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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

Loan Amount

Salary Certificate of a Permanent Government Employee

or

Collateral Surety

1.Upto
 .25000

 

 

2.Up to
 30000/

1.Net salary not below .2500/- per month.

 

2..Net salary not below .3000/- per month.

( Remaining Service  of the surety should be one year greater than the loan repayment period)

1)Original title deeds of at least 5 cents of land in Panchayat area,4 cents in Muncipality area and 3 cents in Corporation area
2) Tax Receipt
3) Possession Certificate
4) Location Certificate, Location Sketch
5) Encumberance Certificate ( for 13 Years)
6) Prior Documents
7) Non Attachment Certificate
8) Abstract of Thandapperu Register.
9) If the property to be pledged is not of the loanee, then along with the title deed the affidavit from the owner of the property in a stamp paper of .100/- signed before the Notary Public.

Upto . 50,000

1) Net salary not below . 4000/- per month
( Remaining Service  of the surety should be one year greater than the loan repayment period).

or

In addition to the above documents, the Valuation Certificate of the property is also to be produced for the loans above  30000/. The assessed value of the property should be higher than the loan amount

 

Loan Amount above 50,000 and below
75,000

1) Net salary not below .6000/- per month
( Remaining Service  of the surety should be one year greater than the loan repayment period)

Loan Amount above 75000

Net salary not below .6000/- per month for each 50,000 loan.
 ( Remaining Service  of the surety should be one year greater than the loan repayment period)

 

** conditions apply in respect of net salary and remaining service of surety

or

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