Education Loan Scheme of NMDFC
in Puducherry
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Education Loan Scheme of NMDFC in Puducherry
Education Loan Scheme of NMDFC is a government scheme available to eligible residents of Puducherry.
Apply for Education Loan Scheme of NMDFC in Puducherry
Scheme Overview
Loan of upto Rs. 20 lacs for domestic courses & Rs. 30 lacs for courses abroad under Credit Line-1 and Credit line -2 is extended to beneficiaries belong to minority communities at 3% p.a. & 8% p.a respectively.
Eligibility Criteria
a) The applicant must be Indian and belong to one of the six notified minority communities (Muslim, Christian, Sikh, Buddhist, Parsi, Jain).
b) 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.
c) The applicant must have secured admission to a recognized institution in India or abroad through a merit-based selection or entrance test.
d) The course must be technical or professional, with a duration not exceeding 5 years.
e) The applicant must not have availed financial support for the same course under any other Government scheme.
f) The loan is admissible for tuition fees, hostel charges, books, equipment, and travel (for abroad studies).
g) The applicant must have a co-borrower (parent/guardian) with a verified income certificate.
h) Preference shall be given to female students and candidates from economically weaker sections.
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Benefits
Concessional Credit to the beneficiaries among minority communities.
Required Documents
| # | Document |
|---|---|
| 1 | Duly filled Education Loan Application Form. |
| 2 | Photographs of student and co-borrower (parent/guardian). |
| 3 | Proof of Minority Status (certificate or self-declaration). |
| 4 | Income Certificate of the family issued by competent authority. |
| 5 | Proof of Residence: Aadhaar card, voter ID, ration card, or utility bill. |
| 6 | Admission Letter from recognized college/university in India or abroad. |
| 7 | Fee Structure or estimate from the educational institution. |
| 8 | Mark Sheets/Certificates of qualifying examinations (Class X, XII, Graduation, etc.). |
| 9 | Bank Account Proof: Aadhaar-linked bank passbook copy. |
| 10 | Valid Passport and Visa (for studies abroad). |
| 11 | Proof of age (DOB Certificate/10th Certificate). |
| 12 | Affidavit/Undertaking confirming that no other education loan has been availed under a government scheme. |
| 13 | PAN Card of student and co-borrower. |
How to Apply in Puducherry
NMDFC implements its schemes & programs through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA ) nominated by the respective State Governments & Banking Partners on refinance mode (Presently through Canara Bank & Punjab Grameen Bank).
Offline NMDFC implements its schemes & programs through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA ) nominated by the respective State Governments & Banking Partners on refinance mode (Presently through Canara Bank & Punjab Grameen Bank).
Common questions in Puducherry
Who can apply for Education Loan Scheme of NMDFC in Puducherry?
Eligible residents of Puducherry who meet the scheme’s overall criteria can apply for Education Loan Scheme of NMDFC. Refer to the eligibility section above for the complete checklist.
What documents are required for Education Loan Scheme of NMDFC in Puducherry?
Applicants in Puducherry typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The Education Loan Scheme aims to provide concessional credit to minority students for pursuing professional and technical courses in India and abroad to promote employability and skill development. <br>