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Rate of Interest at a Glance

National Backward Classes Finance and Development Corporation (NBCFDC)

(Schemes, Pattern of Finance & Rate of Interest w.e.f. 1.4.2018)

(i)

Term Loan

i)              General Loan

ii)             New Swarnima for Women

iii)            Education Loan

(ii)

Micro Finance

iv)           Mahila Samridhi (For exclusive women SHGs)

v)            Micro Credit (For mixed SHGs)

vi)           Small Loan for individual 

 

S.No.

Name of Scheme

Max. Loan Limit

Per Beneficiary

Pattern of Finance

Rate of Interest

Per Annum.

Repayment Period (including moratorium period of six months).

NBCFDC

SCA/Benef.

SCAs/Bank

Benef.

 

8 Years

 

1.

 

Term Loan (General)

 

Rs.10.00 Lakh

85%

15%

Upto Rs.5 Lakh

3%

6%

 

 

 

Above Rs.5 Lakh

4%

7%

2.

Education Loan

a.    India

 

Rs.10.00 Lakh

90%

10%

 

1%

 

4%*

Max. 15 Years

( As per banking norms)

b.    Abroad

 

Rs.20.00 Lakh

85%

15%

1%

4%*

 

 

 

 

Repayment period shall commence after six months of completion of course or getting job whichever is earlier.

3.

New Swarnima Scheme

Rs.1.00 Lakh

95%

05%

2%

5%

8 Years

4.

Micro Finance

Rs.60,000/-**

90%

10%

2%

5%

4 Years

5.

Mahila Samridhi Yojana for women

Rs.60,000/-**

95%

05%

1%

4%

4 Years

6.

Small Loan for individual

Rs.60,000/-

85%

15%

3%

6%

8 Years

       

In case of Banks, NBCFDC loan will be available upto 100%, however, disbursement will be made as per specific demand of Channel Partners.

  1. Advance funds. The advance funds should be utilized within 120 days and utilization certificate be submitted accordingly.

 

  1. Refinance: The amount of refinance should be appropriated in the beneficiaries aadhar seeded loan account within 10 working days of drawal from NBCFDC as per Rate of Interest of NBCFDC scheme.
  • Banks may claim refinance of outstanding balance under Education Loan irrespective of year of loan disbursement.
  • For other schemes refinance can be claimed for the loan disbursed during current financial year only.

 

  • *Rate of interest 3.5% p.a. for girl student.

 

Slab-wise rate of interest: -        Utilization (No. of days)                                    Rate of Interest (Per Annum)

                                                          1-120 days                                                           3%

                                                        121-180 days                                                         6%

The Channel Partners are required to refund the un-utilized funds in case the advance funds are not utilized within 180 days of release and will be charged interest @ 8% p.a. from 180 days up to date of refund.

**Subject to maximum of Rs.10.00 Lakh per group.

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Last Updated On : 2018-12-06 05:03:39