New Swarnima for Women
Objectives
Inculcating the spirit of self-dependence among the women of backward classes living below double the poverty line under Term Loan.
Salient Features
- The target group of the New Swarnima scheme of NBCFDC is the women belonging to Backward Classes living below double the poverty line.
- The beneficiary women is not required to invest any amount of her own on the projects upto cost of Rs.1, 00,000/.
- The rate of interest on the amount of loan is less as compared to the general loan scheme of the Corporation.
Eligibility
- The women belonging to Backward Classes as notified by the Central / State Governments from time to time shall be eligible for loan under this scheme.
- The annual family income of the applicant is fixed as Rs.3.00 Lakh. The SCAs/Banks are requested to release atleast 50% of total funding to persons with annual family income upto Rs.1.50 Lakh.
Maximum Loan Amount Rs.1.00 Lakh (Per beneficiary)
Pattern of Financing
NBCFDC Loan 95%
SCA Contribution 05%
Rate of Interest
From NBCFDC to SCA 2% p.a.
SCA to beneficiary 5% p.a.
Repayment
Loan is to be repaid in quarterly instalments within 4 Years (including the moratorium period of six months on the recovery of principal).