Karnataka Arivu Education Loan Scheme – 2% Interest Rate for Minorities

Arivu Education Loan Scheme is an initiative of the Karnataka Minorities Development Corporation (KMDC). Under this scheme, students of Karnataka can avail of an education loan of up to INR 3 lakh for technical education courses, with a nominal interest rate of 2% per annum

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This scheme is open to students from religious minority communities in Karnataka, including

  • Muslims
  • Jains, Sikhs
  • Christians
  • Buddhists
  • Parsis.

The loan facility is exclusively available to students who have been selected through the Karnataka Examination Authority (via CET/NEET) for courses such as

  • M.B.B.S
  • B.D.S
  • Ayush
  • B.Arch.
  • B.E.
  • B.Tech.

The loan amount allocated to the student will be transferred from the KMDC directly to the bank account of their respective college through the process of Direct Benefit Transfer (DBT).

This article encompasses essential information regarding eligibility criteria, necessary documentation, eligible courses for loans, interest rates, loan amounts, and the application process.

Latest Update –

  • The application portal is open now. Students can renew their Arivu education loan through the KMDCL Online Application Management System.
  • The last date to apply for the Arivu Education Loan is July 10, 2023. To apply for this program, visit the official website at kmdconline.karnataka.gov.in.

Arivu Education Loan Scheme – General Overview 

Name of Scheme  Arivu Education Loan Scheme
State  Karnataka 
Academic Year 2023
Provider  Karnataka Minorities Development Corporation (KMDC) 
Eligibility  Students belonging to religious minorities of Karnataka
Loan Amount  INR 50,000 to INR 3 lakh
Repayment Time  1 year after course completion  
Application Start Date June 13, 2023
Last Date to Application July 10, 2023  
Application Mode  Online/offline 
Official Website  kmdconline.karnataka.gov.in  

Arivu Education Loan Scheme – Eligibility

To apply for the Arivu Education Loan, students must fulfil specific eligibility requirements. Please review the following criteria:  

  • The applicant must be an Indian citizen and domiciled in Karnataka.
  • Students applying for this loan must belong to the State Religious Minority Community. 
  • Successful completion of the previous examination (Class 12 or graduation) is a prerequisite for applicants.
  • The annual family income of the applicant should not exceed INR 8 lakh. 
  • Under this scheme, students are not required to provide any collateral, guarantee, or margin money.
Note: Collateral refers to assets such as homes, properties, cars, and other valuable items that borrowers offer as security when applying for loans.

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Margin Money is the student’s own contribution towards the total education expenses when applying for a loan. It is a specific amount that borrowers allocate as their personal investment.

Arivu Education Loan Scheme –  Eligible Courses  

The scheme is available for students pursuing specific courses. Here is a list of the eligible courses: 

  • M.B.B.S.
  • M.D.
  • M.S. 
  • B.E.
  • B.Tech.
  • M.E. 
  • M.Tech.
  • B.D.S.
  • M.D.S.
  • B.Ayush.
  • M.Ayush.
  • M.B.A.
  • M.C.A.
  • L.L.B.
  • B.Arch.
  • M.Arch.
  • B.Sc. (Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Animal Science, Food Technology, Bio-Technology, Fisheries, Sericulture, Home/Community Sciences, Food Nutrition and Dietetics)
  • B.Pharma.
  • M.Pharma.
  • Pharma.D.
  • D.Pharma.

Arivu Education Loan Scheme – Loan Limits and Interest Rate 

The scheme offers varying maximum loan amounts depending on the course. Please refer to the table below for specific details on the loan limits:

Courses  Loan Limits (per year)
M.B.B.S., M.D., M.S. Up to INR 3 lakh
B.D.S., M.D.S.  Up to INR 1 lakh
Bachelor of Architecture/Engineering/Technology (B.Arch/BE/B.Tech), M.Tech, M.E., M.Arch. Up to INR 50,000 
M.B.A., M.C.A., and L.L.B. through KEA  Tuition fee loan of INR 50,000 
B.Sc. in Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Animal Science, Food Technology, Bio-Technology, Fisheries, Sericulture, Home/Community Sciences, Food Nutrition and Dietetics Up to INR 50,000 
B.Pharma., M.Pharma., Pharma.D., and D.Pharma.   Up to INR 50,000 
B.Ayush. and M.Ayush.  Up to INR 50,000 

It is essential for all eligible students applying for the scheme to be aware of the applicable interest rates.  

  • The Arivu education loan carries a yearly interest rate of 2%.
  • Furthermore, students are required to commence loan repayment within 1 year of completing their course. 
  • To renew their loan, students must pay 12% of the previous year’s loan amount at their respective District Office.

Arivu Education Loan Scheme – Documents Required

To apply for this loan scheme, students need to submit the following documents with the application form:  

1. Caste certificate 

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2. Income certificate 

3. Aadhaar card

4. Two recent passport-size photographs

5. Online application form for student

6. Letter of CET admission 

7. Letter of NEET Admission 

8. SSLC certificate/Class 10 marksheet    

9. Pre-university course marks card/Diploma certificate 

10. Indemnity bond by the parents and student 

Indemnity bond by the parents and student 1Indemnity bond by the parents and student 2 

11. College bank details 

12. Bonafide certificate/study certificate  

13. Self-declaration form by student  

Self-declaration form by student 1Self-declaration form by student 2

14. Self-declaration form by parents 

Self-declaration form by parents 1Self-declaration form by parents 2

15. Fee structure of college  

Note: Applicants need to fill in all the important details mentioned in the above images. The declaration forms and bonds are available in English and Kannada language.    

Arivu Education Loan Scheme – How to Apply?

1. Visit the official website: kmdconline.karnataka.gov.in

Arivu Education Loan Scheme Apply Online

2. Scroll down and click on the link that reads ‘Arivu Education Loan Scheme.’

Arivu Education Loan Scheme

3. Click on the ‘Apply Online’ button.

Arivu Education Loan Scheme - Apply Online

4. Now, click on the ‘Apply New’ button.

Arivu Education Loan Scheme - Apply New

5. Enter the mobile number and OTP.

6. Enter the Aadhaar number, captcha text, and click on the ‘Next’ button.

Arivu Education Loan Scheme - Digi

7. Fill in the important details in the application form.

8. Click on the ‘Save the Application’ tab and download the form.

9. Attach the supporting documents. 

10. Create a combined file (hardcopy) consisting of the application form and documents. 

11. Submit the file to the KMDC office.

Important Links 

  1. Apply Online Link
  2. Download the Indemnity Bond
  3. Download the self declaration form for students
  4. Download the self declaration form for parents
  5. Link for Official website

Contact Details of Karnataka Minorities Development Corporation 

Email ID – mwdhelpline@karnataka.gov.in

Phone Number – 8277799990 
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Arivu Education Loan Scheme – FAQs

Q. What is the last date for the Arivu Education Loan Scheme?

Ans. The last date to apply for the Arivu Loan Scheme is July 10, 2023. 

Q. Who is eligible for the Arivu Education Loan Scheme?

Ans. The scheme is open to students belonging to the religious minority communities in Karnataka. The annual family income of the applicants should not exceed INR 8 lakh.

Q. What amount is offered under the Arivu Loan Scheme?

Ans. The eligible candidates have the opportunity to apply for a loan ranging from INR 50,000 to INR 3 lakh per year under the scheme. Additionally, the loan amount varies based on the specific educational courses.

Q. What is the interest rate of the Arivu Loan Scheme?

Ans. The annual interest rate for the Arivu Loan Scheme is 2%.

Q. Who offers the Arivu Loan Scheme?

Ans. The Karnataka Minorities Development Corporation (KMDC) offers this scheme to students from religious minority communities in the state. 

Q. Which communities can apply for the Arivu Loan Scheme?

Ans. Students belonging to religious minority communities in Karnataka – Muslims, Christians, Buddhists, Jains, Sikhs, and Parsis – can apply for the scheme.  

Q. What are the repayment conditions for the Arivu Loan Scheme?

Ans. Students must start repaying their loans one year after completing their courses and must finish repaying them within six months, as required by the scheme.


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