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Self Employement Lending Schemes- Credit Line 1-Term Loan Scheme

Self Employement Lending Schemes- Credit Line 1-Term Loan Scheme

  • The National Minorities Development & Finance Corporation (NMDFC)
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    Self Employement Lending Schemes- Credit Line 1-Term Loan Scheme

    The National Minorities Development & Finance Corporation (NMDFC)


    This scheme is for individual beneficiaries and is implemented through the SCAs.


    Scheme Benefits & Highlights
    • Under the scheme, projects costing up to INR 20 lacs are considered for financing. 
    • NMDFC provides loan to the extent of 90% of the project cost subject to a maximum of INR 18 lacs. The remaining cost of project is met by the SCA and the beneficiary. 
    • However the beneficiary has to contribute minimum of 5% of the project cost. 
    • The rate of interest charged from the beneficiary is 6% p.a. on reducing balance method.
    • Moratium Period - 6 months
    • Repayment period for beneficiaries - 5 years
    • Means of Financing NMDFC: SCA:Benef. Contribution- 90 : 5 : 5
    • Utilization Period- 3 Months

    Assistance under Term Loan Scheme is available for any commercially viable and technically feasible venture, which for the purpose of convenience, are classified into the following sectors: Agriculture & allied, Technical trades, Small business, Artisan and traditional occupations, and Transport and services sector.

    Respective State Channelizing Agencies (SCAs) nominated by respective State/UT Government implement this scheme. Generally each Channelizing Agency has an office at district level where the beneficiary is required to make formal application.

    The beneficiaries need to contact their respective SCA (the details of the state wise SCAs are mentioned in the document below) and the SCA will link the loan account to the  Aadhar Card (though other biometric identification proof wil also work).

    To know more, click  here.

    The rate of interest charged from the beneficiary is 6% pa on reducing balance method.


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