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Applications invited from minority students for Maulana Azad Education Loan 2017

Maulana Azad Minorities Financial Development Corporation providing loans to minority students who are pursuing their higher education in Technical and professional courses. Read here complete notification for more details about Maulana Azad Education Loan Scheme 2017.

Dec 29, 2017 13:27 IST
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 Maulana Azad Education Loan Scheme
Maulana Azad Education Loan Scheme

Maulana Azad Minorities Financial Development Corporation Ltd is offering loans to students who want to complete their higher education in Technical and professional courses. The loan facility is being offered under ‘Maulana Azad shaikshanik Karz Yozana’. The students who want to avail this facility can apply for this scheme in online mode only. Also, all students should check the eligibility criteria for Maulana Azad Education Loan Scheme. Students can check here how to apply for MAEL 2017 as well as all details for documents, scheme details and repayment policy.

Eligibility for Maulana Azad Education Loan 2017

  • Students should belong to minority community i.e. Muslim, Sikh, Christians, Parsee, Buddhist and Jain
  • Student must be local resident of Maharashtra
  • Students should be between 16 to 32 years of age
  • The Colleges/Institutes where the students are pursuing the technical or professional must be approved by Central Govt. /State Govt./AICT/UGC/ISC.
  • Women and Handicapped students will be given preference for providing loan facility first.
  • The annual income limit of students’ family should not be more than 2, 50, 000

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Maulana Azad Education Loan Scheme details –

The limit for providing loan ranges from Rs. 5000 to Rs.2, 50, 000

The Loan amount from MAMFDC is credited 100% with interest rate of 3% per annum.

The students can begin the repayment of the loan after six months of their course completion or after joining their job/employment whichever is earlier.

Documents required for application of education loan at Maulana Azad Minorities Financial Development Corporation is as under –

  • Passport size colour photograph of student applying
  • One photo ID proof (Election Card / Pan card / Passport / Aadhaar Card / Driving License)
  • Residential address proof (Election Card/ Passport / Driving License / Domicile Certificate / Electricity Bill)
  • Date of Birth Proof (School Leaving Certificate / Birth Certificate / Passport)
  • Class 10/ matric certificates including state/national board, roll number/seat number, aggregate percentage marks, and grade
  • Class 12/ High school certificates including state/national board, roll number/seat number, aggregate percentage marks, and grade  
  • Copy of last semester/year examination
  • Fee Structure for their course including tuition fee, mess, hostel, and stationary
  • Bonafide Certificate
  • Photocopy of bank passbook

Documents required from Co-Applicant (Parent)

  • Passport size colour photograph of student’s parent
  • Valid photo ID proof (Election Card / Pan Card / Passport / Aadhaar Card / Driving License)
  • Address/Residential proof (Election Card/ Passport / Driving License / Domicile Certificate / Electricity Bill)
  • Income Certificate as issued by Tahsildar / Collector of their region/city
  • Date of Birth Proof (School Leaving Certificate / Birth Certificate / Passport)
  • PAN Card
  • Aadhaar Card
  • Affidavit (in Prescribe format)

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Document required for loan Guarantor

  • Passport size colour photograph
  • Valid Photo ID Proof (Election Card / Pan card / Passport / Aadhaar Card / Driving License)
  • Aadhaar Card
  • Address proof (Election Card/ Passport / Driving License / Domicile Certificate / Electricity Bill)
  • Affidavit (in Prescribe format)
  • Income Proof (anyone)
  • For Govt. Servant: Salary Slip Certificate, Office ID card and PAN Card
  • For Businessman: last 3 years IT Return Certificate and PAN card
  • For Property holder Guarantor: copy of 7/12, Valuation Certificate

How to Apply for Maulana Azad Education Loan Scheme

  1. Candidates can check below to apply for MAEL –
  2. Visit the official website www.mamfdc.org,
  3. Click on ‘Online Education’ link and read the instructions before applying
  4. Register and fill the application form of Maulana Azad Education Loan Scheme
  5. The incomplete application form will not be considered at any stage, so students should check the application status.

Click here to apply

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