INTEREST SUBSIDY ON EDUCATION LOAN FROM BANKS
Highlight Of Interest Free Loan Scheme Under “JELP"
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JATF provides interest subsidy to students on interest paid by them on educational loan taken
from Banks or recognised NBFC.
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Application in prescribed form has to be submitted during April to July each year.
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Interest Subsidy is provided only for the Course period only.
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Applicant should have obtained minimum 60% or more marks in SSC and thereafter.
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JATF provides interest subsidy as under:
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@ 6% Interest Subsidy for Loan Amount up to Rs 4 Lacs, or.
- @ 2% Interest Subsidy for Loan Amount above Rs 4 Lacs.
“JELP” – JATF EDUCATION LOAN PROGRAMME
Interest Subsidy on Education Loan
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Jito Administrative Training Foundation (JATF) provides interest subsidy to students on interest paid by
them on educational loan taken from Banks or recognised NBFC under its scheme “JELP”.
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Student must register him/her self under JATF’s “JELP” scheme within 3 months from the date of
sanction of Bank loan/ or before 31 st March to avail the interest subsidy on education loan.
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JATF provides interest subsidy on interest paid by students for previous financial year ended on 31 st
March.
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Students must apply for the Interest Subsidy every financial year between 1 st April to 31 st July.
Interest Subsidy is provided only for the course period irrespective of Bank’s loan period.
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JATF provides interest subsidy as under:
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@ 6% Interest Subsidy for Loan Amount up to Rs 4 Lacs, or.
- @ 2% Interest Subsidy for Loan Amount above Rs 4 Lacs.
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Decision of JATF/JELP Committee shall be FINAL and BINDING to all the applicants and it can’t be
disputed or challenged anywhere.
The Salient features of the SEED scheme is as under
Eligibility
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Applicant should be a follower of Jain principles.
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Students up to 30 years of age can apply.
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Student should have secured 60% or more marks or equivalent to that in all the Board/College/University examination commencing from Std 10th and onward.
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Bank Loan should be of Rs 50,000/- or more for the Course.
Application Procedure For Registration
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Registration Form can be downloaded from the website www.jatf.in.
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Registration form should be in JATF prescribed Form and it should be duly filled and signed by the applicant.
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Registration is Free of cost.
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Student must register him/her self under JATF’s “JELP” scheme within 3 months from the date of sanction of Bank loan/ or before 31st March to avail the interest subsidy on education loan.
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All applications received are acknowledged by issuing a Registration Number and any short coming of documents are informed by email.
Application Procedure for Claiming Interest Subsidy
- Applications for the Interest Subsidy under “JELP” are accepted from 1st day of April for each academic year.
- Subsidy Claim form can be downloaded from the website www.jatf.in or can be requested by email to [email protected]
- The Application Form with all relevant documents must reach to JATF Head Office at Mumbai latest by 31st July of that year.
- Interest Subsidy Claim form should be in JATF prescribed Form and it should be duly filled and
signed by the applicant and Bank Branch Manager also.
JELP Registration Documents
- Sanction Letter from Bank for Loan.
- Copy of the admission letter(s) from the Educational Institute/College..
- Copy of Fee Receipts, if any.
- Statement of the course fee and any other financial documents
(this would include any other letter indicating the receipt of a scholarship, other source of funding, fee waiver etc.).
- Mark sheets of Std 10th and onwards till last course completed.
- One passport size photograph, Copies of PAN Card, Aadhar Card, Latest Electricity Bill.
- Copy of Passport & Visa Copy (if student is going abroad for study).
- Latest Income Tax Returns / Income proof of both parents (self, if any).
- Certificate of being Jain follower / Religion Certificate
- School Leaving Certificate/Date of Birth Certificate
- Recommendation from any JATF Patron Member or JITO Chapters/JITO CP/FCP/Patron Member is compulsory.
JELP Interest Subsidy Claim Documents
- Sanction Letter from Bank for Loan.
- Interest Payment Certificate from Bank for April to March period.
- Copy of Pass Bank / Bank Statement showing payment of Interest.
- No Due Certificate from Bank, if loan is fully repaid.
Repayment of Loan
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Applicants are not required to repay the amount paid under JELP.
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Financial assistance under JELP has to be considered as interest Subsidy which is not repayable.
Miscellaneous
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All beneficiaries under JELP have to compulsorily submit a progress report of his course, mark sheets etc to JATF Head Office.
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All beneficiaries must inform JATF for change of address, contact number, email ID, college, course etc immediately as and when it occurs.
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On/after completion of course applicants should promptly furnish all relevant details of his job/employment/business to JATF office.
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Students can avail benefit from JATF either under “JELP” or “SEED ” Scheme i.e. students cannot apply for both the schemes for same course.
Contact Information
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For more information on JELP scheme please feel free to write us on [email protected] or [email protected] or call on 022-49620639/49630107/8655998688 between 10am to 4pm on all working days.
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To download JELP Registration Form – Please Click Here.
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To download JELP Claim Form – Please Click Here – Please Click Here
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To download guideline of JELP Scheme -Please – Please Click Here