Rajasthan Educational Loan Scheme 2026: Concessional Loan up to ₹30 Lakh for Minorities
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Quick answer
The Educational Loan Scheme by the Rajasthan Minority Finance & Development Co-operative Corporation offers subsidised loans up to ₹30,00,000 for minority students pursuing technical or professional courses in India or abroad. Eligible applicants aged 16 to 32 years can secure funding with low interest rates starting from 3% per annum. Candidates can apply offline by submitting an application form at their District Minority Welfare Officer's office.
At a glance
| Main benefit | Concessional loans up to ₹30,00,000 |
| Ministry / department | Department of Minority Affairs and Waqf |
| Level | State Government (Rajasthan) |
| Age | 16–32 years |
| Income limit | ₹6 lakh |
| Application mode | Offline |
About the scheme
Implemented under the Department of Minority Affairs and Waqf by the Rajasthan Minority Finance & Development Co-operative Corporation, the Educational Loan Scheme helps minority youth afford job-oriented higher education. Students enrolled in recognised technical, professional, and career-focused courses can access concessional loans up to ₹20,00,000 for studying in India and up to ₹30,00,000 for studies abroad. The scheme provides affordable interest terms across two credit lines, a moratorium period post-course completion, and an extended repayment window to support students as they build their careers.
Benefits
- Loan for courses in India: Up to ₹20,00,000 (maximum ₹4,00,000 per year for courses up to 5 years).
- Loan for courses abroad: Up to ₹30,00,000 (maximum ₹6,00,000 per year for courses up to 5 years).
- Interest rate under Credit Line I: 3% per annum.
- Interest rate under Credit Line II: 8% per annum for male applicants and 5% per annum for female applicants.
- Moratorium period: 6 months after course completion or upon getting employment, whichever is earlier.
- Repayment duration: Entire loan amount must be repaid within 5 years.
Who can apply (eligibility)
- Applicant must belong to a notified minority community (Muslim, Christian, Sikh, Buddhist, Parsi, or Jain).
- Applicant must be between 16 and 32 years of age.
- Applicant must be enrolled in a recognised technical, professional, or job-oriented course.
- For Credit Line I (Rural): Annual family income must not exceed ₹98,000.
- For Credit Line I (Urban): Annual family income must not exceed ₹1,20,000.
- For Credit Line II: Annual family income must not exceed ₹6,00,000.
Documents required
- Minority Certificate
- Income Certificate or copy of BPL Certificate
- Residence Certificate
- Affidavit in the prescribed format
- Marksheet of the last examination passed
- Fee structure duly signed by the institute authority
- Accreditation Certificate of the institution
- PAN Card
- Aadhaar Card
- Bhamashah Card
How to apply
- 1Visit the office of the District Minority Welfare Officer or download the application form from the official Department of Minority Affairs portal.
- 2Collect or print out the prescribed physical application form.
- 3Fill in all personal, academic, and financial details accurately in the application form.
- 4Attach self-attested copies of all mandatory documents, including income and minority certificates.
- 5Submit the completed application form along with enclosures to the District Minority Welfare Officer's office.
Frequently asked questions
What is the maximum loan amount under this scheme?+
Students can receive up to ₹20,00,000 for studying in India and up to ₹30,00,000 for technical or professional courses abroad.
What is the interest rate charged on the loan?+
Under Credit Line I, the interest rate is 3% per annum. Under Credit Line II, female applicants pay 5% per annum and male applicants pay 8% per annum.
What is the age limit to apply for the scheme?+
Applicants must be between 16 and 32 years of age.
What are the income limits for applicants?+
Under Credit Line I, annual family income must not exceed ₹98,000 for rural areas and ₹1,20,000 for urban areas. Under Credit Line II, annual family income must not exceed ₹6,00,000.
When does the loan repayment begin?+
Repayment begins after a moratorium period of 6 months following course completion or obtaining employment, whichever happens earlier.
What is the total repayment period?+
The borrowed educational loan must be fully repaid within 5 years.
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