Members can avail this facility for supporting his/her son/daughter or any other dependent family member, who is educated but unemployed, to go abroad for employment This loan is for meeting the initial expenses like visa processing charges, ticket expenses, basic caution money to be kept in bank accounts, agent’s fees, other incidental expenses etc.
The applicant shall be either the parent/guardian or spouse/parent-in-law (in the case of married candidates) of the person propose to go abroad for employment. The applicant must have a regular income source to repay the loan. Copy of mark sheets and certificates of the examinations passed by the employee (10th/12th/UG/PG and other examinations passed as the case may be, shall be submitted along with the statement of expenses and its proof. The copy of the mark sheet (Score Report) of GRE, GMAT, TOEFL, IELTS, etc. whichever is applicable shall also be produced.
Maximum loan amount is ₹ 20 lakhs with a loan margin of 15%.
The maximum period of loan shall be 5 years.