Search

Select theme:

Saved articles

You have not yet added any article to your bookmarks!

Browse articles

GDPR Compliance

We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policy, and Terms of Service.

Salem district clocks ₹89cr education loans till Oct-2026

Salem district clocks ₹89cr education loans till Oct-2026

The District Lead Bank Manager, P. Senthil Kumar said that the average interest rate was 11.25 to 11.05 per cent depending on the policies of the participating banks.

KumudamBizNews REGION 2 நிமிட வாசிப்பு
பகிரவும் WhatsApp Facebook

The Salem district administration has successfully disbursed approximately ₹89 crore in education loans to 4,500 students in the current academic year to purse higher education in the current academic year

For the academic year 2026-27, the district administration, in collaboration with banks and educational institutions, has set a target of distributing ₹130 crore to 7,592 students. Out of this target, 4,500 students have already received support totalling around ₹89 crore, informed District Collector K. Elambahavath ,presiding over a special education loan camp held today (November 5, 2026) at the Knowledge Institute of Technology (KIOT).

The Collector added that the government aims to help students and parents alleviate economic burdens, further noting that special outreach camps are being held in colleges to take the loan opportunity closer to the student. Besides imparting awareness about the loan possibilities and repayment processes, the students are also helped through volunteers to apply on the PM Vidyalaxmi Portal.

The District Lead Bank Manager, P. Senthil Kumar said that the average interest rate was 11.25 to 11.05 per cent depending on the policies of the participating banks. Additionally, a special 0.5% interest concession is provided to encourage female students. 

Students are allowed a moratorium period up to 5 years in case of engineering courses (four years of course duration and one year of placement period) for repayment. Loans up to ₹7.5 lakh are sanctioned without any collateral requirement. Senthil Kumar added that the educational loan target of ₹130 crore will be achieved in this financial year.

முந்தைய செய்தி
Last-minute shopping, travel rush hit city traffic
அடுத்த செய்தி
Contract sanitation workers protest seeking Deepavali bonus

தொடர்புடைய செய்திகள்