Term Loan Scheme (GNDTDC)

About This Scheme

The scheme "Term Loan Scheme" is implemented by the Gujarat Nomadic and Denotified Tribes Development Corporation (GNDTDC) under the Social Justice and Empowerment Department, Government of Gujarat. The scheme aims to promote self-employment among individuals from the Nomadic and Denotified Tribes communities by providing financial assistance for agriculture and allied activities, small-scale businesses, craftsmanship & traditional occupations as well as service-based businesses/trades. Under this scheme, beneficiaries can avail loans at concessional interest rates to purchase equipment, raw materials, or working capital.

Eligibility

1. The applicant should be a resident of Gujarat. 1. The applicant should belong to the Nomadic Tribe or Denotified Tribe. 1. The applicant's family's annual income should not exceed ₹3,00,000/-. 1. The applicant's age should be between 21 to 50 years on the date of application. 1. The applicant must have experience in the proposed trade/business. 1. The applicant will have to provide suitable collateral to get the loan. Note: At least 50% of the total loan amount under this scheme will be specifically allocated to families with an annual income of up to ₹1,50,000/-.

Benefits

Loan Amount Details: - Loan Amount: Up to ₹20,00,000/-.- Interest Rate: 6% per annum. - Loan Contribution: 85% will be from the National Corporation, 10% from the State Government, 5% from the beneficiary.- Repayment: The total loan amount, including interest, must be repaid in 60 equal monthly instalments.

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.