INTEREST SUBSIDY ON EDUCATION LOAN FROM BANKS

Highlight Of Interest Free Loan Scheme Under “JELP"

  • JATF provides interest subsidy to students on interest paid by them on educational loan taken from Banks or recognised NBFC.
  • Application in prescribed form has to be submitted during April to July each year.
  • Interest Subsidy is provided only for the Course period only.
  • Applicant should have obtained minimum 60% or more marks in SSC and thereafter.
  • JATF provides interest subsidy as under:
    • @ 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

  • 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”.
  • 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.
  • JATF provides interest subsidy on interest paid by students for previous financial year ended on 31 st March.
  • 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.
  • JATF provides interest subsidy as under:
    • @ 6% Interest Subsidy for Loan Amount up to Rs 4 Lacs, or.
    • @ 2% Interest Subsidy for Loan Amount above Rs 4 Lacs.
  • 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
  • Applicant should be a follower of Jain principles.
  • Students up to 30 years of age can apply.
  • 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.
  • Bank Loan should be of Rs 50,000/- or more for the Course.
    • Application Procedure For Registration
    • Registration Form can be downloaded from the website www.jatf.in.
    • Registration form should be in JATF prescribed Form and it should be duly filled and signed by the applicant.
    • Registration is Free of cost.
    • 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.
    • 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
    • Applicants are not required to repay the amount paid under JELP.
    • Financial assistance under JELP has to be considered as interest Subsidy which is not repayable.
      Miscellaneous
    • All beneficiaries under JELP have to compulsorily submit a progress report of his course, mark sheets etc to JATF Head Office.
    • All beneficiaries must inform JATF for change of address, contact number, email ID, college, course etc immediately as and when it occurs.
    • On/after completion of course applicants should promptly furnish all relevant details of his job/employment/business to JATF office.
    • 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
    • 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.
    • To download JELP Registration Form – Please Click Here.
    • To download JELP Claim Form – Please Click Here – Please Click Here
    • To download guideline of JELP Scheme -Please – Please Click Here