About this banking scheme
The "Overseas Educational Loan Scheme" objective is to provide financial/loan assistance to students belonging to minority communities who are pursuing graduate or postgraduate degree courses in recognized universities abroad.
The "Overseas Educational Loan Scheme" was launched by the Minorities Welfare Department, Government of Karnataka, and implemented by the Karnataka Minorities Development Corporation. The scheme objective is to provide financial/loan assistance to students belonging to minority communities who are pursuing graduate or postgraduate degree courses in recognized universities abroad.
Benefits at a glance
| Scheme name | Overseas Educational Loan Scheme (OELS) |
|---|---|
| Launched by | Minorities Welfare Department |
| Benefit type | Cash (money paid to your bank account) |
| Category | Banking |
| Level / State | State · Karnataka |
| Official portal | kmdconline.karnataka.gov.in (link at the end of this page) |
Key facts
| Implementing agency | Karnataka Minorities Development Corporation |
|---|---|
| Scheme for | Individual |
| Application mode | Online |
| Last date | Ongoing (no last date notified) |
| DBT (direct bank transfer) | No |
Who can apply (quick check)
- 👤All genders
- 🎂Age 18 to 45 years
- 🕌Minorities only
- 📝Online
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
- The loan amount will be provided up to Rs. 20,00,000/- at a zero interest rate.
Who qualifies
- The student should be a resident of Karnataka State.
- The student should belong to a minority community (Muslim, Christian, Jain, Buddhist, Sikh and Parsi).
- The student should have secured at least 60% marks in the previous year.
- The student should have received an offer letter from a foreign university.
- Loans will be provided only on mortgage of property (building/land) to the corporation. The value of the property should not be less than the loan amount.
- The students who have not received a scholarship from the Directorate of Minorities.
Who is not eligible
<br>
Papers to keep ready
- Aadhaar as Residential Proof.
- Caste/Minority Certificate (issued by the competent authority).
- Income Certificate (issued by the competent authority).
- SSLC Marks Card.
- 12th Std PU Marks Card.
- SSLC Transfer Certificate.
- Present Study Certificate.
- College Fee Structure.
- Copy of Passport.
- Copy of Visa.
- Sale Deeds & Mother Deed.
- Khata Extract and Khata Certificate or Mutation.
- Nil Encumbrance Certificate in form No.15.
- Up to date Tax paid receipt.
- Guidance rate from appropriate authority.
- Spot inspection report of the property by the District Manager.
- Valuation Report by registered valuer.
- Affidavit from Applicant.
- Joint Affidavit from the Beneficiary & the Guarantor.
- Promissory Note along with D.P Note Delivery letter.
Registration walkthrough
Online
Step-01: Applicant need to visits the Karnataka Minorities Development Corporation official website.
Step-02: Click "Apply Online" and Enter "Mobile Number" and "Submit".
Step-03: Enter "Aadhaar Number" Fill in the "Captcha" and Select "Next".
Step-04: Applicant will get OTP in his/her Aadhaar Linked Mobile Number.
Step-05: Enter "OTP" and select "Continue", After that Allow the official notice.
Step-06: After verifying the Aadhaar again fill in the "OTP" and Submit.
Step-07: Select the scheme "Sikhligar’s Community Development Scheme" and fill in the basic details father's name, gender, qualification detail
Step-08: Select "Next" Fill in the address detail and again select "Next".
Step-09: Upload the required document passport-size photo, educational document, income certificate, etc.
Step-10: Click "Proceed" and Select "Submit Application" and get an Application ID.
Frequently asked questions
What is the Overseas Educational Loan Scheme?
It provides financial assistance to minority community students in Karnataka for pursuing higher education abroad.
Who is eligible for the Overseas Educational Loan Scheme?
Students who are Karnataka residents, belong to minority communities, have 60% marks, and meet other criteria.
Which minority communities are covered under this scheme?
The scheme includes Muslim, Christian, Jain, Buddhist, Sikh, and Parsi communities.
What is the maximum loan amount that can be availed under this scheme?
The maximum loan amount is up to Rs. 20,00,000/-.
Is there an interest rate on the loan provided under this scheme?
Loans are provided at a zero-interest rate if the family income is below Rs. 8,00,000/-.
Is it mandatory to mortgage a property to avail of this loan?
Yes, a property must be mortgaged, and its value should cover the loan amount.
Can students who have already received a scholarship from the Directorate of Minorities apply for this loan?
No, those who have received a scholarship are not eligible.
Are diploma or short-term courses eligible for this loan?
No, only degree courses are eligible under this scheme.
How is the loan amount disbursed to the student?
The loan amount is disbursed either to the student's account or directly to the institution.
What documents are required to apply for this loan?
Key documents include proof of residence, minority status, academic records, income proof, and mortgage property papers.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Guidelines kmdc.karnataka.gov.in
- Login & Apply kmdconline.karnataka.gov.in
- Track Application kmdconline.karnataka.gov.in
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
Explore more
