KMDC Loan Online Apply- KMDC Loan Apply Process Details

KMDC Loan Online Apply 2024: The Karnataka government has started KMDC Loan to provide financial assistance to students of minority communities and economically weaker sections. Under this scheme, the government provides annual loans ranging from Rs 50000 to Rs 300000 to candidates who want to study MBBS, MD MS, B.Tech, B.Sc, B-Tech, and M.Tech but are financially weak.

The special thing about the loan is that after 6 months of completion of the syllabus, the loan has to be repaid at an interest rate of only 2%. After this, the candidate can take a loan again for the next year’s studies.

So if you also want to take a loan for your graduation, then in this article you are going to learn about Step-by-step KMDC Loan Online Apply 2024, eligibility and necessary documents, so read the article till the end to know the information.

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What is KMDC Loan Scheme?

The full form of KMDC is “Karnataka Minorities Development Corporation Limited”. The government has started this scheme for the students of economically weaker sections in the state.

Under this scheme, the candidates will be provided loan facility ranging from Rs 50000 to Rs 300000 annually and subsidy will also be available on the loan amount, so whichever candidate wants to complete his graduation studies but does not have financial support, then this scheme is no less than a boon for them.

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KMDC Loan Online Apply

If you want to take advantage of this scheme, then the government has released an online portal. By visiting the online portal, you can get complete information about filling the KMDC loan form, starting from your eligibility.

Eligibility to take KMDC Loan

• To take KMDC Loan, the candidate should be from minority community or weaker section community.
• The candidate taking advantage of this scheme should be a resident of the state.
• The annual income of the candidate’s family should not exceed Rs 800000.
• The candidate should have his own Aadhar card.
• The candidate should have 10th and 12th pass mark sheet.
• No one in the candidate’s family should be in a government job.
• The minimum age of the candidate applying for this loan should be 18 years and the maximum age should be 55 years.

Documents required to take KMDC Loan

• Candidate’s Aadhar Card
• Candidate’s 10th 12th Marksheet
• Passport size photo
• Candidate’s CET Admission Certificate
• Candidate’s NEET Admission Certificate
• College Fee Details

KMDC Loan Online Apply 2024 Steps

• First of all you have to visit their official website “https://kmdconline.karnataka.gov.in/”.
• After this, on the home page, you have to login by entering your username and password.
• After logging in, you get the option of Arivu on the home page, click on it.
• Now the complete form of the scheme comes out in front of you.
• Fill all the information related to the scheme carefully.
• After filling the form, you have to upload the necessary documents.
• After uploading, you have to click on the Submit button on the screen.
• In this way you can do KMDC Loan Online Apply 2024. Apart from this, if you want to get more information, then you can visit their official website and call the helpline number.

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Important guidelines for taking KMDC Loan

• Candidates who want to take advantage of this scheme, they have to submit their application by visiting the official website of KMDC Loan.
• To take advantage of this scheme, the candidate has to satisfy the income certificate from the Tehsildar. Only then will he be eligible for the loan.
• The annual income of the candidate’s family should not exceed Rs 800000.
• All the candidates who want to do MBBS, MD, MS, they should all be NEET certified.
• The amount of the candidate whose loan will be approved will be transferred to the bank account of his college.
• The amount of loan will be determined on the basis of graduation. If more expenditure is being incurred in a course, then more loan is passed for it. If less amount is being incurred in a course, then less loan is passed.

Conclusion –

Here we have gone to “KMDC Loan Online Apply 2024” Hope you all have understood the complete information related to this scheme. If you are also thinking of taking a loan for your studies or graduation and you also have all the necessary documents available, then you can easily apply online by visiting their official website.

You can also check your status shortly after applying online. If your name comes in the list, then the loan amount is transferred directly to your college bank account. Apart from this, if you have any other question in your mind, then tell us by commenting below and do not forget to share the article with your friends and relatives, thank you.

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FAQs – KMDC Loan Online Apply

1)- Who can apply for KMDC Loan?

Candidates between the ages of 18 and 55 can apply for this scheme and the applicant must be from the minority community.

2)- What loans are being provided by the government?

The government brings different schemes from time to time for the unemployed living in the country who want to start their own business or complete their studies but are financially weak. For example, under the PM Mudra Yojana, loans up to Rs 10 lakh are provided to small and big businessmen.

3)- When does KMDC Loan have to be repaid?

The candidate can repay the loan at an interest rate of 2 percent after 6 months of completion of his course.