FAQ’s
FAQs
Indian students of all communities, residing in India. The applicant should have completed school level studies and have secured admission to the desired recognised Institute for pursuing higher studies.
Yes, but the guarantor should be a resident of Mumbai.
No, as there are several formalities to be completed once a loan scholarship has been granted by the Trustees.
Online Application is available on https://rdsethnascholarships.org
Printed Application Forms can also be obtained from the Trust office at: Esplanade House, 29, Hazarimal Somani Marg, Fort, Mumbai-400 001. Tel: 22077044 on payment of Rs.50/- either in cash or by Postal Order. Candidates requesting for Forms by post must send a self-addressed Rs.10/- stamped envelope of size: 23 cm x 10 cm.
Duly completed Application Forms should reach the Trust Office not later than 31st July for studies overseas and by 31st August each year for studies in India.
The amount of loan scholarship will be decided as per the assessment of the Trustees.
The details are provided in the Eligibility Criteria page.
Yes, the student who is granted a loan scholarship will have to submit a life insurance policy for the amount of the loan sanctioned and to be further sanctioned for the duration of the course. The insurance policy should be “Endowment Policy” for a period of 20 to 30 years from LIFE INSURANCE CORPORATION OF INDIA or Tata AIA Life Insurance Company Ltd and should be assigned to the Trust. The Insurance Policies will have to be obtained by our authorised Agents only. The premiums for the insurance policy will have to be paid by the candidate regularly through standing instructions to their respective bank i.e. through the ECS mode. The copies of premium paid receipts should be submitted to the Trust office. The guarantor need not submit any collateral security.
The student can contact the company that issues insurance policies and check the procedures and formalities to be completed.
Yes, provided the academic progress is satisfactory. However, a new application Form will have to be submitted for consideration each year. The guarantor can remain the same. The insurance policy if it covers the additional loan scholarship amount will also be accepted if submitted in the previous year.
Total loan scholarship is repayable within a period of 3 years after completion of the course.
The interest levied on the loan amount is 2% per annum
The above terms and conditions are subject to change as per the discretion of the Trustees without prior intimation. More information is provided in the Application Form.