Individual Loan Scheme
National Backward Classes Finance & Development Corporation
(A Govt.of India Undertaking, Ministry of Social Justice & Empowerment)
Individual Loan Scheme
Objectives
The loans under Corporation's schemes can be provided for income generating activities, following the due processes of the concerned Channel Partner. The activities could be anything which have potential to provide sustainable income generation for the beneficiary.
Eligibility
a) Members of Backward Classes, as notified by Central Government/State Governments from time to time.
b) Applicant's annual family income should be upto Rs. 3.00 Lakh.
Salient Features
Maximum loan limit : Rs. 15.00 Lakh (per beneficiary)
Pattern of Finance
(i) NBCFDC Loan: 85%
(ii) Channel Partner/Beneficiary Share: 15%
Rate of Interest & Repayment Period
| Particular | NBCFDC to Channel Partner | Channel Partner to Benef. | Repayment Period |
|---|---|---|---|
| I. For income generating activities | |||
| (i) Upto Rs. 1.25 Lakh | 4% p.a. | 7% p.a. | 4 year |
| (ii) Rs.1.25 Lakh to Rs.15.00 Lakh | 5% p.a. | 8% p.a. | 7 year |
| II. For Education | |||
| (i) Upto Rs.15.00 Lakh | 5% p.a. | 8% p.a. | Max. 10 years (inclusive of 5 year moratorium period) |
Note : Timely payment rebate on annual basis @1% to be equally appropriated between Channel Partners and Beneficiaries
