kmdc.kar.nic.in Apply For Arivu Education Loan Scheme Karnataka : Minorities Development Corporation Ltd

Name of the organisation : Karnataka Minorities Development Corporation Ltd
Type Of Facility : Apply For Arivu Education Loan Scheme
Applicable State : Karnataka
Home Page :https://aryavysya.karnataka.gov.in/Login
Apply here :https://www.statusin.in/uploads/538-Arivu-Form.pdf
For CET : https://www.statusin.in/uploads/538-cetARIVUCET_Form.pdf

How To Apply For KMDC Arivu Education Loan Scheme?

Under the KMDC Arivu Education Loan Scheme, minority students who are desirous of pursuing professional courses like Medical, Engineering, Dental, Master Degree Courses, Diploma Courses, Nursing, B.Ed, BBM, BCA, D.Ed, and ITI are provided financial Assistance from Rs.5,000/- to Rs.50,000/- per year till the completion of the course as loan. The loan has to be repaid by the beneficiary after one year of completion of the course AT 2% Service charge.

Related / Similar Service :
KMDC Apply For NMDFC Scheme

Application Form :Go to the Official website,click on the Arivu Application form You are required to download the application form and fill all the details.

Follow the below steps to fill the application form.

Step 1 : Affix your Passport size photo
Step 2 : Enter your district

Step 3 : Enter Name of the Student/ Candidate
Step 4 : Enter Name of the Father/ Husband/ Guardian
Step 5 : Select sex (Put a tick Mark)
Step 6 : Enter your Age & DOB
Step 7 : Enter your Place of Birth
Step 8 : Enter your Religion
Step 9 : Enter Annual Income (Rs)
Step 10 : Select Marital Status. Continue to fill the application form

Declaration by Parent/ Guardian :
1) My Family income does not exceed Rs.4.5 lakh per annum
2) 10% of loan amount with service charges disbursed by the corporation should be paid before seeking the further releases.
3) The loan amount along with the service charges will be repaid by us per schedule

KMDC Arivu Scheme For CET Students

Under this scheme, minority students As per government order No.MWD/03/MDC/201, Bangalore dated 17.01.2014, the Karnataka Minorities Development Corporation Ltd., (KMDC) has entered into a Memorandum of Understanding (MOU) with Karnataka Examination Authority, Bangalore. Accordingly, applications as per the prescribed format issued under KEA Brochure, are invited from the candidates belonging to religious minorities viz.,Muslim, Christian, Jain, Building, Buddhist, Sikh and Parsi communities who are appearing for Common Entrance Test (CET) which will be conducted by Karnataka Examination Authority (KEA) for various Professional Courses, for sanction of education loan from the Corporation under its ‘ARIVU’ (Education Loan) Scheme as per the fee prescribed by the KEA/Government of Karnataka. Click here for more information

Surety’s Affidavit :
We fully abide by the rules and regulations prevailing and also that may be changed and in force in the due course of time. We assure you that If any incident occurs which amounts to breach of contract or condition, in that event we are fully responsible for the repayment of entire amount of loan along with interest in a single instalment within 15 days from the date of receipt of the intimation letter from the Karnataka Minorities Development Corporation.

About Us:

The Minority population as per 2011 census is about 96,00,475 which forms 15.92% of the total population of Karnataka. The people belonging to Muslim, Christian, Sikh, Jain and Parsis Buddists communities comes under Minority Community.

Karnataka Minorities Development Corporation was established in the year 1986 with an objective of improving the status of Minority Community Socially Economically and Educationally.

The Corporation has been implementing the following schemes by utilising the share capital and grants released by the State Government, from time to time.

Contact Us :
Karnataka Minorities Development Corporation Ltd
‘Vishveswarayya Centre’, 12th Floor,
Main Tower, Dr. B. R. Ambedkar Veedi,
Bangalore – 560 001.

FAQ On KMDC Arivu Scheme

Frequently Asked Questions  FAQ On KMDC Arivu Scheme

1. I am an engineering student. I hope to apply for Arivu education Loan. So I am asking what is the last date of this scheme?
There is last date to apply for this scheme. You can apply any time. You just need to go near by minority office.

2. What is the procedure for applying loan for next academic year?
Take the previous loan details from your college a/c managements or clerk office and take the fee structure and the previous year marks cards and you have to pay the some % of your previous loan. Take attested on marks card photocopy.

3. Can I apply kmdc loan in this month?
Loan form is available in the above pdf.

4. I have finished B.E 2nd sem exam. My results have been announced. How and when can I renew the loan?
You have to Pay 10% of your loan amount which you have got in 1st yr for renewal at kmdc Office of your district

5. Can we get loan for M Tech or not?
Applicants whose total family income does not exceed Rs.22000/ (Rupees twenty Two Thousand Only) shall be eligible for loan under the scheme.

Some Important Information From Comments

Comments:
1. I am from Yadgir district. I am Studying in KCT Engineering College Gulbarga. I have applied for KMDC educational loan in last year September but, still my loan is pending. Can you suggest me, how to check sanctioned loan list? Whether my loan get sanctioned (or) not? How to know the status of loan sanction?

2. Can anyone who have applied for Loan second time help me by giving the procedure of loan and I want to know whether directly KMDC will pay the amount to particular college (or) first we have to pay and when KMDC sanctions the amount then, we can get the amount paid in the college. I also want to know whether we have to repay the loan once in a year (or) we can repay it after our studies. Please help me, I am new in this field.

Error / Problem:
1. I am not able to upload my college name as it does not exist. I have given all the documents to the nearest government office. They have scanned and uploaded but, the rest of the work is not done by the required person.Please help me to resolve my problem to get loan sanctioned.

Benefits of Arivu Education Loan Scheme

The Arivu Education Loan Scheme is a government scheme launched by the state of Karnataka to provide education loans at subsidized interest rates to economically weaker sections of the society. Some benefits of this scheme are:

Access To Education:
The Arivu Education Loan Scheme enables financially weak students to access higher education and acquire the necessary skills for employment and personal development.

Low Interest Rates:
The scheme provides loans at subsidized interest rates, making it more affordable for students from economically weaker sections of the society.

Loan Amount:
The loan amount provided under the scheme can be up to Rs. 10 lakhs for studies in India and up to Rs. 20 lakhs for studies abroad, providing financial support for pursuing higher education.

Additional Simplified Procedure

To apply for the KMDC Arivu Education Loan Scheme, you can follow these steps:
1) Go to the KMDC website: https://kmdconline.karnataka.gov.in/
2) Click on the “Education Loan” tab.
3) Select the “Arivu Education Loan” option.
4) You will be redirected to a new page where you can fill out the application form.
5) Enter your personal details, such as your name, date of birth, and contact information.
6) Enter the details of your education, such as the course that you want to study, the institution that you want to study at, and the fees of the course.
7) Upload your scanned copies of the relevant documents, such as your Aadhaar card, your passport-size photograph, your caste and income certificate, and your mark sheets.
8) Pay the application fee online.
9) Click on the “Submit” button.

You will receive an acknowledgement number after your application is submitted. You can track the status of your application by entering the acknowledgement number on the KMDC website.

The application fee for the KMDC Arivu Education Loan Scheme is Rs. 500/-. The processing time for the KMDC Arivu Education Loan Scheme is usually 30 days.

Once your application is processed, you will be notified of the status of your application. If your application is approved, you will be issued an education loan.

Here are some of the eligibility criteria for the KMDC Arivu Education Loan Scheme:
1) You must be a resident of Karnataka.
2) You must be a student of a recognized educational institution in Karnataka.
3) You must be studying a full-time course of study.
4) You must have a valid Aadhaar card.
5) Your family income must be less than Rs. 8 lakhs per annum.

Here are some of the documents that you need to apply for the KMDC Arivu Education Loan Scheme:
1) A copy of your Aadhaar card
2) A copy of your passport-size photograph
3) A copy of your caste and income certificate
4) A copy of your mark sheets
5) A copy of the prospectus of the educational institution that you want to study at
6) A copy of the letter of admission from the educational institution that you want to study at

If you are eligible for the KMDC Arivu Education Loan Scheme, you can apply for a loan of up to Rs. 3 lakhs. The interest rate on the loan is 6% per annum. The repayment period for the loan is 10 years.