Kerala NMDFC Education Loan Scheme
Follow this page to get timely alerts on
- Latest announcement about this scholarship
- Updates on scholarship deadline extension
- Notification of scholarship result declaration
Add appropriate tags
About the Program Share
Share
Kerala NMDFC Education Loan Scheme is a scheme initiated by the National Minorities Development & Finance Corporation (NMDFC) to provide financial assistance to students from minority communities in Kerala. The religious minority community include Muslims, Sikhs, Buddhists, Christians, and Parsis. The scheme offers loans to students pursuing job-oriented ‘technical and professional courses’ with a maximum duration of 5 years.
Under this scheme, the students will receive funding of up to INR 20 lakh for studying in India and up to INR 30 lakh for pursuing education abroad, with nominal interest rates.
The loan will be offered under 2 credit lines depending on the annual income of the students. 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.
Kerala NMDFC Education Loan Scheme
DeadlineAlways Open Eligibility The applicants are required to fulfill the following eligibility criteria:
- Applicants must be Indian citizens 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 examination.
- Applicants must have secured admission in a job-oriented technical and professional course with a duration not exceeding 5 years.
- Students must fulfil the annual family income criteria mentioned below:
- For Credit Line-1: Less than INR 98,000 for rural areas and INR 1.2 lakh for urban areas
- For Credit Line-2: Less than INR 8 lakh for both the urban and rural areas
Benefits: Candidates will receive funding of up to INR 20 lakh for studying in India and up to INR 30 lakh for pursuing education abroad at nominal interest rates.
The interest rates for the scheme differ based on the candidates’ 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.
Documents - 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
Note: The students are required to submit the hard copy of documents along with the application form to the State Channelising Agency (SCA).How can you apply? The students can apply for the education loan by following the below-mentioned steps:
Step 1: Visit the official website.
Step 2: Scroll down and click on the ‘Find Schemes For You’ button.
Step 3: Click on the ‘Loan Type’ option and select ‘Education Loan’. Then, click on ‘Select State/UT’ and choose ‘Kerala’ from the available options.
Step 4: Scroll down and locate the option labelled ‘Download Loan Application Form’. Click on it to save the application form.
Step 5: After successfully downloading the application form, fill in all the required details and attach the supporting documents.
Step 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).
Previous Year Scholarships And Results
Frequently Asked Questions
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 education loan 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.
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) and the designated State Channelising Agency (SCA).
Contact
In case of any queries, please reach out to:
(0471) 2577539 (Monday to Friday - 10:00AM to 06:00 PM (IST))ksbcdc@gmail.com
Disclaimer
1. Source of Information: Buddy4Study app compiles details on scholarships/fellowships from government websites and private scholarship sources. Links to the official sources accompany each listing detail pages.
2. Non-affiliation: The Buddy4Study app is not associated with any government entity in India or elsewhere. When featuring government scholarships, we rely on publicly accessible information from central and state government websites in India.
Featured Scholarships
Education Loan
Disclaimer
All the information provided here is for reference purpose only. While we strive to list all scholarships for benefit of students, Buddy4Study does not guarantee the accuracy of the data published here. For official information, please refer to the official website. read more
