Education Loan Scheme of NMDFC

About This Scheme

Benefits

Eligibility

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  a) The applicant must be Indian and belong to one of the six notified minority communities (Muslim, Christian, Sikh, Buddhist, Parsi, Jain).
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  b) The annual family income limit is:
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  Up to Rs. 3.00 lakh per annum under Credit Line-1.
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  Up to Rs. 8.00 lakh per annum under Credit Line–2.
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  c) The applicant must have secured admission to a recognized institution in India or abroad through a merit-based selection or entrance test.
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  d) The course must be technical or professional, with a duration not exceeding 5 years.
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  e) The applicant must not have availed financial support for the same course under any other Government scheme.
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  f) The loan is admissible for tuition fees, hostel charges, books, equipment, and travel (for abroad studies).
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  g) The applicant must have a co-borrower (parent/guardian) with a verified income certificate.
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  h) Preference shall be given to female students and candidates from economically weaker sections.

Required Documents

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  Duly filled Education Loan Application Form.
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  Photographs of student and co-borrower (parent/guardian).
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  Proof of Minority Status (certificate or self-declaration).
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  Income Certificate of the family issued by competent authority.
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  Proof of Residence: Aadhaar card, voter ID, ration card, or utility bill.
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  Admission Letter from recognized college/university in India or abroad.
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  Fee Structure or estimate from the educational institution.
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  Mark Sheets/Certificates of qualifying examinations (Class X, XII, Graduation, etc.).
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  Bank Account Proof: Aadhaar-linked bank passbook copy.
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  Valid Passport and Visa (for studies abroad).
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  Proof of age (DOB Certificate/10th Certificate).
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  Affidavit/Undertaking confirming that no other education loan has been availed under a government scheme.
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  PAN Card of student and co-borrower.

✦ Required ◦ Optional

How to Apply