Kalinga Siksha Sathi Yojana To Provide Education Loan @1% Interest


BHUBANESWAR: Odisha government on Monday launched a new scheme ‘Kalinga Siksha Sathi Yojana’ to provide a loan at one percent interest to students willing to pursue higher studies.

Chief Minister Naveen Patnaik launched the new scheme here.

“In the tune of the promise of providing education loan at less interest rate, today the state government has decided to provide education loan at 1 percent per annum. This will be a major help for students undergoing higher education including Management, Law, Engineering, Medicine, etc,” said the Chief Minister.

[box type=”shadow” align=”alignleft” class=”” width=””]Also read: Everything you need to know about Kalinga Siksha Sathi Yojana[/box]

He said the historic and pioneering step of the government would reduce the loan burden of lakhs and lakhs of parents.

The scheme will also financially empower poor students to pursue their aspiration in higher education. The state government will meet the fund requirement of about Rs 500 crores from its resources, he said.

“I dedicate the scheme to the foresight of Bijubabu on his birth centenary who had instituted ‘Kalinga UNESCO’ award for the popularization of science when he was only 35 years old,” said the Chief Minister.

Criteria For Availing Loan

  1. Family income must be below 4.5 lakh per annum
  2. Security deposit as per bank rules
  3. Students will have to repay the loan amount after 4-5 years moratorium period
  4. Maximum 10 lakh loan can be availed
  5. Bankers to decide to whom loan would be provided

122 thoughts on “Kalinga Siksha Sathi Yojana To Provide Education Loan @1% Interest

  • June 27, 2016 at 1:32 pm
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    Please help…. Can a candidate can apply for this loan for abroad studies????
    And in which criteria??????
    Please help

    Reply
    • June 27, 2016 at 2:13 pm
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      Rajeeb,

      Govt has only announced the scheme. We will update you as soon as govt releases the criteria.

      Keep visiting Update Odisha.

      Reply
      • July 2, 2016 at 11:56 pm
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        When and for which bank this will be effective.

        Reply
        • July 3, 2016 at 12:02 am
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          We will let you know when it becomes effective.

          Reply
    • June 27, 2016 at 8:26 pm
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      Rajeeb,

      We have updated the criteria.

      Reply
    • June 27, 2016 at 8:22 pm
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      Sunil,

      We have updated the criteria.

      Reply
    • June 27, 2016 at 3:17 pm
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      Sunil,

      Only the scheme is launched. We will inform once we get the criteria.

      Reply
  • June 27, 2016 at 5:48 pm
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    hello sir i m a diploma mechanical engg. student so can i take this loan?
    and when do u expect the date of publication of criteria..???????

    Reply
    • June 27, 2016 at 7:55 pm
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      Usually 2 weeks.

      Reply
    • June 27, 2016 at 8:20 pm
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      You can apply after completing diploma, for degree purpose.

      Reply
  • June 27, 2016 at 6:28 pm
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    how much amount we can get and from which ban

    Reply
    • June 27, 2016 at 8:18 pm
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      Upto 10 lakhs

      Reply
  • June 27, 2016 at 6:29 pm
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    from which bank we will get loan

    Reply
    • June 27, 2016 at 7:50 pm
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      Govt will ask all nationalised and cooperative banks to facilitate loan

      Reply
  • June 27, 2016 at 7:20 pm
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    income to be less than 6L

    Reply
    • June 27, 2016 at 7:51 pm
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      We do not have any information on particular criteria right now.

      Reply
    • June 27, 2016 at 8:07 pm
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      Less than 4.5 lakhs

      Reply
  • June 27, 2016 at 7:53 pm
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    What is the criteria for apply this scheme ..plz help me..sir..

    Reply
    • June 27, 2016 at 7:57 pm
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      We will let you know when criteria is released by Govt

      Reply
  • June 27, 2016 at 7:56 pm
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    sir,
    i need help for my higher study so,i am waiting to apply for geti loan….i hope you will inform me soon about the scheme….thanks

    Reply
    • June 27, 2016 at 7:58 pm
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      We will inform you as soon as possible.

      Reply
  • June 27, 2016 at 8:06 pm
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    Some Criteria :

    1. Family income should be less than 4.5 lakhs/annum
    2. Maximum loan amount 10 lakhs

    We will update other information soon.

    Reply
  • June 27, 2016 at 8:11 pm
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    Will it be available if a candidate is from odisha and is studying in other states ?

    Reply
    • June 27, 2016 at 8:15 pm
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      Yes it will be available.

      Reply
  • June 27, 2016 at 9:18 pm
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    sir I want to read higher study.how can I apply this loan???

    Reply
    • June 27, 2016 at 10:58 pm
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      Bijay,

      You will have to apply to a bank.

      Reply
  • June 28, 2016 at 8:04 am
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    sir, when we will start applying for this facility????

    Reply
    • June 28, 2016 at 10:04 am
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      Subhransu,

      We will inform you as soon as govt directs banks to receive application for loans.

      Keep visiting updateodisha.com

      Reply
  • June 28, 2016 at 11:19 am
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    Sir,
    With due respect I have complete my +2 in chse board this year at hinjillicut science college .I have secured mark is 314 and 10 th mark is 470 and also givee jee main 2016 which scored is 70 and rank is 436645 and i want to study btech in computer science .so i get this loan sir

    Reply
    • June 28, 2016 at 11:33 am
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      Prajwal,

      It depends on the bank. Once govt directs banks to provide this loan to students, you can apply for it. They will decide whether you get the loan or not.

      Reply
  • June 28, 2016 at 12:44 pm
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    Can I get this facility for previous study loan

    Reply
    • June 28, 2016 at 1:11 pm
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      Sorry Ramesh, but you can not.

      Reply
    • June 28, 2016 at 5:20 pm
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      Yes you can. You can apply after the govt directs banks to receive applications.

      Reply
  • June 28, 2016 at 4:21 pm
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    Criteria For Availing Loan

    Family income must be below 4.5 lakh per annum
    Security deposit as per bank rules
    Students will have to repay the loan amount after 4-5 years moratorium period
    Maximum 10 lakh loan can be availed
    Bankers to decide to whom loan would be provided

    i hope this should be named Kalinga Siksha Sathi for selected catagories ?
    this education loan is not for everybody who really desires .

    Reply
  • June 28, 2016 at 5:02 pm
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    I want to study ll.m and now admission process is going on. So when and how we will apply. This loan facility will take some time. And in the mean time can we apply for loan. While study is continue.

    Reply
    • June 28, 2016 at 5:24 pm
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      Yes you can do that.

      Reply
  • June 28, 2016 at 8:46 pm
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    Sir when it will be came into effect………. Can I contact to any state bank to avail this loan…….if yes…than when I should contact….. To get this loan…???

    Reply
  • June 28, 2016 at 8:49 pm
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    Please sir,
    You will inform me about this to my e-mail as soon as it came into effect.

    Reply
    • June 28, 2016 at 8:54 pm
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      Krushna,

      We will inform you when it comes to effect.

      Reply
  • June 28, 2016 at 10:30 pm
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    sir tell me prossisesior to apply this loan

    Reply
    • June 28, 2016 at 10:44 pm
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      You can apply after the govt directs banks to receive applications.

      Reply
  • June 29, 2016 at 12:27 am
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    Is it also for general category ?? N pls inform how n frm when we an apply for this loan as I want to study MBA .! Thank you

    Reply
    • June 29, 2016 at 1:20 am
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      Yes, it is also for general category. We will update once govt directs banks to receive application. Wish you all the best.

      Reply
  • June 29, 2016 at 8:11 am
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    Can we avail this loan if we already have an existing loan?

    Reply
    • June 29, 2016 at 9:10 am
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      It depends on the bank. But usually it does not happen.

      Reply
  • June 29, 2016 at 10:40 am
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    sir is there any update relating which bank will provide loan facility in this scheme

    Reply
    • June 29, 2016 at 11:35 am
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      All nationalised and cooperative banks will provide this loan.

      Reply
  • June 29, 2016 at 10:43 am
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    how much minimum amount we can take?

    Reply
    • June 29, 2016 at 11:36 am
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      There is no such limit.

      Reply
  • June 29, 2016 at 9:16 pm
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    today i have called punjab national bank they said we dont have any update relating to it so from which date we can get this fasilities

    Reply
    • June 29, 2016 at 9:29 pm
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      Once Govt informs the Banks to receive loan application, you can apply.

      Reply
  • June 30, 2016 at 12:22 pm
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    When this scheme is availed in nationalized / co-operative banks in Odisha????????

    Reply
    • June 30, 2016 at 3:56 pm
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      Once the Govt directs the banks. We will update you.

      Reply
  • June 30, 2016 at 6:26 pm
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    Sir,
    I want to study MBA.So I desperately need this facility quickly for my admission process.when it should be allowed to the students and if I take loan now can it converted to this skim in future?
    Please inform me in my email address.

    Reply
  • July 1, 2016 at 9:39 am
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    Sir I have scored in 10th 70%,+2 82%,Bcom 71%,am I eligible for loan,also give the updates and criteria about loan

    Reply
    • July 1, 2016 at 11:26 am
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      It all depends on the Bank.
      Criteria are given in the post.

      Reply
      • July 2, 2016 at 11:31 am
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        Which bank will b providing this loan?

        Reply
        • July 2, 2016 at 11:55 am
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          All nationalised banks.

          Reply
  • July 2, 2016 at 2:28 pm
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    If admission date is over, how can I obtain the scheme ..

    Reply
    • July 2, 2016 at 3:20 pm
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      You usually take a loan after admission only.

      Reply
  • July 2, 2016 at 6:16 pm
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    my fathers annual income is 35000 and i’m a a bsc student can i got this loan?pls reply me..

    Reply
    • July 2, 2016 at 8:28 pm
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      Yes you can; when you go for higher studies.

      Reply
  • July 2, 2016 at 10:32 pm
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    Dear Sir,

    Am going pursue MBA , which will start on August in IBCS (S’O’A University). Can i avail this Loan, If Yes, In which bank I should Request for the Same ?

    Want to know your reply as soon as Possible

    Reply
    • July 2, 2016 at 11:05 pm
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      Yes, you can apply once Govt. directs Banks to provide loan.
      You can avail this loan in any nationalised bank.

      Reply
  • July 3, 2016 at 5:41 pm
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    is it for plus three students?i mean can i get this loan for my plus three second year and 3rd year?
    if yes then tell me its procedure

    Reply
    • July 3, 2016 at 7:53 pm
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      Yes, you can. Contact Bank for procedure.

      Reply
  • July 4, 2016 at 9:38 am
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    My daughter studying b. SC agriculture 3 year. Taken the study loan on high interest. Can the interest rate reduce in this scheme?

    Reply
    • July 4, 2016 at 10:12 am
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      No, you may not be able to reduce the interest rate of a previously availed loan.

      Reply
  • July 4, 2016 at 2:08 pm
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    Sir,
    What is the expected time to start the Kalinga Siksha Sathi Yogana Loan

    Reply
    • July 4, 2016 at 2:15 pm
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      Sorry Suman, we have no information regarding that. Scheme will be implemented following Cabinet’s approval.

      Reply
  • July 5, 2016 at 12:44 pm
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    when and how we can apply for the loan?

    Reply
    • July 5, 2016 at 12:52 pm
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      We will let you know when it becomes effective.

      Reply
  • July 7, 2016 at 9:23 pm
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    vl ths year the student wil get ta loan

    Reply
  • July 8, 2016 at 10:45 am
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    sir i am continuing my btech degree in electronics tele communication ,can i eligible ???

    Reply
    • July 8, 2016 at 12:33 pm
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      Yes Subhendu, you are.

      Reply
  • July 8, 2016 at 10:29 pm
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    from which date we can take loan?

    Reply
    • July 9, 2016 at 1:47 pm
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      Sawan,

      Govt. has not specified any date yet.
      We will update as soon as it does.

      Reply
  • July 9, 2016 at 11:41 pm
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    Sir I am continuing my job and also continuing btech a Nd also taking a personal loan will bank give me the loan

    Reply
    • July 10, 2016 at 1:37 pm
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      Ansu,

      It may become a little difficult for you to get the loan.

      Reply
  • July 14, 2016 at 12:59 pm
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    Yesterday I just went to nearest SBI to know about this scheme……but the manager told that till yet we have no any information for providing this loan………he also told that this loan will be available in cooperative banks……..

    Reply
  • July 14, 2016 at 1:04 pm
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    Sir…….it may not happen that ….loan avail date may cross our course completion after admission………… So sir will you please say me that the expected time of availing this loan in months…….if to say in date is impossible

    Reply
    • July 14, 2016 at 1:48 pm
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      Sorry Krushna,

      We have no information regarding the timing of availing loan. But loan can be availed from all Nationalised (that includes SBI also) and Cooperative banks. You can send your grievance through facebook to our CM.

      Here is the link- https://www.facebook.com/Naveen.odisha/

      We will update you whenever there is an update. Keep visiting updateodisha.com

      Reply
  • July 17, 2016 at 9:14 am
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    sir with the due respect,want to know from which date we can get our education loan @1% because our admission will be held soon

    Reply
    • July 17, 2016 at 11:11 am
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      Sorry, no date has been announced yet by Govt. We will update you as soon as it happens.

      Reply
  • July 19, 2016 at 10:18 am
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    I also need info on KSSY Scheme. Banks have no clue on this. Websites say it’s already launched. What’s going on?

    Reply
    • July 19, 2016 at 2:00 pm
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      Even though the state government has declared the scheme, it is yet to notify the same. Besides, the scheme must be approved by the cabinet.

      Reply
  • July 19, 2016 at 8:26 pm
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    is there any information about when cabinet meeting is there.because there is no value after student will do admission

    Reply
    • July 19, 2016 at 8:55 pm
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      Students usually avail the loan after admission

      Reply
  • July 20, 2016 at 4:35 pm
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    We can avail the loan after admission.Oh great,.Thanks for the info.

    Reply
  • July 22, 2016 at 10:40 am
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    Sir I complete my diploma.I want to admission in b.tech ..hah I apply for this if yes then how much period I get this loan because b.tech counseling will be done nd admission date 10/8/2016..if I admit but loan Wiil not scantion then i face a major problem because I belongs to a poor family…Sir plz reply

    Reply
    • July 22, 2016 at 12:34 pm
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      Usually, banks give loan after admission. You should consult with your nearest bank to get more details.

      Reply
  • July 25, 2016 at 9:56 am
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    Sir, i am B.tech final yr student and i have a study loan in sbi .

    Can I get this facility for ongoing study loan

    Plz sir inform me…

    Reply
    • July 25, 2016 at 11:18 am
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      It’s difficult to get a new loan if you already have a loan.

      Reply
  • August 9, 2016 at 3:42 am
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    sir mu addmisson karini loan karibi bali bhabuci kemiti kale heba

    Reply
    • August 9, 2016 at 10:41 am
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      Subham,

      This scheme is recently passed. Wait for a few days and then ask any nationalized bank near you.

      Don’t forget to check the updated information. The link is given at the top of this article.

      Or you may click here.

      Reply
  • August 12, 2016 at 9:53 am
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    Sir can get loan for +3 admission

    Reply
    • August 12, 2016 at 10:05 am
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      Sorry Dipak,
      It seems you may not get a loan for +3 admission.
      As per Govt, the course of study should be in Management or Integrated Law or Course of Engineering or Medicine in any educational institution in India.

      For more details, click Everything you need to know about KSSY

      Reply
  • August 14, 2016 at 8:10 am
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    Sir, can I get a loan for BSc information technology management??

    Reply
  • August 14, 2016 at 9:59 am
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    Sir can I get loan for nursing admission

    Reply
  • August 16, 2016 at 12:17 pm
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    Sir I am not admit b.tech this year for finical problem because loan can nt be approved clg demand 50% money out of course inwant yo asmit next year..can I get this loan this year

    Reply
    • August 17, 2016 at 12:16 am
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      You can get the loan only after admission.

      Reply
  • September 3, 2016 at 2:04 pm
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    But how are the low income families supposed to deposit security ? Hope the govt. has considered this factor while framing the criteria.

    Reply
  • September 7, 2016 at 11:31 am
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    respected sir i have been running from last two year for study loan but till now i have not got bet so i have not dipposite my course fees.if you provide me study loan then my future will bright

    Reply
  • September 16, 2016 at 2:31 pm
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    Dear Sir,

    When I inquired about the KSSY scheme in SBI Angul , they denied of receiving any letter from the government and their head office regarding the scheme.

    Reply
    • September 19, 2016 at 9:25 am
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      Sorry to hear it Sankarsan. When we inquired, the govt. officials said it was already sent. We are also in dilemma whom to believe.
      You can complain about it via Chief Minister’s twitter/facebook handle.

      Reply
  • September 27, 2016 at 9:34 pm
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    Good morning sir….
    i need your help…
    Sir i have been apply this loan from allahabad bank but some issuues is there.. Actually i have completed my 10th on 2007 with 46% but complmental ,..+2 science with 43%..on 2009 and after one year i had taken the +3 with 66.38% admisson wich is pass out year 2013-december….and i discontinued my study..after break 2 years (2013-2016) again i take admisson of MBA of the year 2016-2018.. And i applied study loan…issues is that the allahabad bank saying ..your loan may not be sancation…you may not be eligibility for take this loan due to you do not continue your study and your % is verry poor….so plz sir read it mindly and suggest me…and may i eligibility or not…

    Reply
  • October 3, 2016 at 2:10 am
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    JUST LEAVE THE HOPE FROM CM’S 1 % LOAN SCHEME,IT WAS JUST A IDIOT JOKE AND OUR CM IS LIKE THAT…….I WISH TO SAY MANY WORDS TO OUR SENSE OUT C.M.,BUT IT IS THE PUBLIC SITE…….

    Reply
  • October 16, 2016 at 11:27 am
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    CAN I GET A ONLINE WEBSITE / ONLINE APPLICATION FORM TO APPLY ON LINE.

    Reply
  • November 3, 2016 at 8:30 pm
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    can a student studying outside odisha avail the scheme?

    Reply
  • July 5, 2017 at 12:28 pm
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    Sir ,I am doing degree under Ouat , so can I apply the kssy loan??? If yes then when it ‘s date to apply?

    Reply
  • July 5, 2017 at 12:33 pm
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    Sir, I am doing degree under Ouat so can I apply for the loan kssy? If I can apply then what was the date for application?

    Reply

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