Brief Description:

Kerala NMDFC Education Loan Scheme is a scheme initiated by the National Minorities Development & Finance Corporation (Kerala NMDFC Education Loan SchemeNMDFC) 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’Kerala NMDFC Education Loan Scheme with a maximum duration of 5 years.

Eligibility

The applicants are required to fulfill the followingKerala NMDFC Education Loan Scheme 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:
o For Credit Line-1: Less than INR 98,000 for rural areas and INR 1.2 lakh for urban areas
o 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

The 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

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

Apply here:

APPLICATION FORM