Educational Loan Scheme (GMFDC)
State: Gujarat
Ministry: null
Department: Social Justice and Empowerment Department
Category: Education & Learning
Beneficiary Type: Individual

The scheme aims to provide financial assistance for technical and non-technical education that creates employment or job opportunities for beneficiaries. Through this scheme, loans are provided to eligible students from minority communities for studies within India and abroad.

Benefits:
1. For studies within India, a maximum loan of ₹1,50,000/- per year and up to ₹7,50,000/- for a five-year course can be obtained.
1. For medical courses within India, ₹2,50,000/- for 1 year and ₹12,50,000/- for 5 years can be obtained.
1. For abroad studies, a maximum loan of ₹3,00,000/- for 1 year and ₹15,00,000/- for 5 years is provided.
1. The annual interest rate on this loan is 3%.

**Note 1:** If the applicant’s annual family income is up to ₹98,000 in rural areas or ₹1,20,000 in urban areas, the loan is provided at a concessional interest rate of 3% per annum.
**Note 2:** According to the National Corporation&#39;s Credit Line-2, for families with an income of ₹1,20,000/- up to ₹8,00,000, the interest rate is 5% for female students and 8% for male students.
**Note 3:** The loan and interest amount is to be repaid in 60 equal monthly installments within five years from the date of completion of studies or from the date of getting a job, whichever is earlier. 
**Note 4:** Penalty interest at the rate of 2% is payable on delayed payments.
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Eligibility:
1. The applicant should be a resident of Gujarat.
   1. The applicant should belong to a minority religious community (Muslim, Christian, Sikh, Jain, Buddhist, Parsi, and Jewish) or a linguistic community (Sindhi, Marathi, Urdu) of Gujarat State.
   1. The applicant or any family member should not have received a loan from Gujarat Minorities Finance and Development Corporation Limited, Gujarat Backward Class Development Corporation, Gandhinagar, or any other central/state government corporation/institution or bank.
   1. The annual income of the applicant&amp;#39;s family should be:

  - ₹98,000/- for rural areas.
  - ₹1,20,000/- for urban areas.
  - However, families with income exceeding ₹1,20,000/- and up to ₹8,00,000/- are also eligible, albeit with different interest rates

  5. The applicant&amp;#39;s age should be between 16 and 32 years.
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Application Process:
[Online]
RegistrationStep 1: Visit the Gujarat Minority Finance and Development Corporation official website.
Step 2: Register as a new user with name, mobile number, email, Aadhaar number, and create a password.
Step 3: In the form, provide all the mandatory fields, fill in the captcha code, and click "Submit" to complete the registration process. A pop-up will appear acknowledging successful registration and displaying your User ID for Login.
ApplicationStep 1: Visit the Gujarat Minority Finance and Development Corporation official website.
Step 2: Log in using your registered credentials. Select the Education Loan Scheme from the available schemes.
Step 3: Fill in personal details, income information, business details, and bank account details.
Step 4: Upload required documents: Identity Proof, Address Proof, Income Certificate, Minority Certificate, Educational Qualification Certificate, and Bank Passbook.
Step 5: You will be taken to the online application form of the scheme. In the form, provide all the mandatory fields and upload all the mandatory documents in the specified format and size.
Step 6: Carefully review all the information provided and the documents uploaded. Make corrections, if any.
Step 7: Click "Submit" to submit your application. You'll receive a confirmation message. Note down your Application Number for future reference. You can also take a printout of the submitted application form.
Track Application StatusStep 1: Visit the Gujarat Minority Finance and Development Corporation official website.
Step 2: Navigate to the bottom of the home page, and click "Your Application Status".
Step 3: On the next page, provide your Application Number, Date of Birth, and click "View Status". The current status of your application will be displayed.
Contact: For any assistance, contact 079-23253843, 23254583, 23253757 or email md-gmfdcl@gujarat.gov.in.

Documents Required:
Identity Proof 
Address Proof 
Income Certificate 
Minority Certificate 
Educational Qualification Certificate 
Bank Passbook
Any other documents as required