Canara Bank has launched ‘skill loans’ in association with the Additional Skill Acquisition Programme (ASAP).
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Loans ranging from ₹5,000 to ₹1.5 lakh can be availed of by students pursuing skill training programmes offered by ASAP Kerala or any other Central or State government-recognised agencies that conduct National Skills Qualifications Framework (NSQF) or National Skill Development Corporation (NSDC) courses.
The loan was formally launched by Higher Education Minister R. Bindu in the presence of Canara Bank general manager and State Level Bankers’ Committee convener S. Premkumar on Wednesday.
According to an official release, the loan will be provided without any collateral and have a repayment period of three to seven years. Students can also avail themselves of moratorium on repayment for the duration of the course and for an additional six months.