Sarkari Yojana
Education Loan Scheme of NMDFC
About Education Loan Scheme of NMDFC
Under this NMDFC scheme, loans are available for job-oriented ‘technical and professional courses’ lasting no more than five years. Beneficiaries from minority communities can borrow up to ₹20,00,000/- for courses in India and ₹30,00,000/- for courses abroad, under Credit Line-1 and Credit Line-2, at 3% p.a. and 8% p.a. respectively. Women beneficiaries under Credit Line-2 also get a 3% concession.
Scheme Overview
Central Government
Ministry Of Minority Affairs
National Minorities Development & Finance Corporation
Scheme Details
Eligibility Requirements
To qualify for Education Loan Scheme of NMDFC, applicants must satisfy the following conditions:
The applicant must be an Indian belonging to…
The applicant must be an Indian belonging to one of the six notified minority communities (Muslim, Christian, Sikh, Buddhist, Parsi, Jain).
The annual family income limit is
The annual family income limit is: Up to Rs. 3.00 lakh per annum under Credit Line-1. Up to Rs. 8.00 lakh per annum under Credit Line–2.
The applicant must have secured admission to a…
The applicant must have secured admission to a recognized institution in India or abroad, through a merit-based selection or entrance test.
The course must be technical or professional, running…
The course must be technical or professional, running no more than 5 years.
The applicant must not have already received financial…
The applicant must not have already received financial support for the same course under any other Government scheme.
The loan can be used toward tuition fees,…
The loan can be used toward tuition fees, hostel charges, books, equipment, and travel (for study abroad).
The applicant must have a co-borrower (parent/guardian) with…
The applicant must have a co-borrower (parent/guardian) with a verified income certificate.
Preference is given to female students and candidates…
Preference is given to female students and candidates from economically weaker sections.
Benefits Provided
Education Loan Scheme of NMDFC provides the following benefits to eligible applicants:
Concessional credit for beneficiaries from minority communities
Concessional credit for beneficiaries from minority communities.
Documents Required
Applicants should keep the following documents ready before starting the application:
The Education Loan Application Form, completely filled in
The Education Loan Application Form, completely filled in.
Photos of both the student and the co-borrower…
Photos of both the student and the co-borrower (parent/guardian).
Evidence of belonging to a minority community (certificate…
Evidence of belonging to a minority community (certificate or self-declaration).
A family Income Certificate obtained from the competent…
A family Income Certificate obtained from the competent authority.
Any one document showing the place of residence
Any one document showing the place of residence: Aadhaar card, voter ID, ration card, or utility bill.
The letter of admission from a recognized college/university…
The letter of admission from a recognized college/university in India or abroad.
The fee structure, or a cost estimate, provided…
The fee structure, or a cost estimate, provided by the educational institution.
Mark Sheets/Certificates for the qualifying examinations passed (Class…
Mark Sheets/Certificates for the qualifying examinations passed (Class X, XII, Graduation, etc.).
Evidence of a bank account in the form…
Evidence of a bank account in the form of a copy of the Aadhaar-linked bank passbook.
A Passport and Visa that are valid (needed…
A Passport and Visa that are valid (needed for studies abroad).
A document establishing age (DOB Certificate/10th Certificate)
A document establishing age (DOB Certificate/10th Certificate).
An Affidavit/Undertaking declaring that the applicant has not…
An Affidavit/Undertaking declaring that the applicant has not taken any other education loan under a government scheme.
The PAN Card of the student as well…
The PAN Card of the student as well as of the co-borrower.
How to Apply
Offline Application
Applicants can apply for Education Loan Scheme of NMDFC through the offline application process outlined below.
Application Process
NMDFC runs its schemes & programs through State Channelizing Agencies, which are nominated by the State Governments concerned (SCA list: www.nmdfc.org/SCA ), and through Banking Partners on refinance mode (Presently through Canara Bank & Punjab Grameen Bank).
Exclusions / Who Is Not Eligible
- Other than Six Notified minority communities having annual family income of more than Rs. 3.00 Lakhs under credit line 1 and of more than Rs.8.00 Lakhs under credit line 2.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.