The Kerala State Minorities Development
Finance Corporation Ltd.(KSMDFC Ltd.)
Under The Ministry Of Minority Welfare Kerala

Applications open for Self Employment Loans, Business Development Loans and Educational Loans. Please go to 'Downloads' Page for Application form

OUR ACTIVITIES

PROGRAMMES

SCHEMES OF NATIONAL MINORITIES DEVELOPMENT &FINANCE CORPORARION, NEW DELHI (NMDFC)

The Kerala State Minorities Development Finance Corporation (KSMDFC) was Incorporated on 14th February 2013 & Registered as a Non-profit Govt Company as on 22nd March 2013.  with the main objective of promoting economic activities amongst the backward sections of notified minorities. Such as Muslims, Christians, Sikhs, Buddhists, Parsis. To achieve its objective, KSMDFC is providing concessional finance for self-employment activities to Eligible beneficiaries belonging to the minority communities. At present the families having annual income up to rupees 81000 in rural areas and rupees 103000 in urban areas are eligible under the KSMDFC schemes.  The Authorized share capital of KSMDFC is rupees 100 cores.

SCHEMES AND PROGRAMMES

Scheme 1: SELF EMPLOYMENT SCHEME FOR MINIORITIES (NMDFC SCHEME)

The scheme is for individual beneficiaries and under this scheme, Projects costing up to 10 lakhs are

considered for financing.

Means of Financing are as follows:

NMDFC contribution 90%
KSMDFC contribution 5%
Beneficiary contribution 5%
Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are

expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan

amount that can be disbursed under this scheme is limited to 95% of the project cost or the amount

requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this

scheme will be Rs. 9.5 lakhs.
For purchasing commercial vehicles 90% of the on the road price of the vehicle, shall be given as loan

amount. The balance amount (the beneficiary contribution) shall be remitted by the beneficiary directly to

the authorised dealer. Hypothecation of the vehicle in favour of KSMDFC is compulsory. The vehicle should

be used for Self Employment income generating activities only.
Rate of Interest: For loan amount upto Rs. 50,000/- rate of interest is 5%.
For loans above 50,000/- the interest rate will be 6%.
Repayment Period: The maximum repayment period is fixed as 60 months (5 years).

Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh,

Parcis, Budhha & Jain).
2. The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
3. The applicant should not be a beneficiary under Self Employment Scheme of NBCFDC or NMDFC Scheme.
4. Age of the beneficiary shall be between 18-56 years as on the date of application.

Scheme 2: EDUCATIONAL LOAN SCHEME FOR MINIORITIES (NMDFC SCHEME)

The scheme is for individual beneficiaries. Under this scheme an amount up to 7.5 lakhs are considered for financing for studying technical, professional and skill development courses of durations not exceeding 5 years. The maximum amount per year is limited to 2 lakhs.
For Skill Development Programmes, the minimum periods shall be 1 year.
Maximum loan amount for Skill Development programmes for more than 1 year is limited to maximum 3 lakhs.

Means of Financing are as follows:

NMDFC contribution 90%
KSMDFC contribution 5%
Beneficiary contribution 5%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 95% of the cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs. 7.5 lakhs.
The student shall submit the details of the Admission Fee, Tuition fee and other fees to be paid by the student in the college in each year certified by the Principal or Head of the institution. The admissible expenditure includes Admission fee, Tuition fee, Exam fee and Hostel Expenses only. The loan is available to students perusing approved full time regular courses only. The college/institute that offering the course should be a recognized institution by the Central/State Government or by an appropriate authority such as AICTE/MCI etc.
Rate of Interest: The interest rate will be 3%.
Mode of release of loans: The installment amount will be paid by A/c payee cheque in the name of Applicant and Co-borrower. (The parent will be the co-borrower of the loan amount). For availing subsequent installments, the successful completion of the previous years of study is compulsory. A certificate in this regard shall be obtained from the head of the institution and submitted before the corporation to avail the subsequent installments.
Repayment Period: The maximum repayment period is fixed as 60 months (5 years). The repayment will start after 6 months from the completion of the course or immediately after getting job on completion of the course whichever is earlier. Even if the student has not successfully completed the course in the final year or he/she is perusing for higher studies, the repayment will start as per schedule i.e. after 6 months of the end of the course, for the loan is availed.

Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
2. The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
3. The applicant should not be a beneficiary under Educational Scheme of NMDFC or NBCFDC or other financial institutions.
4. Age of the beneficiary shall be between 16-32 years as on the date of application.
5. Confirmed admission in the intended course is the pre-requirement for availing the loan amount. Applications can be submitted in anticipation of the admission.
6. The admission of the candidate in the course shall be through a merit-cum-selection process.
7. Selection of beneficiary out of the eligible candidates will strictly be on merit and availability of fund from NMDFC.

Scheme 3: FOREIGN EDUCATIONAL LOAN SCHEME FOR MINIORITIES (NMDFC SCHEME)

The scheme is for individual beneficiaries. Under this scheme an amount up to 20 lakhs are considered for financing for studying technical and professional courses of durations not exceeding 5 years in a foreign country. The maximum amount per year is limited to 4 lakhs.

Means of Financing are as follows:

NMDFC contribution 90%
KSMDFC contribution 5%
Beneficiary contribution 5%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 95% of the cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs.20 lakhs.
The student shall submit the details of the Admission Fee, Tuition fee and other fees to be paid by the student in the college in each year certified by the Principal or Head of the institution. The admissible expenditure includes Admission fee, Tuition fee, Exam fee and Hostel Expenses only. The loan is available to students perusing approved full time and regular courses only. The college/institute that offering the course should be a recognized institution by the Central/State Government/UGC or by an appropriate authority such as AICTE/MCI etc. The original broacher of the course, the website details etc. shall be submitted along with the application. All the details/certificates shall be submitted in English Language only.
Rate of Interest: The interest rate will be 3%.
Mode of release of loans: The installment amount will be paid by A/c payee cheque in the name of Applicant and Co-borrower. (The parent will be the co-borrower of the loan amount). For availing subsequent installments, the successful completion of the previous years of study is compulsory. A certificate in this regard shall be obtained from the head of the institution and submitted before the corporation to avail the subsequent installments.
Repayment Period: The maximum repayment period is fixed as 84 months (7 years). The repayment will start after 6 months from the completion of the course or immediately after getting job on completion of the course whichever is earlier. Even if the student has not successfully completed the course in the final year or he/she is perusing for higher studies, the repayment will start as per schedule i.e. after 6 months of the end of the course, for the loan is availed.

Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
2. The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
3. The applicant should not be a beneficiary under Educational Loan Scheme of NMDFC or NBCFDC or other financial institutions.
4. Age of the beneficiary shall be between 16-32 years as on the date of application.
5. Confirmed admission in the intended course is the pre-requirement for availing the loan amount. Applications can be submitted in anticipation of the admission.
6. The admission of the candidate in the course shall be through a merit-cum-selection process.
7. Selection of beneficiary out of the eligible candidates will strictly be on merit and availability of fund from NMDFC.

OWN FUND SCHEMES OF KERALA STATE MINORITIES DEVELOPMENT FINANCE CORPORATION LTD. (KSMDFC)

Scheme 1: SELF EMPLOYMENT SCHEME FOR MINIORITIES (KSMDFC SCHEME)

The scheme is for individual beneficiaries and under this scheme, Projects costing up to 10 lakhs are considered for financing.

Means of Financing are as follows:

KSMDFC contribution 90%
Beneficiary contribution 10%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 90% of the project cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs. 10.0 lakhs.
For purchasing commercial vehicles 90% of the on the road price of the vehicle, shall be given as loan amount. The balance amount (the beneficiary contribution) shall be remitted by the beneficiary directly to the dealer. Hypothecation of the vehicle in favour of KSMDFC is compulsory. The vehicle should be used for Self Employment income generating activities only.
Rate of Interest: The interest rate will be 6%.
Repayment Period: The maximum repayment period is fixed as 84 months (7 years).
Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
2. The annual family income must be below 1,03,000/- .
3. The applicant should not be a beneficiary under Self Employment Scheme of NBCFDC or NMDFC Scheme.
4. Age of the beneficiary shall be between 18-58 years as on the date of application.

Scheme 2: SELF EMPLOYMENT SCHEME FOR MINIORITIES RETURNED UNDER NITAQAT LAW PRAVASI LOAN SCHEME (NITAQAT)

The scheme is for individual beneficiaries who are returned from Saudi Arabia due to the introduction of the Nitaqat law in Saudi Arabia, providing for mandatory recruitment of locals in the private sector. The applicant should be returned to Kerala due to compulsory EXIT from KSA with in the period 2 April 2013 and 3 November 2013. Under this scheme, Projects costing up to 10 lakhs are considered for financing.

Means of Financing are as follows:

KSMDFC contribution 90%
Beneficiary contribution 10%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 90% of the project cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs10 lakhs.
For purchasing commercial vehicles 90% of the on the road price of the vehicle, shall be given as loan amount. The balance amount (the beneficiary contribution) shall be remitted by the beneficiary directly to the dealer. Hypothecation of the vehicle in favour of KSMDFC is compulsory. The vehicle should be used for Self Employment income generating activities only.
Rate of Interest: The interest rate will be 3%.
Repayment Period: The maximum repayment period is fixed as 84 months (7 years).

Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
2. The annual family income must be below 1,03,000/- .
3. The applicant should not be a beneficiary under Self Employment Scheme of NBCFDC or NMDFC Scheme.
4. Age of the beneficiary shall be between 18-58 years as on the date of application.
5. The applicant should be returned to Kerala due to compulsory EXIT from KSA with in the period 2 April 2013 and 3 November 2013.

Scheme 3: PRAVASI LOAN SCHEME

SELF EMPLOYMENT SCHEME FOR MINIORITIES RETURNED FROM FOREIGN COUNTRIES (KSMDFC SCHEME)

The scheme is for individual beneficiaries who are returned from FOREIGN COUNTRIES and decided to settle in Kerala by starting a self employment venture. Under this scheme, Projects costing up to 10 lakhs are considered for financing.

Means of Financing are as follows:

KSMDFC contribution 90%
Beneficiary contribution 10%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 90% of the project cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs10 lakhs.
For purchasing commercial vehicles 90% of the on the road price of the vehicle, shall be given as loan amount. The balance amount (the beneficiary contribution) shall be remitted by the beneficiary directly to the dealer. Hypothecation of the vehicle in favour of KSMDFC is compulsory. The vehicle should be used for Self Employment income generating activities only.

Rate of Interest: The interest rate will be 5%.
Repayment Period: The maximum repayment period is fixed as 84 months (7 years).

Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
2. The annual family income must be below 1,03,000/- .
3. The applicant should not be a beneficiary under Self Employment Scheme of NBCFDC or NMDFC Scheme.
4. Age of the beneficiary shall be between 18-58 years as on the date of application.
5. Pass Port and Visa Particulars of the applicant.
6. The applicant should be returned to Kerala by EXIT from foreign countries on or after Jan 2013.

Scheme 4: VISA LOAN SCHEME

FOR MINIORITIES TO FIND JOB IN FOREIGN COUNTRIES
The scheme is for individual beneficiaries who are planning to find a job in foreign countries. The applicant should produce a valid passport and visa for availing the loan. The applicants spouse/father/mother/ brother/ sister shall be the co-borrower along with the applicant. The maximum Loan amount under this scheme is Rs. 3lakhs.

Means of Financing are as follows:

KSMDFC contribution 90%
Beneficiary contribution 10%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum amount that can be disbursed under this scheme will be Rs. 3 lakhs.
Rate of Interest: The interest rate will be 5%.
Repayment Period: The maximum repayment period is fixed as 72 months (6 years).

Eligibility Criteria:

1. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
2. The annual family income must be below 1,03,000/- .
3. Age of the beneficiary shall be between 18-58 years as on the date of application.
4. Valid Pass Port and Visa Particulars of the applicant.

Scheme 5: EDUCATIONAL LOAN SCHEME FOR MINIORTY STUDENTS (KSMDFC SCHEME) (STUDENT PLUS)

(The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area)
The scheme is for individual beneficiaries (students). The applicant for the loan is the Student. The parent will be the co-borrower for the loan. Under this scheme an amount up to 7.5 lakhs (Rs. SEVEN LAKH FIFTY THOUSAND ONLY) are considered for financing for studying technical, professional and skill development courses of durations not exceeding 5 years. The maximum amount per year is limited to 1.5 to 2 lakhs.
For courses with duration ONE year the maximum loan amount is Rs. 3 lakhs
For courses with duration Three years the maximum loan amount is Rs. 5 lakhs (Max 2lakh per year)

Means of Financing are as follows:

KSMDFC contribution 95%
Beneficiary contribution 5%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 95% of the cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs.7. 5 lakhs.

The student shall submit the details of the Admission Fee, Tuition fee and other fees to be paid by the student in the college in each year certified by the Principal or Head of the institution.
The admissible expenditure includes Admission fee, Tuition fee, Exam fee and Hostel Expenses only.
The applicant should have obtained admission for any full-time professional/Technical /Skill development Courses through a Selection process based on Merit. Distant education/ Part-time programmes are also not covered under this scheme.

The college/institute that offering the course should be a recognized institution by the Central/State Government or by an appropriate authority such as UGC/ AICTE/MCI etc.
Rate of Interest: The interest rate will be 3%.
Mode of release of loans: The installment amount will be paid by A/c payee cheque in the name of Applicant and Co-borrower. (The parent will be the co-borrower of the loan amount).
For availing subsequent installments, the successful completion of the previous years of study is compulsory. A certificate in this regard shall be obtained from the head of the institution and submitted before the corporation to avail the subsequent installments.
Repayment Period: The maximum repayment period is fixed as 60 months (5 years).
The repayment will start after 6 months from the completion of the course or immediately after getting job on completion of the course whichever is earlier.
Even if the student has not successfully completed the course in the final year or he/she is perusing for higher studies, the repayment will start as per schedule i.e. after 6 months of the end of the course, for the loan is availed.

Eligibility Criteria:

8. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
9. The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
10. The applicant should not be a beneficiary under Educational Scheme of NMDFC or NBCFDC or other financial institutions of Kerala State.
11. Age of the beneficiary shall be between 16-32 years as on the date of application.
12. Confirmed admission in the intended course is the pre-requirement for availing the loan amount. Applications can be submitted in anticipation of the admission.
13. The applicant should have obtained admission for any full-time professional/Technical/Skill Development Courses through a Selection process based on Merit.
14. Selection of beneficiary out of the eligible candidates will strictly be on merit and availability of fund.
15. Distant education/ Part-time programmes are also not covered under this scheme.

Scheme 6: FOREIGN EDUCATIONAL LOAN SCHEME FOR MINIORITIES (KSMDFC SCHEME)

The scheme is for individual beneficiaries. Under this scheme an amount up to 20 lakhs are considered for financing for studying technical and professional courses of durations not exceeding 5 years in a foreign country. The maximum amount per year is limited to 4 lakhs. Only courses at Graduate Degree/Diploma and Post Graduate level will be covered under this scheme.

Means of Financing are as follows:

KSMDFC contribution 90%
Beneficiary contribution 10%

Beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilise the amount along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 90% of the cost or the amount requested by the beneficiary whichever is lower. The maximum amount that can be disbursed under this scheme will be Rs.20 lakhs.
The student shall submit the details of the Admission Fee, Tuition fee and other fees to be paid by the student in the college in each year certified by the Principal or Head of the institution. The admissible expenditure includes Admission fee, Tuition fee, Exam fee and Hostel Expenses only. The loan is available to students perusing approved full time and regular courses only. The college/institute that offering the course should be a recognized institution by the Central/State Government/UGC or by an appropriate authority such as AICTE/MCI etc. The original broacher of the course, the website details etc. shall be submitted along with the application. All the details/certificates shall be submitted in English Language only.
Rate of Interest: The interest rate will be 3%.
Mode of release of loans: The installment amount will be paid by A/c payee cheque in the name of Applicant and Co-borrower. (The parent will be the co-borrower of the loan amount). For availing subsequent installments, the successful completion of the previous years of study is compulsory. A certificate in this regard shall be obtained from the head of the institution and submitted before the corporation to avail the subsequent installments.
Repayment Period: The maximum repayment period is fixed as 84 months (7 years). The repayment will start after 6 months from the completion of the course or immediately after getting job on completion of the course whichever is earlier. Even if the student has not successfully completed the course in the final year or he/she is perusing for higher studies, the repayment will start as per schedule i.e. after 6 months of the end of the course, for the loan is availed.

Eligibility Criteria:

8. Applicant must belong to any one of the notified minority communities. (Muslims, X’ans, Sikh, Parcis, Budhha & Jain).
9. The annual family income must be below 81,000/- in rural area and 1,03,000/- in urban area.
10. The applicant should not be a beneficiary under Educational Loan Scheme of NMDFC or NBCFDC or other financial institutions.
11. Age of the beneficiary shall be between 16-32 years as on the date of application.
12. Confirmed admission in the intended course is the pre-requirement for availing the loan amount. Applications can be submitted in anticipation of the admission.
13. The admission of the candidate in the course shall be through a merit-cum-selection process.
14. Selection of beneficiary out of the eligible candidates will strictly be on merit and availability of fund.

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