i.e. 2019-20 shall also be eligible to avail this scheme.

5. Are personal loans taken to pursue education shall be subsidized under this scheme?

No, only education loans shall be subsidized under this scheme.

6. Is the Finance Department of Government of Assam providing education loans?

No, Finance Department of Government of Assam is only providing subsidy for education loans sanctioned by the banks. 

7. Where and how can I apply?

The applicant has to visit the website ‘https://finance.assam.gov.in’; Click on the Loan Subsidy link and by filling the online application form along with uploading the necessary documents.

8. What should the applicant do after the submission of the application?

After successful submission of application, the application should take a print of the application form and keep it safely for future reference.

9. What details shall be required to be filled in the online form?

In the online form the applicant shall be required to provided information about her/his father’s name guardian’s name, contact information, Pan Card and details about loan & the IFSC code of the branch from which it is availed.

10. What are the document required to be uploaded?

Applicant has to upload documents as proof of address, copy of pan card and proof of education loan availed.

11. What are the proofs shall be valid for address proof?

Any one of the following documents shall act as proof of address

  • PRC Certificate
  • Ration Card
  • Aadhaar Card,
  • Driving License,
  • Voter Card,
  •  Passport

12. What all proofs shall be valid as loan proof?

Any one of the following documents shall act as proof of identity

  • Loan Sanction Letter
  • Loan Account Passbook Page showing details of the loan
  • Loan Account Statement

These documents can be obtained from the branch of bank from which the loan has been availed.

13. Where can I obtain the documents for loan proof?

These documents can be obtained from the branch of bank from which the loan has been availed.

14. What should be the Type and size of the documents to be uploaded?

The application should upload document in JPG/JPEG/PNG/PDF version only. The size of each document should be less than 2 MB.

15. Where can I know the status of my application?

Applicant can track their status of application using registered mobile number and application number/loan account number.

16. Where can I lodge my grievance? 

The branch Manager of the branch from where the loan has been sanctioned shall be Grievance Redressal Officer. An applicant has to formally submit a letter addressed to the Branch Manager.

Important Web-Links

Online Application: Click Here

Official Website: Click Here

Track Your Application Form: Click Here

FAQs: Click Here

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