The introduced "Educational Loan Scheme 2058" in November 2001 with the objectives of helping its members for the higher studies of the member himself or his/her spouse or children. Under this scheme the EPF provides loan to its members for a period of 15 years or remaining tenure of members whichever is less. This facility is provided to members against the collateral of land, building certain areas fixed by EPF or the PF deposit of member. Under this scheme, members with five years of their regular contribution in their PF deposit and having at least 5 year term of office are eligible to take loan up to a sum of Rs. 0.9 million for the study in foreign countries and Rs. 0.6 million for the study within the Kingdom. Subject to revision, the current rate of interest on this loan is 8%. Till now, about 740 EPF Members are benefited from this scheme.