Educational Loan Scheme for Miniorities (Nmdfc Scheme)
(വിദ്യാഭ്യാസ ലോണിനുള്ള അപേക്ഷാ ഫോം)
The scheme is for individual beneficiaries. Under this scheme an amount up to 20 lakh are considered for financing for studying professional and job oriented degree courses of durations not exceeding 5 years. The maximum amount per year is limited to 3 lakhs per annum for courses in India and 4 lakhs per annum for courses abroad.
The maximum loan amount that can be disbursed under this scheme is limited to 95% of the cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs. 15 lakh for professional and job oriented degree courses in India and Rs. 20 Lakh for courses abroad.
Loan interest rate will be 3%.
Eligibility
Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
The applicant should not be a beneficiary under Educational Scheme of NMDFC or NBCFDC or other financial institutions.
Age of the beneficiary shall be between 16-32 years as on the date of application.
Confirmed admission in the intended course is the pre-requirement for availing the loan amount. Applications can be submitted in anticipation of the admission.
The admission of the candidate in the course shall be through a merit-cum-selection process.
Selection of beneficiary out of the eligible candidates will strictly be on merit and availability of fund from NMDFC..
The maximum loan amount that can be disbursed under this scheme is limited to 95% of the cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs. 15 lakh for professional and job oriented degree courses in India and Rs. 20 Lakh for courses abroad.
Loan interest rate will be 3%.
Eligibility
Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
The applicant should not be a beneficiary under Educational Scheme of NMDFC or NBCFDC or other financial institutions.
Age of the beneficiary shall be between 16-32 years as on the date of application.
Confirmed admission in the intended course is the pre-requirement for availing the loan amount. Applications can be submitted in anticipation of the admission.
The admission of the candidate in the course shall be through a merit-cum-selection process.
Selection of beneficiary out of the eligible candidates will strictly be on merit and availability of fund from NMDFC..
Download application form of Education loan
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