Educational Loan Scheme (GBCDC)

The scheme "Educational Loan Scheme" is implemented by the Gujarat Backward Classes Development Corporation (GBCDC) under the Social Justice and Empowerment Department, Government of Gujarat. The scheme aims to provide financial support for higher technical and professional education to students belonging to belonging to socially and educationally backward classes. Under this scheme, loans are provided at concessional interest rates to eligible students pursuing approved graduate and postgraduate professional & technical courses in fields such as engineering, medical, MBA, MCA, etc.

1. The maximum loan limit under this scheme is up to ₹ 15,00,000/-.
2. The interest rate:

• 4% per annum for male students.
• 3.5% per annum for female students.

1. Loan Contribution Breakdown:

• 90% by the National Corporation.
• 5% by the State Government.
• 5% by the beneficiary.

1. The loan amount will include the following:

• Admission fees and tuition fees
• Accommodation and food expenses

Validity: This loan is to be repaid in 60 equal monthly instalments, including interest. The loan must be repaid within 6 months of completing the course or 1 month after getting a job, whichever is earlier.

1. The applicant must be a resident of Gujarat.
2. The applicant should belong to a socially and educationally backward class.
3. The total annual family income should not exceed ₹3,00,000/-.
4. The student must have secured admission through a recognized entrance examination conducted by the Central or State Government, or through a selection process, with at least 50% marks in Class 12 or the qualifying examination.
5. The applicant should have secured admission in a recognized institution for one of the following courses:

• MBA or its equivalent (recognized by AICTE)
• Master of Computer Applications (MCA) or its equivalent (recognized by AICTE)
• Graduate-level engineering courses conducted by IITs or other institutions (recognized by AICTE)
• Medical or allied education such as Ayurvedic, Homeopathy, Unani, etc., from institutions recognized by the Medical Council of India
• Diploma course in Hospitality Management recognized by the National Council of Hotel Management

Note: Priority will be given to applicants whose family income is up to ₹1,50,000/- per annum.

1. The applicant admitted under the management quota is not eligible.
2. The applicant with ATKT (Allowed to Keep Terms) or those who have failed in the previous semester will not be paid the fee for the second semester.
3. The loan amount will be sanctioned after deducting the amount received under the Mukhyamantri Yuva Swavalamban Yojana.

Online

Step 1: Visit the official website of the Gujarat Backwards Caste Development Corporation.
Step 2: On the top menu bar, click on "Apply Online".
Step 3: If you’re a new user, click on "New Registration" Enter personal details (name, mobile number, email, aadhaar number, etc.), create a password, and complete OTP verification.
Step 4: Use your registered credentials (User ID and password) to log in.
Step 5: Click on “New Application”. Select “Educational Loan Scheme” from the list of available schemes.
Step 6: Fill out the Application Form, enter the following details:

• Personal Information: Name, gender, date of birth, caste, etc.- Address Information: Permanent and correspondence address- Income Details: Monthly family income and source- Loan Requirement: Amount needed, proposed use (e.g., business, self-employment)- Bank Account Details: For loan disbursement
  Step 7: Upload scanned copies of the Caste certificate, Income certificate, Aadhaar card, Passport-size photo, Bank passbook (first page), and Residence proof.
  Step 8: Double-check all details. Click on “Preview” to verify. If all details are correct, click “Submit”.
  Step 9: The Applicant will receive an Application ID/Reference Number. Save or print the acknowledgement for future tracking.