Scholarship
Educational Loan Scheme (GMFDC)(ELSGMFDC)
Overview
About ELSGMFDC
The Educational Loan Scheme is run by the Gujarat Minority Finance and Development Corporation (GMFDC), a state undertaking under the Social Justice and Empowerment Department of the Government of Gujarat. GMFDC was set up in 1999, when the state converted the earlier Gujarat Minority Board into a corporation under the Companies Act. It also works as a state channelising agency for the National Minorities Development and Finance Corporation, which sits under the Union Ministry of Minority Affairs.
The scheme lends money to students from Gujarat's minority communities to meet the cost of technical and non-technical courses, whether the study is in India or abroad. The benefit is a loan paid in cash, so it is credit that has to be repaid rather than a grant. The stated purpose is to fund education that leads to employment or self-employment for the borrower.
It is meant for individual students from the notified minority communities in Gujarat who are pursuing job-oriented courses. The loan amounts, interest rates and course limits are set by the corporation, and applications are made through GMFDC.
Sources: Gujarat Minority Finance and Development Corporation, Social Justice and Empowerment Department, Government of Gujarat · Educational Loan Scheme (GMFDC), myScheme (Digital India Corporation, MeitY) · National Minorities Development and Finance Corporation, Ministry of Minority Affairs
Who runs it
Provider
Gujarat Minorities Finance & Development Corporation Limited
State / UT Government
Social Justice and Empowerment Department · Gujarat Minorities Finance & Development Corporation Limited
At a glance
Key details
| Level | State/ UT |
| Scheme type | — |
| Category | Education & Learning |
| Beneficiaries | Individual |
| Benefit type | Cash |
| Application mode | Online |
Calendar
Important dates
Across all open application cycles.
| Cycle | Stage | Date |
|---|
Who can apply
Eligibility criteria
| The applicant should be a resident of Gujarat. | |
| The applicant should belong to a minority religious community (Muslim, Christian, Sikh, Jain, Buddhist, Parsi, and Jewish) or a linguistic community (Sindhi, Marathi, Urdu) of Gujarat State. | |
| The applicant or any family member should not have received a loan from Gujarat Minorities Finance and Development Corporation Limited, Gujarat Backward Class Development Corporation, Gandhinagar, or any other central/state government corporation/institution or bank. | |
| The annual income of the applicant's family should be | ₹98,000/- for rural areas. |
| The annual income of the applicant's family should be | ₹1,20,000/- for urban areas. |
| The annual income of the applicant's family should be | However, families with income exceeding ₹1,20,000/- and up to ₹8,00,000/- are also eligible, albeit with different interest rates |
| The annual income of the applicant's family should be | The applicant's age should be between 16 and 32 years. |
What you get
Award & benefits
- For studies within India, a maximum loan of ₹1,50,000/- per year and up to ₹7,50,000/- for a five-year course can be obtained.
- For medical courses within India, ₹2,50,000/- for 1 year and ₹12,50,000/- for 5 years can be obtained.
- For abroad studies, a maximum loan of ₹3,00,000/- for 1 year and ₹15,00,000/- for 5 years is provided.
- The annual interest rate on this loan is 3%.
- Note 1: If the applicant’s annual family income is up to ₹98,000 in rural areas or ₹1,20,000 in urban areas, the loan is provided at a concessional interest rate of 3% per annum.
- Note 2: According to the National Corporation's Credit Line-2, for families with an income of ₹1,20,000/- up to ₹8,00,000, the interest rate is 5% for female students and 8% for male students.
- Note 3: The loan and interest amount is to be repaid in 60 equal monthly installments within five years from the date of completion of studies or from the date of getting a job, whichever is earlier.
- Note 4: Penalty interest at the rate of 2% is payable on delayed payments.
What to prepare
Documents required
Step by step
How to apply
- 1Apply online
See the official links below for the application portal.
Questions
ELSGMFDC – FAQ
Disclaimer
Scheme details are compiled from myScheme, the Government of India’s official scheme-discovery platform, and are reproduced without alteration. Amounts, deadlines and eligibility change between cycles — always confirm on the official links above before applying. Expertie does not process applications or charge fees.