Arivu Education Loan Scheme :- The 2023 Arivu Education Loan Scheme is currently accepting applications via the Karnataka Minorities Development Corporation (KMDC). loan application status This program provides loans with a low interest rate of 2% per year. It is designed to assist students from religious minority communities in the state in pursuing professional courses. loan application You can find detailed information about the Arivu Education Loan Scheme, loan last date including its highlights, features, benefits, eligibility criteria, necessary documents, eligible courses, loan limits, interest rates, application procedures, and more.
Arivu Education Loan Scheme 2023
The Arivu Education Loan program was started by the Karnataka Minorities Development Corporation Limited. Its goal is to help students from religious minority communities in Karnataka pursue professional degrees through higher education. loan application This program is mainly for Karnataka-based groups like Muslims, Jains, Sikhs, Christians, Buddhists, and Parsis. Students eligible for the arivu loan last date loan are those who have been accepted into programs such as M.B.B.S., B.D.S., B.Arch., B.E., Ayush, and B.Tech through the Karnataka Examination Authority (via CET/NEET). The loan amount is swiftly transferred to the college’s bank account using the Direct Benefit Transfer (DBT) process.
Key Highlights Of Arivu Education Loan Scheme
| 📚 Scholarship Name | Arivu Education Loan Scheme |
| 🏢 Introduced By | Karnataka Minorities Development Corporation Limited (KMDC) |
| 🌍 State | Karnataka |
| 🏆 Scholarship Amount | 50,000/- rupees to 3,00,000/- rupees |
| 🎯 Objective | To offer Educational Loan to students |
| 📲 Mode of Application | Online & Offline |
| 🌐 Official Website | https://kmdc.karnataka.gov.in/en |
Features & Benefits of Arivu Education Loan Scheme
The Arivu Education Loan Scheme offers several important features and advantages:
- Students in Karnataka can avail themselves of education loans worth up to 3 lakh for each year of their higher education.
- The annual interest rate for the education loan stands at 2%.
- It’s important to note that students are loan last date required to commence repaying the loan within one year of completing their degree.
- For those students wishing to renew their loans, they must visit their district offices and pay 12% of the previous year’s loan amount issued by the company.
Eligibility Criteria for Arivu Education Loan Scheme
To be eligible for the Arivu Education Loan Scheme, applicants must meet these criteria:
- Reside permanently in Karnataka.
- Belong to one of the minority communities like Muslims,arivu loan application Christians, Jews, Buddhists, Sikhs, or Parsis.
- The applicant’s family income should not exceed Rs. 2.5 lakhs from all sources. This includes minority community students who have applied for CET and NEET, as well as those interested in applying for KMDC’s ARIVU Educational Loan.
- If you are pursuing a bachelor’s degree in fields such as engineering, medicine, dentistry, nursing, B.Ed, D.Ed, B-Pharma, D.Pharma, and more, you can check the complete list of eligible courses.
Required Documents for Arivu Education Loan Scheme
Some of the important documents required for scheme are as follows:
- Applicant’s 4 passport-size photographs
- SSLC Marks Card and 2 PUC marks card
- Address proof like Ration card, Aadhar card, Telephone Bill, Water Bill, Keb Bill, etc
- Income Certificate
- Caste Certificate
- CET/NEET Admission Ticket
- Study Certificate (Present Course Non-CET)
- Indemnity Bond
- Previous year passed marks card (Non-CET)
- Partial recovery receipt (Renewal)
- College Fee Structure (Non-CET)
- Fee Structure
- College bank details
Eligible Courses for Loan
Here are some of the courses that you can study under the Arivu Education Loan Scheme:
| 🎓 M.B.B.S. | 📚 M.B.A. | 🔧 B.Tech. |
| 🩺 M.D. | 💻 M.C.A. | 🛠️ B.E. |
| 🔬 M.E. | 🏗️ M.Arch. | 🦷 B.D.S. |
| 🔍 M.S. | 🌿 M.Ayush. | 🏛️ B.Arch. |
| 💡 M.Tech. | 💊 M.Pharma. | ⚖️ L.L.B. |
| 🧑⚕️ M.D.S. | 🌿 B.Ayush. | 💊 Pharma.D. |
| 💊 B.Pharma. | 💊 D.Pharma. | 🌾 B.Sc. (Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Fisheries, Sericulture, Animal science, Food Technology, Bio Technology, Home/Community Sciences, Food Nutrition and Dietetics) |
Loan Limits and Interest Rate for Arivu Education Loan Scheme
| Courses | Loan Limits (per year) |
| 🩺 M.B.B.S., M.D., M.S. | Up to INR 3 lakh |
| 🦷 B.D.S., M.D.S. | Up to INR 1 lakh |
| 📚 M.B.A., M.C.A., and ⚖️ L.L.B. | |
| 🏛️ B.Arch., 🛠️ B.E., 🔧 B.Tech., 🎓 M.Tech., 🔬 M.E., 🏗️ M.Arch. | Up to INR 50,000 |
| 💊 B.Pharma., 💊 M.Pharma., 💊 Pharma.D., and 💊 D.Pharma. | Up to INR 50,000 |
| 🌾 B.Sc. in Horticulture, Agriculture, Dairy Technology, Forestry, Food Technology, Bio Technology, Veterinary, Animal science, Fisheries, Home/Community Sciences, Sericulture, Food Nutrition and Dietetics | Up to INR 50,000 |
| 🌿 B.Ayush. and 🌿 M.Ayush. | Up to INR 50,000 |
Procedure to Apply for Arivu Education Loan Scheme 2023
To get a loan, you have to do these steps:
- First, visit the Karnataka Minorities Development Corporation Limited’s arivu loan application status official website at https://kmdc.karnataka.gov.in/en.
- You will see the website’s main page on your screen.
To apply for a loan or subsidy for minorities, follow these simple steps:
- Click on the “Apply Online” option under the “Loan/subsidy for minorities” tab.
- A new page will appear on the screen.
- Now, provide your mobile number and Aadhaar card information, then click the “submit” button.
- An OTP will be sent to your registered mobile number.
- Enter the OTP you received for verification.
- Once successfully verified, select the “Arivu Education Loan” option.
- The application form will display on the screen.
- Fill in all the required information, including your:
- Name
- Father’s Name
- Academic Details, such as NEET or CET Score and SSLC Score
- Income Details
- Caste or religion details
- Address details, and more.
- Afterward, upload all the necessary documents.
- Review and double-check all the details to avoid any errors.
- Lastly, click “submit” to complete the application process.
Following these steps will help you apply for the loan or subsidy easily.
Contact Us
If you have any questions or need help with the Arivu Education Loan Scheme, you can reach out using the following information:
Summary
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FAQ Questions Related Arivu Education Loan Scheme
To apply, you should live in Karnataka. You should also belong to a minority religion like Islam, Christianity, Judaism, Buddhism, Sikhism, or Parsi. Your family’s total income must be below Rs. 2.5 lakhs.
Students who borrow money for their education will need to pay it back, along with a 2% service charge, within 6 months of finishing their course. arivu loan application status The maximum annual family income allowed for this program is Rs. 3,00,000, and students can borrow anywhere from Rs. 50,000 to Rs. 3,00,000 each year throughout their course duration.
The student’s loan amount will be sent from KMDC to their college bank account using Direct Benefit Transfer. Those chosen via Karnataka Examination Authority (CET/NEET) for Government or Private Colleges under the Government Quota for M.B.B.S will benefit from this.
The Department of Minorities Development offers education loans for courses like MBBS, BE, and M Tech. The last day to apply for the Arivu education loan is July 10, 2023.
