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Arivu Education Loan

Karnataka Arya Vysya Community Development Corporation

Arivu Education Loan Scheme Guidelines

            In this scheme, students belonging to the Arya Vysya Community studying in professional courses like Medical, dental, Engineering, MBA, MCA, etc. can apply for education loan. The students should be selected through CET for Graduate / Post Graduate Courses and also for professional Ph.D. Courses. The maximum loan provided per year will be Rs. 1,00,000 /- at 2% rate of interest per annum

Sl No 

Eligibility

 

1

 Eligibility

Candidate must belong to Arya Vysya Community.

2

Income criteria:

Applicants family income per annum for both rural and urban must be within Rs.6,00,000/-

3

Age Limit:

The applicant must be above 18 years and below 35 years of age.

4

Address:

The applicant must be from Karnataka and their permanent address must be in Karnataka state.

5

Reservation for women:

33% of women candidates to be selected as beneficiaries

6

Person with Disabilities Reservation:

5% of PWD candidates to be selected as beneficiaries.

7

 

Only 2 candidates can be selected from one family.

8

(A) Fee Structure:

Fee allotted from Karnataka Examination Authority along with Entrance Fee, Tuition Fee, Hostel Fee, Books, Laptop, Examination Fees and Other Fees to be granted as a loan within limit of Rs.1,00,000/- per year. Candidates selected through CET have to get an attested fee structure and study certificate from the concerned principal of the college.

 

(B) Hostel Fee:

 If student is staying in College Hostel, candidates have to get an attested hostel certificate from the concerned principal of the college.

9

Loan Repayment Period:

Repayment of loans received under this scheme to be paid with principal and interest in 36 monthly installments over a period of 3 years. The student should start repayment by the 4th month after completing the course. (4 months shall be break period).

10

 

Applicants must have Aadhar card and mobile number should be linked with Aadhar and Bank account should be Aadhar seeded.

 

 

Documents to be Submitted

SL NO

Document to be Submitted

File Type

File Size

1

Study Certificate

PDF

50KB-500KB

2

C E T Admission ticket

PDF

50KB-500KB

3

Fee Structure (Year wise)

PDF

50KB-500KB

4

Previous Year Marks Card

PDF

50KB-500KB

5

College Hostel Certificate

PDF

50KB-500KB

Last Updated: 21-08-2023 04:08 PM Updated By: Admin



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