Eligibility
Eligibility conditions for availing loan assistance from the corporation
- Only SC/ST beneficiaries will get financial assistance from the Corporation.
- Applications are usually invited through notification in AIR, Doordarsan and leading news papers.
- In the case of schemes sponsored by National Refinancing Agencies (Except Micro Credit Finance Scheme and Mahila Samridhi Yojana), applications received only after the notification will be considered.
- Beneficiaries should be within the age limit of 18 years and 45 years. In the case of Training Programme, the range is 18 to 35 years.
- Annual family income of the beneficiaries should not exceed
40,000/- in Rural area and
55,000/- in Urban area for NSFDC sponsored schemes. - Annual family income of the beneficiaries should not exceed
39,500/- in Rural area and
54,500/- in Urban area for NSTFDC sponsored schemes. - Subsidy not exceeding
10,000/- per head will be given to the beneficiaries undertaking income generating ventures and below poverty line, subject to the availability of funds from Government. - The loan with interest should normally be repaid in 60 monthly instalments. However, there may be changes in certain schemes like Land Purchase Scheme for Agricultural Labourers, Micro Credit Finance Scheme, Mahila Samridhi Yojana etc.
- According to the nature of the scheme, variations may occur in parameters like age limit, annual family income and number of instalments.
- For availing loan assistance, the beneficiaries should submit necessary surety/security.
- According to the nature of the scheme, beneficiary contribution ranging from 2 % to 5% of the total project cost may be insisted.
- Self Employment loan will be provided to only one member in a family, as one family is considered as one unit as per the concept of Corporation’s lending policy.
Basic documents needed
- Caste Certificate
- Income Certificate (Annual family income of the beneficiaries should not exceed
40,000/- in Rural area and
55,000/- in Urban area for NSFDC sponsored schemes. ) - Document to prove age ( School Leaving Certificate / Election ID) ( Age should be within 18 and 45)
- Project Report
- Subsidy Eligibility Certificate from the Block Development Officer / Scheduled Castes Development Officer
- Election ID card of Loanee and surety
- Ration Card of Loanee
- Surety documents
Surety Norms
Employment or Collateral Surety Details
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