Eligibility criteria:-

1. Candidate(s) must be from notified minority Communities (Christian, Buddhist, Jain, Muslim, Parsi & Sikh) and domiciled of West Bengal.

2. Applicant must be pursuing Professional/Technical courses from a recognized institute in India or in Abroad in regular mode, as per list attached.

3. Applicant’s age must be between 18 to 32 years as on 1^st January of the year of the application.

4. Applicant must have obtained 70% or 75% marks in their previous qualifications in regular mode to avail education loan for domestic or abroad purposes respectively.

• a. For graduation level course, higher secondary (10+2) or its equivalent marks are required.
• b. For post-graduation level course, marks obtained at graduation level is required.

5. Yearly family income must be within 8 lakh to be eligible for education loan

• (a) Rate of interest will be 3% in case of applicants whose family income is within Rs.98, 000 and Rs.1, 20,000 per annum for rural and urban areas respectively.
• (b) For others, rate of interest will be 8% for boys and 5% for girls

6. Duration of course should be one year or more.

7. Must be able to provide surety/guarantor as per norms.

Eligibility to become guarantor:

a. Guarantor must be a resident of West Bengal.

b. Guarantor must be a

• 1. Regular government/ semi-government/ statutory body/ autonomous body/ public sector undertakings/ central/ state employee within the age limits of 54 years OR
• 2. Income tax payee up to Rs 1,00,000 is also eligible to be surety/guarantor for loan amount of Rs 5,00,000. If the amount of tax paid is more than Rs 1,00,000, he is eligible to be surety / guarantor for any amount OR
• 3. WBMDFC beneficiary who has re-paid the loan in time OR
• 4. Notary/ Public prosecutor (with Bar council registration no) OR
• 5. Teachers ( Govt aided schools and Madrasahs) OR
• 6. Practicing doctors with IMA registration.

For loan amount of Rs. 50,000/- no guarantor is required

Documents to be uploaded:-

1. Bonafide certificate of current year (proof that the candidate is studying in the institute during that particular year).

2. Admit card, which reflects the date of birth of the student.

3. Aadhar Cards of both applicant and guardian.

4. One photo identity card of both candidate and guardian (voter id or aadhar card).

5. PAN card of the candidate and that of the joint account holder (parent/guardian).

6. One address proof of both candidate and guardian (ration card or electricity bill or aadhar or EPIC)

7. Two copies of photo of both the candidate and the guardian

8. Income certificate from the competent Authority prescribed by the Govt. of West Bengal

9. Mark Sheet

• a. For Diploma course, mark sheet of Secondary examination 10th or eqivalent is required.
• b. For graduation Level, mark sheet of Higher Secondary 10+2 or equivalent is required.
• c. For graduation level(Lateral entry to technical courses), mark sheet of Diploma course is required.
• d. For Post graduation level, mark sheet of Graduation level is required.

10. Photo copy of the first page of the passbook of the joint account with parent/guardian.

11. Caste certificate: wherever applicable for candidates other than general.

12. Fee details of the entire Course with year wise & item wise break up .

13. In case of Person with Disabilities or orphan/widow , relevant documents/certificates.

14. For OBC/other reserve candidates, relevant doucuments/certificate.

15. Income certificate to be upload

16. For abroad candidates: The following additional documents need to be uploaded

• a. Photo-copy of the Passport of the candidate
• b. Photo-copy of the visa application for the country applied to. ( May submit after provisional Offer)
• c. Offer letter from the institute

Other requirements (after getting Provisional Offer letter):-

1. After submission of the online application, the application needs to be downloaded and signed by the student, guardian, guarantor and the institute authority with seal and then handed over to Education Supervisor during document verification. Click here to view the list of Education Supervisors

2. Candidates and guardians should have a joint account,Preferable in same bank – bank copy with signature of both needs to be provided

3. NACH to be signed by joint account holder (student and guardian both)

Legal Documents – Candidates need to collect the format of the legal documents from the Education Supervisor during document verification.

4. All pages of legal documents (agreement for education loan) must have signature of both student and guardian

5. Guarantor must sign in all the pages of the legal papers (letter of guarantee), and need to be submitted along with current pay slip

• a. Guarantor must be a regular government/ semi-government/ statutory body/ autonomous body/ public sector undertakings/ central/ state govt. employee within the age limit of 54 years and must be a resident of West Bengal.
• b. One guarantor cannot stand as guarantor/ surety for more than two cases.
• c. Income tax payee up to Rs 1lakh can also stand surety/guarantor for loan up to Rs 1,00,000/-. If tax paid amount is more than 1Lakh, he can stands surety/guarantor up to any amount.

6. Declaration page which has to be notarized, must be signed by guardian

7. Family income should remain same in the application form and in the declaration page, which has to be notarized

8. Promissory note and money receipt must be signed by both guardian and candidate (signature on revenue stamp)

Undertaking By Applicant or Parents/Guardian
I agree to the following:

• I have read and understood the guidelines for registration.
• I am aware that if more than one application is found to be filled (fresh or renewal), all my/my child's/ward's applications are liable to be rejected.
• I have not received education loan prior to applying for the same this year irrespective of any course.
• I Shall abide by all terms & Conditions framed by WBMDFC till the entire repayment is made.
For any query, Please contact with Mr. SK. Wasim (1800 120 2130)