Get instant loan offer suitable to your profile !
On this Page:
Read about (CGFSEL) Credit Guarantee Fund Scheme for Education Loans. Know features and criteria of Credit guarantee fund trust scheme for micro & small enterprises and students.
In our previous blogs and YouTube videos, we have emphasized enough how a loan with collateral can save you big in study abroad loans. But what if you are unable to pledge collateral for your education loan?
CGFSEL stands for Credit Guarantee Fund Scheme for Education Loans. Other than unsecured loans from private banks and NBFCs, one of the solutions is the Credit Guarantee Fund Trust Scheme for micro & small enterprises and students.
Under the CGFSEL, the borrower is eligible to get loans from lenders without pledging any security or providing any third-party guarantee..
Let’s explore in-depth about the scheme and related terms and conditions.
The Credit Guarantee Fund Scheme for Education Loan(CGFSEL) was launched by the Government of India in 2015. This scheme was launched to guarantee education loans to students from the economically weaker sections under the Model Education Loan Scheme of the Indian Banks’ Association (IBA).
This scheme is meant for student borrowers who are unable to pledge any collateral for their loan and are also unable to provide any third-party guarantee. Under this scheme, a student can get a collateral-free loan, and without a third-party guarantee, of INR 7.5 lakhs.
Students have to meet a few criteria in order to avail of an education loan under the Credit Guarantee Fund Scheme. These requirements are as follows:
Check Your Education Loan Eligibility
Some prominent features of this scheme are as follows:
The following kind of loans are covered under the Credit Guarantee Fund Scheme -
Read Also:
The following kinds of loans are not covered under the Credit Guarantee Fund Scheme for education loan-
Now that you know all about the Credit Guarantee Fund Scheme for Education loans, apply for it if you are eligible.
Check Your Education Loan Eligibility
Ask from a community of 10K+ peers, alumni and experts
Trending Blogs
Similar Blogs
Network with a community of curious students, just like you
Join our community to make connections, find answers and future roommates.. Join our CommunityCountry-Wise Loans
Best Lenders for Education Loan
ICICI Bank
Axis Bank
Union Bank
Prodigy
Auxilo
HDFC Credila
IDFC
InCred
MPower
Avanse
SBI
BOB