Arivu Education Loan Scheme:- Arivu Education Loan Scheme 2023-24 is now taking applications through Karnataka Minority Development Corporation (KMDC).

This scheme provides loans at a low interest rate of 2% per annum to enable students from religious minorities in the country to pursue vocational studies

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Read below to see details about Arivu Education Loan Scheme about such as points, features and benefits, eligibility, appropriate course documentation requirements, loan limits and interest rates.

Arivu Education Loan Scheme 2023-24 (ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆ)

The Arivu Education Loan Scheme was launched by Karnataka Minority Development Corporation Limited. The scheme was established to help students from religious minorities in the state of Karnataka obtain vocational degrees through higher education.

The program is mainly aimed at communities in Karnataka including Muslims, Jains, Sikhs, Christians, Buddhists and Parsis.

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The loan option is open to students who have been admitted by the Karnataka Examination Authority (through CET/NEET) for programs like M.B.B.S., B.D.S., B.Arch., B.E., Ayush, B.Tech.

Through the Direct Benefit Transfer (DBT) scheme, the loan disbursed by the student will be immediately transferred from KMDC to the bank account of the college.

Karnataka Arivu Education Loan Scheme Details in Highlights(ಮುಖ್ಯಾಂಶಗಳಲ್ಲಿ ಕರ್ನಾಟಕ ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆಯ ವಿವರಗಳು)

Features Benefits of Arivu Education Loan Scheme(ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆಯ ವೈಶಿಷ್ಟ್ಯಗಳು ಮತ್ತು ಪ್ರಯೋಜನಗಳು)

• Every year they attend university in Karnataka, students there are eligible for education loans worth up to Rs 3 lakh
• The Arivu Education Loan has an annual interest rate of 2%.
• Additionally, upon completion of the degree, students begin repaying the loan within one year.
• Students who wish to renew their loan must contact their district office and pay 12% of the loan amount issued by the company for the previous year.

Eligibility Criteria for Arivu Education Loan Scheme(ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆಗೆ ಅರ್ಹತೆಯ ಮಾನದಂಡ)

• The candidate permanently resides in Karnataka.
• A candidate must belong to one of the minorities like Muslims, Christians, Jews, Buddhists, Sikhs and Parsis.
• The family income of the applicant should be less than Rs. 2.5 lakh from all sources. Students from minority communities who have applied for CET and NEET and prefer to apply for KMDCs ARIVU Educational Loan.
• First degree aspirants in engineering, medicine, dentistry, nursing, B.Ed, D.Ed, B-Pharma and D.Pharma should go here for all the courses eligible for Airvu loans.

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Required Documents for Arivu Education Loan Scheme(ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆಗೆ ಅಗತ್ಯವಿರುವ ದಾಖಲೆಗಳು)

• Applicants 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(ಸಾಲಕ್ಕೆ ಅರ್ಹವಾದ ಕೋರ್ಸ್ಗಳು)

Loan Limits and Interest Rate for Arivu Education Loan Scheme(ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆಗೆ ಸಾಲದ ಮಿತಿಗಳು ಮತ್ತು ಬಡ್ಡಿ ದರ)

Steps to Apply for Arivu Education Loan Scheme 2023-24(ಅರಿವು ಶಿಕ್ಷಣ ಸಾಲ ಯೋಜನೆ 2023-24ಕ್ಕೆ ಅರ್ಜಿ ಸಲ್ಲಿಸಲು ಕ್ರಮಗಳು)

• First of all, visit the official website of Karnataka Minority Development Corporation Limited ie. https://kmdc.karnataka.gov.in/en
• The homepage of the web browser opens on the screen

• Under the Loan/subsidy for minorities tab click on the Apply Online option
• A new page will open on the screen
• Now, enter your mobile number and Aadhaar card and click on the submit button
• An OTP will be sent to your registered mobile number
• Enter the received OTP to confirm
• Once you are successful, click on the Arivu Education Loan option
• The application will open on the screen
• Now, fill in all the required details like
• Name
• Fathers Name
• Academic Details like NEET or CET Score and SSLC Score
• Income Details
• Caste or religion details,
• Address details, etc
• Next, upload all the required documents
• Then, check all the details and check again to make sure nothing goes wrong
• Finally click on submit to complete the application process

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Arivu Education Loan Scheme FaQ

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