NSFDC loan schemes 2020

NSFDC Loan Schemes 2020 Apply Online – NSFDC Loans Scheme List

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Are you from scheduled caste If yes, then we are providing very important information for your people. Are you looking for loan schemes? Today in this article we are going to make all the schemes available in detail by National Scheduled Castes Finance and Development Corporation. In this article, you can get all the details related to NSFDC loan schemes 2020 like who can apply, how to apply, etc. Scroll to this page to pull it up.

NSFDC loan schemes 2020

National Scheduled Castes Finance and Development Corporation, Ministry of Social Justice and Empowerment, Govt. India’s (NSFDC Loan Schemes) has taken an initiative to support scheduled castes by launching various loan schemes. The names of the schemes provided by NSFDC are as follows:

  • 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

Brief Info of NSFDC Loan Schemes 2020

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 NSFDC Loan Schemes 2020

A 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 SCA is required to make its own contribution to the aid as per its plans. Further providing necessary subsidies to tie up financial resources from other sources available. This loan will be provided to the beneficiaries for 10 years. Applicants can repay the loan by paying quarterly / half-yearly / annual installments. The moratorium period is 6 to 12 months depending on the nature of the business. Interest will be charged on the principal amount of the loan as follows:

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%

Micro Credit Finance (MCF):

The corporation will provide loan for the project costing up to Rs. 60000. Small-income finance will be provided for small income generating activities. Loan up to 90% of the project cost will be sanctioned. SCAs have to pay 2% and beneficiaries pay 5% interest rate per year. The applicants will have to repay the loan amount within 3 years. Installments are to be paid quarterly from the date of each disbursement including the moratorium period. The moratorium period for MCF is 3 months.

Mahila Samridhi Yojana (MSY):

MahilaSamriddhiYojana is the same as micro credit finance especially for low rate women only. Loan will be provided for the project costing up to Rs. 60000. Loan up to 90% of the project cost will be sanctioned. SCAs have to pay 1% and beneficiaries pay 4% interest rate per year. Applicants will have to repay the loan amount within 3 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 exclusively for women in rural areas. The plan is to take up activities related to agriculture and / or mixed farming. Project costing up to Rs. 200000 / -. Loans up to 90% of the project cost will be given at 2% from the SCA interest rate and 5% from the beneficiaries per annum. The loan is to be repaid within 10 years from the date of each disbursement with a moratorium period of 12 years. The loan will be repaid by paying quarterly installments.

Shilpi Samridhi Yojana (SSY):

The Shilpi Samriddhi Yojana is meant to provide financial support for small income generating activities, where the project cost is Rs. 200000 / -. Loan up to 90% of the project cost will be given. The rate of interest is 2% from SCA and 5% from beneficiaries every year. The loan is to be repaid within 6 years from the date of each disbursement withholding within 6 months. The loan will be repaid by paying quarterly installments.

Laghu Business Plan (LVY):

Under this scheme, financial assistance will be given where the unit cost is Rs. 5 lakhs. A loan up to 90% of the project cost will be sanctioned at 3% annual interest rate for SCA and 6% annual interest rate will be given to the beneficiaries, which will have to be repaid from the date of deferment of 6 years including 6 years rate. Month by paying quarterly installments.

Educational Loan Scheme (ELS):

Education loan scheme is to provide financial assistance to students who are pursuing full-time vocational / technical courses. Loans up to Rs. 10 lakh for students studying within India and Rs. 20 lakhs for students studying from outside India. Repayment of loans up to Rs. 7.50 lakh is within 10 years and loan above Rs. 15 lakh is within 15 years. The moratorium period of loan repayment is 6 months after completing the course or getting employment which is earlier. Interest will be charged on the principal amount of the loan as follows:

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):

The VETLS scheme is meant to provide financial assistance to applicants who wish to pursue vocational education and training. The loan will be given up to Rs 4 lakh for a period of 2 years. The rate of interest is 1.5% per year from the channeling agency and 4% from the beneficiaries. In case of women, a discount of 0.5% will be given.

Eligibility criteria:
  • Applicant should belong to Scheduled Caste
  • The annual income of the applicant’s family is Rs. Must be less than 300000.
  • The student must have taken admission in the course by a ministry / department / government organization or a company / society / organization supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations.
  • There is no age restriction regarding the minimum age to apply for a loan. If the student is under 18, the parent can carry out the loan process
  • The upper age limit for applying for loan is 50 years.
Expenses to be considered for vocational education and training courses
  • Admission / tuition fee
  • Boarding and lodging
  • Caution deposit
  • Examination, Library, Laboratory fee
  • Insurance for loan amount
  • Purchase of Books, Equipment, Equipment
  • Any other expenditure was found to be necessary to complete the course as certified by the Institute.
Repayment:

Applicants will have to repay the loan for 7 years. Applicants can get a moratorium period of 6 months from completing the course or getting employment, whichever is earlier.

Green Business Scheme (GBS):

The Green Business Plan is to provide financial assistance to those who want money to earn income and can also deal with climate change. Under this scheme, need-based loan will be provided for project cost up to Rs 30 lakh. The eligible applicants will be sanctioned loans up to 90% of the project cost.

Eligibility criteria:
  • Applicant should belong to Scheduled Caste
  • The annual income of the applicant’s family is Rs. Must be less than 300000.
Indicator schemes
  • Battery Electric Vehicles (E-Rickshaws)
  • Compressed air vehicle
  • Solar power gadget
  • Poly House

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:

The loan must be repaid within 10 years, including a moratorium period of 6 months. The loan will be repaid by paying quarterly installments. SCA is allowed an additional moratorium period of 120 days for the use of the fund.

How to apply for NSFDC loan schemes:

  • First, visit the website of National Scheduled Castes Finance and Development Corporation
  • Then go to the plans option and click on it (available in the menu bar)
  • Click on the scheme name from the page that 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 the district offices of the state channelizing agencies (SCAs).
  • SCAs will send these applications to their head office after investigation.

Important Links:

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