Jain International Trade Organization (JITO) has launched an easy education loan scheme – JIOT Educational Loan Programme (JELP) – to encourage Jain students to pursue higher studies.
Headquartered in Mumbai, JITO is a global organisation working towards socio-economic empowerment, community welfare, spread of global friendship, achieving economic prosperity and providing quality education.
According to a release, JITO has joined hands with Oriental Bank of Commerce to provide up to Rs. 20 lakh for international studies and up to Rs. 10 lakh for higher education in India at special rates of interest.
For those availing themselves of loans up to Rs. 1 lakh, JITO will contribute a significant portion of the interest. Hence, male students will have to pay 5 per cent interest and girl students will have to pay 4.5 per cent interest.
Hemant Shah, President of JITO said the education loan for this year would be Rs. 25 crore, while next year the figure would be nearly Rs. 50 crore.
M/s. Credila would process the loan applications on behalf of JITO.
Jain students desiring to avail themselves of this loan can apply online to www.jito.org or contact JITO at 5, 2nd floor, 7 / 10, Botawala Building, Horniman Circle, Fort, Mumbai – 400023.