Kerala NMDFC Education Loan Scheme Offers up to INR 30 Lakh Credit to Minorities

Kerala NMDFC Education Loan Scheme  – The National Minorities Development & Finance Corporation (NMDFC) is providing education loans to students from minority communities in Kerala. This loan scheme offers financial assistance of up to INR 20 lakh for studying in India and up to INR 30 lakh for pursuing education abroad, with nominal interest rates.

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The loan is offered under 2 credit lines depending on the annual income of the students. Under Credit Line-1, students with an annual family income of less than INR 98,000 in rural areas or INR 1.2 lakh in urban areas are eligible for the Kerala NMDFC Education Loan Scheme. The maximum annual family income limit is INR 8 lakh for students qualifying under Credit Line-2.

The interest rate for this education loan is 3% per annum for Credit Line-1 and 8% per annum for Credit Line-2. Additionally, female beneficiaries under Credit Line-2 are eligible for a 3% interest rate concession.

The scheme offers loan for job-oriented ‘technical and professional courses’ with a maximum duration of 5 years. The program is designed to provide benefits to students from minority communities, including Muslims, Sikhs, Buddhists, Christians, and Parsis, who are residing in the southern state.

This article covers all aspects of the NMDFC Education Loan Scheme, including eligibility criteria, required documents, maximum loan amount, repayment terms, interest rate, application process, State Channelizing Agencies (SCAs) in Kerala, and other important information.

According to the official website of NMDFC, a cumulative fund of INR 422.92 crore has been allocated under the Education Loan Scheme nationwide from its inception until March 16, 2023. This substantial fund has successfully supported around 42,583 beneficiaries in fulfilling their educational aspirations.

Kerala NMDFC Education Loan Scheme – General Overview

Name of Scheme NMDFC Education Loan Scheme, Kerala
Provider  National Minorities Development and Finance Corporation (NMDFC)
State Kerala 
Official Website
Beneficiaries  Students belonging to minority communities in Kerala
Age Limit  16 to 32 years of age 
Loan Amount  INR 20 lakh to INR 30 lakh
Loan Repayment Time Within 5 years 
Moratorium Period  6 months after course completion or getting a job, whichever is less
Interest Rate  Credit Line-1  – 3%  

Credit Line-2 – 8 % (for males) | 5% (for females)

Application Mode Online/offline 

Kerala NMDFC Education Loan Scheme – Eligibility Criteria

To apply for NMDFC education loan students need to follow the below-mentioned eligibility criteria. 

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  • Applicants must be citizens of India with a domicile in Kerala. 
  • Students must be between the age group of 16 to 32 years.
  • Candidates must belong to religious minority communities including Muslims, Christians, Sikhs, Buddhists, and Parsis residing in Kerala.
  • Students must have cleared previous qualifying examinations.
  • Applicants must have secured admission in a job-oriented technical and professional course with a duration not exceeding 5 years.
  • The applicants must fulfil the annual family income criteria mentioned below: 
    • For Credit Line-1: The annual family income of Credit line-1 students must be less than INR 98,000 for rural areas and INR 1.2 lakh for urban areas.
    • For Credit Line-2: The annual family income for students belonging to Credit line-2 must be less than INR 8 lakh for both the urban and rural areas.

Kerala NMDFC Education Loan Scheme – Interest Rate 

The interest rates for the scheme differ based on the student’s gender and the specific credit lines.

  • For Credit Line-1: The interest rate of 3% will be applied for both male and female candidates. 
  • For Credit Line-2: The interest rate of 8% will be applicable for male candidates and 5% for female candidates.
Note – A concession of 3% is extended to women beneficiaries under credit line-2.  

Kerala NMDFC Education Loan Scheme – Repayment Period

The repayment duration for the NMDFC Education Loan Scheme is determined by the terms and conditions agreed upon by the students. However, the standard repayment period is set at 60 months, equivalent to 5 years. This time frame allows students to find a secure job and start repaying their loans without experiencing undue financial strain.

Kerala NMDFC Education Loan Scheme- Documents Required 

To complete the application process, students are required to submit the following documents to the Kerala State Minorities Development Finance Corporation (KSMDFC), the designated State Channelising Agency (SCA):

  • Self Attested Income Certificate
  • Self Attested Residence Proof (Aadhaar Card/Ration Card/Voter ID/Passport/Phone/Bill/Electricity Bill etc.)
  • Self Attested Religious Certificate
  • Self Attested Marksheet of previous year
  • Two photographs of applicant
  • Two photographs of parents/co-obligant/guarantor
Important Note: 

  • The students are required to submit the hard copy of documents along with the application form to the State Channelising Agency (SCA).

Kerala NMDFC Education Loan Scheme – Application Process

To apply for the scheme, eligible students can follow the steps outlined below.

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1. Visit the official website at 

Kerala NMDFC Education Loan Scheme - Application Process

2. Scroll down and click on the ‘Find Schemes For You’ button.

Kerala NMDFC Education Loan Scheme - Find Schemes For You

3. Click on the ‘Loan Type’ option and select ‘Education Loan’. Then, click on ‘Select State/UT’ and choose ‘Kerala’ from the available options.

Kerala NMDFC Education Loan Scheme - Education Loan

4. Scroll down and locate the option labelled ‘Download Loan Application Form’. Click on it to save the application form.

5. After successfully downloading the application form, fill in all the required details and attach the supporting documents.

6. Create a combined file (hardcopy) of the application form along with the supporting documents and submit it to the State Channelizing Agency (SCA), which is the Kerala State Minorities Development Finance Corporation (KSMDFC). 

Kerala NMDFC Education Loan Scheme- SCA Contact Details 

1. Kerala State Backward Classes Development Corporation

Address – TC No.27/588(7) & (8) “SENTINEL” 2nd Floor, Pattoor, Vanchiyoor P.O. Thiruvananthapuram – 695 035, Kerala

Phone number – (0471) -2577550/2577539/2577540

2. Kerala State Women’s Development Corporation

Address – T.C.24/3279, Basanth, Opposite Manmohan Bungalow, Kowdiar P.O. Thiruvananthapuram – 695 003, Kerala

Phone number – (0471) -2727668

3. Kerala State Cooperative Federation for Fisheries Development

Address – Kamaleswaran, Manacaud P.O. Thiruvananthapuram – 695 009, Kerala

Phone number – (0471) – 2457172/2457756/2458606

4. Kerala State Minorities Development Finance Corporation

Address – 1/1170 A Ground Floor, KURDFC Building, Chakkorathkulam, 

West Hill P.O., Calicut – 673 005, Kerala

Phone number – (0495) -2369366 

Kerala NMDFC Education Loan Scheme – FAQs

What expenses are covered under the Kerala NMDFC Education Loan Scheme?

The NMDFC scheme covers various expenses, including admission/tuition fees, costs of books and stationery, examination fees, boarding or lodging expenses, as well as expenses related to instruments required for the course.

What is the maximum amount available under the Kerala NMDFC Education Loan Scheme?

Students can apply for a maximum loan of INR 30 lakh under the scheme.

Who is eligible for the Kerala NMDFC Education Loan Scheme?

Students belonging to minority communities residing in Kerala can apply for the scheme.

How can I obtain the application form for the Kerala NMDFC Education Loan Scheme?

The application form for the scheme can be obtained from the official website of NMDFC. However, students can refer to the above article for the complete information related to the application process.

Which type of courses the Kerala NMDFC Education Loan Scheme covers?

The scheme covers technical and professional courses including diplomas/degrees courses with a maximum duration of 5 years. However, the course duration less than 5 years will also be eligible.

What is the maximum repayment period for the Kerala NMDFC Education Loan Scheme?

A student can repay the educational loan in a maximum period of 5 years.

Where can I submit my Kerala NMDFC Education Loan Scheme application form and documents?

The students need to submit the hard copy of their application form and self-attested documents to the Kerala State Minorities Development Finance Corporation (KSMDFC), the designated State Channelising Agency (SCA).

Which are the State Channelizing Agencies (SCAs) in Kerala?

The SCAs in Kerala consist of Kerala State Backward Classes Development Corporation, Kerala State Women’s Development Corporation, Kerala State Cooperative Federation for Fisheries Development, and Kerala State Minorities Development Finance Corporation.


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