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The Govt. of Sikkim has introduced Comprehensive Educational Loan for granting loan to students of Sikkim desiring to pursue their higher studies within India and abroad w.e.f July 2007. SIDICO is the Nodal Agency for implementation of this scheme. Loan processing fee @ 0.5% shall be charged on the sanctioned amount.

  The quantum of loan for study is as under :  
a)  Study within Sikkim ( maximum ) Rs.10.00 lakhs
b)  Study in other states - do - Rs.12.00 lakhs
c)  Study abroad - do - Rs.15.00 lakhs
  Rate of interest  
  The loan under this scheme is interest free during the course period and thereafter it shall bear interest @ 6% p.a.  

Study loan within Sikkim is restricted to members of BPL families for full time professional   courses only.



Benifit shall be restricted to children of person whose gross income from all sources does not exceed Rs. 10.00 lakhs annually for study within Sikkim, Rs 12.00 lakhs annually for study outside Sikkim in India and Rs. 15.00 lakhs annually for study in foreign countries. The income Certificate shall be certified by the District Collector concerned, subject to revision from time to time. The District Collectors shall, however, ensure that income certificate given by their officers are accurate.


Study loan benefit is restricted to only one member of the family except in case of BPL families.


The institution of study must be recognized by the competent authority.

v) Children of Government / Public Sector Undertaking employees are also be eligible subject to clause No. ( i ), ( ii ) and (iii) above.
vi) The Comprehensive Education Loan shall be available only for pursuing : -
a) Technical, professional and post graduate course;
b) MBBS courses recognized by the Medical Council of India (MCI) whether in India or abroad;
c) Medical, Post Graduate or Research work in a foreign university.
i) The Applications for load shall be received from the month of June to August of each year.
ii) Within each category of the people as indicated under I (2) (i) above, selection of the loanee shall be on merit, based on the marks obtained by the candidate at the Board/University examination.
iii) In selecting the loaness, preference shall be given to candidate who have secured admission to leading professional institutions namely Indian institute of Technology (IIT), Indian Institute of Management (IIM), National Institute of Information Technology (NIIT), Natioal Institute of Fashion Technology (NIFT) ect.
iv) Sikkim Industrial Development and investment Corporation Ltd. shall be the prescribed agency to accept all applications and disburse the loan amount at their end duly ensuring that the eligibility criteria have been met and that all necessary obligations and formalities that are required to be fulfiled have been fulfilled.
v) Loans shall be disbursed by Sikkim Industrial Development and Investment Corporation Ltd. after final approval of the Government based on the recommendation of the Committee comprising of Secretary, Human Resource Development Department as the Chairman Director, Directorate of Capacity Building as Member and Managing Director, Sikkim Industrial Development & Investment Corporation as Member Secretary.
vi) A list of the loanees with relevent details shall also be submitted for information of the State Government by Sikkim Industrial Development and investment Corporation Ltd. through directorate of Capacity Building of Personnel every year.
vii) The Directorate of Capacity Building shall ensure wide publicity through Sikkim Herald regarding the Scheme and the last date of submission of application so that all eligible Sikkimese student have a fair chance to avail the facility.
Documents required
  The applicant is required to submit attested copy of following documents:  
a) Sikkim Subject / Certificate of Identification
b) Occupation of parent / guardian
c) Income certificate of parents
d) Education qualification certificates
e) Letter of admission issued by the College / University / Institute
f) Collateral securities
g) Tuition fees and cost of study
  If study is proposed abroad, following additional documents are required:  
a) Passport and Visa
b) Admission letter of Institute
  The loan under this scheme is released directly in favour of the Institute after executing mortgage deed and other necessary loan documents.  
  Repayment of loan  
  The loan is payable in five to seven year in Equated Monthly Installment ( EMI ) basis after the moratorium period.  
  Committee members for the above scheme  
  Secretary,HRDD, Govt. of Sikkim                               :Chairman  
  Director,Capacity Building,Govt. ofSikkim                   :Member  
  Managing Director, SIDICO                                        :MemberSecretary  

Sikkim Industrial Development & Investment Corporation Ltd. Sikkim, India
All rights reserved. Email :
mdsidico@rediffmail.com. Website : sidico.org

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