The National Minorities Development and Finance Corporation (NMDFC) offers low-interest education loans to students from minority communities in Jharkhand Students who wish to participate in technical and professional courses and who are residents of Jharkhand are eligible to apply for an education loan under Jharkhand NMDFC Education Loan for Minority Students In this article you get every information regarding this scheme such as benefits, objective, eligibility criteria, necessary documents and apply procedure.
Jharkhand Education Loan for Minority 2024
Jharkhand NMDFC Education Loan for Minority Students is available from the National Minorities Development and Finance Corporation at the minimal interest rate. Candidates wishing to apply for the plan must make less than Rs. 1.20 lakh or Rs. 98,000 in rural regions per year for their family. For credit lines 1 and 2 the interest rates on school loans will be 3% and 8%, respectively.
A 3% interest rate reduction will be granted under credit line 2 to female candidates who wish to apply under the Jharkhand NMDFC Education Loan for Minority Students 2024. The advantages of the initiative are open to candidates from any minority community, including Sikh, Muslim, Christian, Jain, Buddhist and Parsi. Students have five years to repay their educational loans.
Overview of Jharkhand Education Loan for Minority 2024
| Name of Scheme | Jharkhand Education Loan for Minority 2024 |
| Launched by | National Minorities Development and Finance Corporation |
| Beneficiary | Students belongs to minority |
| Objective | Jharkhandi students enrolled in professional or technical studies |
| Amount | Rs.20 Lakh and Rs.30 Lakh |
| Loan Interest rate | 3% and 8% |
| Application Mode | Online |
| Official Website | https://nmdfc.org/ |
Objective of Jharkhand Education Loan for Minority 2024
The main objective of this scheme is to increase the education loan limit for deserving students who wish to enrol in technical and professional courses in India or overseas but are unable to do so because of their financial situation or the high cost of their education. All minority students will find comfort in this education loan, which gives them five years to settle the loan balance once they graduate.
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Benefits of Jharkhand Education Loan for Minority 2024
The benefits of this scheme is given below:
- Students who completed their studies in Indian universities or other institutions would receive Rs. 20 lakh, while those who pursued their education overseas will receive Rs. 30 lakh.
- Students at Indian institutions pursuing professional or technical degrees would receive Rs. 4 lakh annually.
- Indian university students enrolled in technical or professional courses would get Rs. 6 lakh annually for a period of five years.
- All minority students will find comfort in this education loan, which gives them five years to settle the loan balance once they graduate.
Eligibility Criteria
The eligibility criteria of this scheme is given below:
- The applicant must be a resident of Jharkhand.
- The scholarship is open to candidates from any minority group including Sikh, Muslim, Christian, Jain, Buddhist and Parsi.
- Students who wish to participate in technical and professional courses and who are residents of Jharkhand are eligible to apply for an education loan under this program.
- Candidates wishing to apply under the plan must have an annual family income for credit line 1 of less than Rs. 1.20 lakh in urban areas or less than Rs. 98,000 in rural regions.
Interest Rate under Jharkhand Education Loan for Minority 2024
For Credit Line-1
The interest rate for credit line-1 college loans would be 3% in Jharkhand.
For Credit Line-2
The interest rate on college loans will be 8% for credit line-2.
- Female applicants would receive a 3% interest rate reduction under credit line 2 for this scheme.
Application Procedure for Jharkhand Education Loan for Minority 2024
- First you have to visit the Official Website of the NMDFC portal.
- The homepage will appear on your screen.
- Click on the Find scheme for you option.
- A new page will appear on your screen.
- You have to select the education loan option and state/UT.
- Click on the Download Application Form option.
- The application will be downloaded on your device.
- Enter all the necessary details in the form.
- You have to attach all the necessary documents.
- The application form should now be sent to the Jharkhand State Minorities Development Finance Corporation (JSMDFC), which is the State Channelizing Agency (SCA).