Loans up to Rs 20 lakhs to be given

JITO to help in interest payment

VIJAYAWADA: Jain International Trade Organisation, a Mumbai-based organisation working for the socio-economic empowerment and welfare of Jains, has launched an easy education loan scheme called JITO Educational Loan Programme to encourage Jain students to pursue higher studies.

A press release said that the JITO joined hands with the Oriental Bank of Commerce to empower Jain students by providing educational loans up to Rs. 20 lakh for international studies and up to Rs.10 lakh for higher education in the country at a special rate of interest. For all those who take loans up to Rs.1 lakh, the JITO will contribute a significant portion of the interest payment. Boys will effectively pay only 5 per cent rate of interest, while girls will pay only 4.5 per cent. JITO president Hemant Shah said this year educational loans of a total value of Rs. 25 crore will be disbursed and next year the figure could touch Rs. 50 crore. Jain students and their parents who wish to make use of the opportunity could apply online at www.jito.org or contact JITO by calling 022-66102003/04. One could also email at contact@jito.org or jelp@jito.org.