Gujarat Unreserved Educational And Economic Development Corporation

Gujarat Unreserved Educational And Economic Development Corporation (GUEEDC) published notification for the Foreign Education Loan Scheme, Education Loan Scheme, Self-employment Loan Scheme, For More Detail Please Read Below Article.

It is a good opportunity for all the interested candidates who are looking for Education Loan & Other Loan Scheme From Gujarat Unreserved Educational And Economic Development Corporation (GUEEDC). For more information related to Educational Qualification, Age Criteria, Selection Mode, Important Date and other Eligibility process please read the below article carefully. Also must read the official advertisement in detail before applying.

GUEEDC Loan Scheme:

Foreign Education Loan Scheme

Education Loan Scheme

Self-employment Loan Scheme

Full Details Of All Scheme:

Foreign Education Loan Scheme:

Scheme Format / Loan Assistance Standards:

After Std-12 only MBBS, Bachelor (valid even if degree is obtained after Diploma) Postgraduate as well as Post Graduation Diploma or other equivalent course for non-reserved class students for higher studies abroad for a total of Rs. 13.00 lakh foreign study loan will be provided by the corporation.

Eligibility Criteria: 90% or more in Std-12.

Interest rate: Simple interest at 5% per annum.

Income limit: The annual income limit of the family is less than Rs. 3.00 lakh.

Loan Guarantee / Document:

⇛The total loan amount for the entire course is Rs. 3.50 lakh or less.

⇛If the total loan amount of the entire course is more than Rs. 3.50 lakh, the total amount will have to ⇛be mortgaged in favor of one's own or any other relative's real estate corporation.

⇛Each borrower will have to give five post dated checks signed in favor of the corporation

Loan Repayment:

⇛In case of total loan up to Rs. 3.00 lakh, it will have to be paid in equal monthly installments in 5 (five) years after 1 year of completion of study.

⇛In case of loan above Rs. 3.00 lakh, it will have to be paid in equal monthly installments in 6 (six) years after 1 year of completion of study.

⇛The repayable loan money will have to be deposited at first interest.

⇛The borrower can repay the loan even before the fixed time limit

Education Loan Scheme:

Scheme Format / Loan Assistance Standards:

Self-contained undergraduate courses in medical, dental, vocational courses in the state, engineering, technology, pharmacy, architecture, ayurvedic, homeopathy, physiotherapy, veterinary, etc. , Except BAC, BA etc.,) Total tuition fee of the entire course or Rs.10.00 lakh whichever is less, the loan will be given by the corporation at simple interest of 5%.

The scheme will provide loans for undergraduate courses running in the state as well as for medical undergraduate, medical postgraduate and postgraduate courses in IIM, IIT, NID, NIFT, IRMA, TISS studying in the state and other states / UTs of India.

Eligibility Criteria: 90% or more in Std-12.

Interest rate: 5% interest per annum

Income Limit: The annual income limit of the family is Rs. 4.00 lakhs or less.

⇛The applicant should be of non-reserved class.

Eligibility and Lending Criteria for Educational Schemes:

⇛Must have passed Std-12 from any school in the state of Gujarat with 80% or more.

⇛Who will be eligible for a loan for a course accredited by the relevant council of that course.

⇛The applicant should be from Gujarat and should be from non-reserved category.

⇛Proof of admission to the relevant course will have to be submitted.

⇛The interest rate on the loan will be 5% simple interest per annum. The same amount will be lent per year. Simple interest will be treated accordingly.

⇛The widow and orphan beneficiary will have to give priority to the applicant.

⇛Loans of those who drop out in the middle of the study or do not get the degree within the stipulated time limit will be eligible for simultaneous recovery as well as interest subsidy will not be available.

⇛The annual income limit of the family for the educational loan schemes of the state will be 2.00 lakh or less.

Loan Guarantee / Document:

⇛The total loan amount for the entire course is Rs. 3.50 lakh or less.

⇛If the total loan amount of the entire course is more than Rs. 3.50 lakh, the total amount will have to be mortgaged in favor of one's own or any other relative's real estate corporation.

⇛Each borrower will have to give five post dated checks signed in favor of the corporation.

Loan Repayment:

⇛In case of total loan up to Rs. 3.00 lakh, the loan amount will have to be repaid with interest in equal monthly installments in 5 (five) years after 1 year of completion of the study.

⇛In case of loan above Rs. 4.00 lakh, the loan amount has to be repaid with interest in equal monthly installments in 6 (six) years after 1 year of completion of the study.

⇛The loan amount repaid will be credited at first interest.

⇛The borrower can repay the loan even before the fixed time limit.

Self-employment Loan Scheme:

Scheme Format / Loan Assistance Standards:

⇛Onroad unit cost for self-employed vehicles like rickshaws, loading rickshaws, Maruti Ecos, jeep-taxis etc.

⇛For any self-employed business like business or grocery store, medical store, readymade garment store, bookstore etc. up to Rs.

⇛Transport, Logistics, Travelers, Food Courts etc. will be eligible for 3% interest subsidy on a loan of Rs.

Lending criteria for self-employment schemes:

⇛The applicant must have a valid license in the vehicle loan scheme.

⇛The vehicle obtained will have to be mortgaged (hypothecated) towards the corporation.

⇛The loan will have to be repaid in equal monthly installments of five years after three months of receipt of the vehicle.

⇛The small business will have to start within three months of getting the loan and after three months after starting the business the loan will be recovered in an equal monthly installment of five years.

⇛For a loan amounting to a total of Rs. 3.50 lakh or less, the beneficiary will have to incur a burden on his own or relative's property worth one and a half times the loan amount.

⇛If the total amount of the loan is more than Rs. 3.50 lakh, the total amount will have to be mortgaged in favor of oneself or any other relative's real estate corporation.

⇛Each borrower will have to give five post dated checks signed in favor of the corporation.

All self-employment schemes will also have the following qualifications:

⇛The applicant should be a native of Gujarat and should be of non-reserved category.

⇛The age of the applicant should be between 18 years to 60 years.

⇛The interest rate on the loan will be 5% per annum, simple interest and 3% for women.

⇛The same amount will be lent per year. Simple interest will be treated accordingly.

Interest rate: The interest rate on the loan will be 5% per annum for simple interest and 3% for women.

Income Limit: The annual income limit of the family is Rs. 4.00 lakhs or less.

Important Link

Foreign Education Loan Scheme: