EduLoan
Educational Loan Scheme
U
States / UT: Rajasthan
Ministry / nodal: Minorities Affairs Department
Department: Rajasthan Minority Finance and Development Co-operative Corporation Limited
Nodal department: Rajasthan Minority Finance and Development Co-operative Corporation Limited
Scheme for: Individual
Scheme profile
DBT (direct benefit transfer): No
Target beneficiaries: Minorities, Students
Tags: Education, Loans, Minorities, Vocational Training, Technical Courses, Financial Aid, Youth, Employment, Rajasthan, Government Scheme, Student Loans, Income Support
Details
Under this scheme, loans are provided to youth from minority communities for pursuing employment-oriented vocational and technical courses recognized by the state or central government or any of its agencies.
Benefits
- - Maximum loan amount of up to ₹20lakh for vocational and employment-oriented degree courses in India at a rate of ₹4lakh per year for a maximum duration of 5 years
- Maximum loan amount of up to ₹30lakh for courses abroad at a rate of ₹6lakh per year for a maximum duration of 5 years
- Interest rate of 3% per annum for applicants under Credit Line 1, 8% per annum for male beneficiaries under Credit Line 2, and 5% per annum for female beneficiaries under Credit Line 2
- Maximum loan amount of up to ₹20 lakh for vocational and employment-oriented degree courses in India at a rate of ₹4 lakh per year for a maximum duration of 5 years.
- Maximum loan amount of up to ₹30 lakh for courses abroad at a rate of ₹6 lakh per year for a maximum duration of 5 years.
- Interest rate of 3% per annum for applicants under Credit Line 1, 8% per annum for male beneficiaries under Credit Line 2, and 5% per annum for female beneficiaries under Credit Line 2.
Eligibility
Applicants from minority communities aged between 16 to 32 years with an annual family income of less than ₹6 lakh.
- Credit Line 1: Applicants with a total family income of less than ₹98,000 in rural areas and ₹120,000 in urban areas.
- Credit Line 2: Applicants with a total family annual income of up to ₹600,000.
Application Process
Online
Applications can be uploaded online on the corporation's website: rmfdcc.com.
- Required documents include:
- Caste Certificate Copy
- Aadhar Card Copy
- Address Proof Copy
- Bank Passbook Copy
- Income Certificate Copy
- PAN Card Copy
- Education Qualification Marksheet/Certificate Copy
- Jan Aadhar/Bhamashah Card Copy
- Other Documents as needed.
Documents Required
No document list is available for this scheme yet.
Official links
References
Apply
Apply nowOpens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.
Documents Required for Government Schemes
Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:
- Aadhaar Card
- Income Certificate
- Caste Certificate (if applicable)
- Residence Proof
- Bank Account Details
- Educational Certificates (for student schemes)
How to Apply for Government Schemes?
The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:
- Check eligibility criteria
- Collect required documents
- Fill the application form
- Submit the application online or at the relevant office
- Track application status