Term Loan Scheme of NMDFC

About This Scheme

Under this scheme of NMDFC, credit is extended for financing economically viable income generation ventures. Loan of upto ₹20,00,000/- under Credit Line-1 and upto ₹30,00,000/- under Credit line -2 is extended to beneficiaries at 6% p.a. & 8% p.a. respectively. Further, concession of 2% is extended to women beneficiaries under Credit Line-2.

Eligibility

a) The applicant must be Indian and belong to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain. b) The annual family income should not exceed: Rs. 3.00 lakh per annum under Credit Line–1. Rs. 8.00 lakh per annum under Credit Line–2. c) The applicant must be 18 years or above and capable of undertaking self-employment activity. d) The applicant should not have any outstanding loan or default under any Central/State Government financing scheme. e) The project proposal should be economically viable and technically feasible. f) The applicant must have a valid Aadhaar-linked bank account, residence proof, income certificate, and minority community certificate issued by a competent authority. g) Preference shall be given to women, youth, and occupational groups belonging to the minority communities. h) Insurance of the borrower and assets financed is mandatory under NMDFC guidelines.

Benefits

- Concessional Credit to the beneficiaries among minority communities.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.