NSFDC Loan Schemes 2020 – How to Apply Online | NSFDC Loans List

Hello readers, are you belongs to Scheduled Castes? If yes, then we are having very vital information for your people. Are you looking for Loan schemes? Today in this article we are going to provide all the schemes in detail facilitate by the National Scheduled Castes Finance and Development Corporation. In this article, you may get all the details related to the NSFDC Loan Schemes 2020 such as who can apply, how to apply, etc. scroll this page to grab it.

NSFDC Loan Schemes 2020

National Scheduled Castes Finance and Development Corporation, Ministry of Social Justice and Empowerment, Govt. of India (NSFDC Loan Schemes) has taken an initiative to support the people belongs to scheduled caste by launching various Loan schemes. Name of the schemes provided by the NSFDC are as under:

  • Term Loan (Tl)
  • Micro Credit Finance (MCF)
  • Mahila Samriddhi Yojana (MSY)
  • Mahila Kisan Yojna (MKY)
  • Shilpi Samriddhi Yojana (SSY)
  • Laghu Vyavsay Yojana (LVY)
  • Nari Arthik Sashaktikaran Yojana (NASY)
  • Educational Loan Scheme (ELS)
  • Vocational Education and Training Loan Scheme (VETLS)
  • Green Business Scheme (GBS)
  • Schemes to Be Implemented Through NBFC-MFI’S
NSFDC Loan Scheme 2019

NSFDC Loan Schemes 2020 Highlights

Name of the schemes Loan Schemes
Initiated by National Scheduled Castes Finance and Development Corporation, Ministry of Social Justice and Empowerment, Govt. of India
Beneficiaries Schedule caste people
Official website https://nsfdc.nic.in/

Term Loan (TL):

A term loan is provided by the National Scheduled Castes Finance and Development Corporation up to 90% of the cost of the project. The main condition is that the SCA’s need to contribute their share of assistance as per their schemes. Also besides tying up of the financial resources from other sources available’s have to provide the required subsidy. This loan will be provided to the beneficiaries for 10 years. Applicants may repay the loan by paying quarterly/ half-yearly/ yearly installments. The moratorium period is of 6 to 12 months as per the nature of business. Interest on Principal amount of loan will be charged as mentioned under:

Loan Amount Interest per Annum
SCAs Beneficiaries
Upto Rs 5.00 lakh 3% 6%
Above Rs 5.00 lakh and up to Rs 10.00 lakh 5% 8%
Above Rs 10.00 lakh and up to Rs 20.00 lakh 6% 9%
Above Rs 20.00 lakh and up to Rs 45.00 lakh 7% 10%
Prime Minister Employment Generation Program

Micro Credit Finance (MCF):

The corporation will provide the loan for the project costing up to Rs. 60000. The micro-credit finance will be provided for small income-generating activities. Loan will be sanctioned up to 90% of the project cost. SCAs have to pay 2% and Beneficiaries have to pay a 5% rate of interest per annum.  Applicants will have to repay the loan amount within 3 ½ years. Installments have to pay quarterly from the date of each disbursement including the moratorium period. The moratorium period for MCF is 3 Months.

Mahila Samriddhi Yojana (MSY):

MahilaSamriddhiYojana is as same as micro-credit finance especially for only women with less rate of return. The loan will be provided for the project costing up to Rs. 60000. Loan will be sanctioned up to 90% of the project cost. SCAs have to pay 1% and Beneficiaries have to pay a 4% rate of interest per annum.  Applicants will have to repay the loan amount within 3 ½ years by paying quarterly installments from the date of each disbursement including a moratorium period of 3 months.

Mahila Kisan Yojana (MKY):

Mahila Kisan Yojana is especially for the women of the Rural area. This scheme is for taking up agriculture and/or Mixed farming-related activities. Project costing up to Rs. 200000/-. Loan up to 90% of the project cost will be given at a 2% rate of interest chargeable from SCA’s and a 5% rate of interest chargeable from beneficiaries per annum. Repayment of the loan is to be done within 10 years from the date of each disbursement including moratorium period of 12 months. The loan repayment will be done by paying quarterly installments.

Shilpi Samriddhi Yojana (SSY):

Shilpisamriddhiyojana is for providing financial assistance for small income generation activities where project costing is up to Rs. 200000/-. Loan up to 90% of the project cost will be given. The rate of interest chargeable from SCA’s is 2% and 5% from beneficiaries per annum. Repayment of the loan is to be done within 6 years from the date of each disbursement including a moratorium period of 6 months. The loan repayment will be done by paying quarterly installments.

Laghu Vyavsay Yojana (LVY):

Under this scheme, the financial assistance will be given where the unit cost is Rs. 5 Lakh. The loan will be sanctioned up to 90% of the project cost at a 3% annual rate of interest for SCA’s and 6% annual rate of interest for beneficiaries which is to be repaid 6 years from the date of each disbursement including moratorium period of 6 Months by paying quarterly installments.

Educational Loan Scheme (ELS):

The education loan scheme is to provide financial assistance to the students who are pursuing full-time Professional/ Technical courses. The loan will be given up to Rs. 10 Lakh for the students who are studying within India and Rs. 20 Lakh for the students who pursue from outside India.  Repayment of loan up to Rs. 7.50 Lakh is within 10 years and a loan above Rs.7.50 Lakh is within 15 years. The moratorium period of loan repayment is 6 months after completion of the course or getting employment which is earlier. Interest on Principal amount of loan will be charged as mentioned under:

Student Loan Amount Interest Rate per annum
SCAs Student
Students within India Up to Rs.10.00 Lakhs 1.5% 4% (0.5%  rebate for women beneficiaries)
Abroad students Up to Rs.20.00 Lakhs 1.5% 4% (0.5%  rebate for women beneficiaries)

Courses Covered:

  • Actuarial Sciences (Graduation/ Post Graduation/ FIA)
  • Architecture (B.Arch/ M.Arch)
  • Associate Member of Institute of Engineers (AMIE) and Institute of Electronics & Telecommunication
  • Biotechnology/ Microbiology/ Clinical Technology (Diploma/ Degree)
  • Chartered Accountancy (CA)
  • Company Secretaryship (CS)
  • Cost Accountancy (ICWA)
  • Dental (BDS/ MDS)
  • Education (CT/ NTT/ B.Ed/ M.Ed)
  • Engineering (Diploma/ B.Tech / B.E, M.Tech/ M.E.)
  • Geriatric Care (Diploma/ Post Graduate Diploma)
  • Higher education like Doctoral Studies leading to M.Phil/ PhD from recognized institutions.
  • Hotel Management & Catering Technology (Diploma / Graduation/ Post Graduation)
  • Information Technology (BCA/ MCA)
  • Journalism & Mass Communication (Graduation/ Post Graduation)
  • Laboratory Technician (Diploma)
  • Law (LLB/ LLM)
  • Management (BBA/ MBA)
  • Medical (MBBS/ MD/ MS)
  • Midwifery (Diploma)
  • Nursing (B.Sc./ M.Sc.)
  • Pathology (B.Sc/M.Sc.)
  • Pharmacy (B.Pharma/ M.Pharma)
  • Physical Education (C.PEd./ B.PEd/ M.PEd)
  • Physiotherapy (B.Sc./ M.Sc.)

Vocational Education and Training Loan Scheme (VETLS):

VETLS scheme is to provide financial assistance to the applicants who want to pursue vocational education and training. The loan will be given up to Rs.4 Lakh for the course duration of 2 years. The rate of interest is 1.5% per annum from Channelizing Agency and 4% from beneficiaries. In the case of women, a 0.5% rebate will be given.

Eligibility Criteria:

  • Applicant must belong to schedule cast
  • The annual income of the family of the applicant must be below Rs.300000.
  • The student must have taken admission in course support by Ministry/ Deptt./ Organization of the Government or a Company/ Society/ Organization supported by National Skill Development Corporation or State Skill Missions/ State Skill Corporations.
  • There is no age restriction regarding minimum age to apply for a loan. In case the student is below 18, parents can execute the loan procedure
  • Upper age limit to apply for Loan is 50 years

Expenses to be Considered for Vocational Education and Training Course

  • Admission/ tuition fee
  • Boarding & Lodging
  • Caution Deposit
  • Examination, Library, Laboratory Fee
  • Insurance for a loan amount
  • Purchase of Books, Equipment, Instruments
  • Any other expense reasonable and found necessary to complete the course certified by the institute.

Repayment:

Applicants have to repay the loan up to 7 years. Applicants may also get a Moratorium period of 6 months from completion of courses or getting employment, whichever is earlier.

Green Business Scheme (GBS):

The green business scheme is to provide financial assistance to those who want money to earn income and can tackle climate change as well. Under this scheme, the need-based loan will be given for the project cost up to Rs.30 Lakh. The loan will be sanctioned up to 90% of the project cost to the eligible applicants.

Eligibility criteria:

  • Applicant must belong to schedule cast
  • The annual income of the family of the applicant must be below Rs.300000.

Indicative Schemes

  • Battery electric vehicle (E-rickshaw)
  • Compressed air vehicle
  • Solar energy gadgets
  • Poly houses

Interest Rate

Project Cost   Interest per Annum
SCA/CA Beneficiary
Up to Rs. 7.50 Lakh 2% 4%
Above Rs. 7.50 lakh & up to Rs. 15.00 lakh 3% 6%
Above Rs. 15.00 lakh & up to Rs. 30.00 lakh 4% 7%

Repayment:

Repayment of loan is to be done within 10 years including moratorium period of 6 Months. Loan repayment will be done by paying quarterly installments. Additional moratorium periodof 120 days is allowed to SCA for fund Utilization.

How to Apply for the NSFDC Loan schemes:

  • First of all, visit National Scheduled Castes Finance and Development Corporation website
  • Then go to the schemes option and click on it (available in menu bar)
  • Click on the scheme name from the page opens on the screen
  • Read the details carefully and as you decide to apply for the loan after checking your eligibility submit your loan application to District Offices of State Channelizing Agencies (SCAs).
  • SCAs will forward these applications to their head office after scrutiny.

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