A loan scheme by Ministry of Social justice and Empowerment for Entrepreneur of Scheduled Caste Category.
A loan scheme by Ministry of Social justice and Empowerment for Entrepreneur of Scheduled Caste Category.
The scheme "Credit Based Schemes For SC - Term Loan (TL)" by the National Scheduled Castes Finance and Development Corporation (NSFDC), Government of India, aims to provide financial assistance for income-generating activities and economic development of Scheduled Caste beneficiaries. Through this scheme, term loans are provided for viable projects with a unit cost of up to ₹50,00,000/-. The scheme is implemented by the National Scheduled Castes Finance and Development Corporation through State Channelising Agencies, Regional Rural Banks, Public Sector Banks, and other channelising agencies. Financial assistance is available for projects across various sectors, subject to appraisal and viability assessment. NSFDC provides assistance for up to 95% of the project cost, while the beneficiary contributes the prescribed promoter contribution. Subsidy may also be available to eligible beneficiaries living below the poverty line, subject to prescribed limits.
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1. Financial assistance of up to 95% of the project cost for income-generating activities, subject to a maximum project cost of ₹50,00,000/-.
1. The beneficiary is required to contribute:
2% of the project cost for projects up to ₹5,00,000/-;
3% for projects above ₹5,00,000/- and up to ₹10,00,000/-;
5% for projects above ₹10,00,000/-.
1. Beneficiaries living below the poverty line may receive a subsidy of ₹10,000/- or 50% of the unit cost, whichever is less.
1. Interest rates payable by beneficiaries are:
6% per annum for loans up to ₹5,00,000/-;
8% per annum for loans above ₹5,00,000/- and up to ₹10,00,000/-;
9% per annum for loans above ₹10,00,000/- and up to ₹50,00,000/-.
> Mode of Disbursement: Through State Channelizing Agencies, Regional Rural Banks, Public Sector Banks, and other channelizing agencies associated with NSFDC.
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Step 1: Offline application
The interested eligible person shall contact the nearest Channelling Agency (https://nsfdc.nic.in/channel-patrners/ ). > Indicative Format: https://nsfdc.nic.in/UploadedFiles/other/form/termloan-english.pdf 1. The loan applications are to be submitted by the eligible target group (Scheduled Castes persons having annual family income up to Rs. 3.00 lakhs ) to the District Offices of State Channelising Agencies (SCAs). 1. The District Offices of SCAs/CAs forward these applications, after scrutiny, to their Head Offices. The viability of the project proposals is appraised by the SCAs, and the viable projects are forwarded to NSFDC along with their recommendations for sanction. 1. Eligible target group can also submit their loan application to other Channelising Agencies of NSFDC, such as Regional Rural Banks/ Public Sector Banks/ NBFC-MFIs, etc., with whom NSFDC has signed Memoranda of Agreements. 1. The said project proposals are appraised by the Project and Banking Desk. The appraisal report is submitted to the Project Clearance Committee (PCC) for their concurrence. 1. The proposals that are found to be in order are recommended for sanction. After sanction, Sanction Letters, called Letters of Intent (LOIs), along with Terms & Conditions, are issued to the SCAs/ RRBs/ Public Sector Banks/ NBFC-MFIs, etc. for acceptance. 1. After acceptance of the terms and conditions of the sanction and fulfilment of Prudential Norms, as applicable, funds are disbursed to the SCAs/ RRBs/Nationalised Bank for onward disbursement to the beneficiaries. 1. The disbursement of funds is made by NSFDC on receipt of demand from the SCAs/ RRBs/ Public Sector Banks/ NBFC MFIs. The loans are to be repaid by the beneficiaries as per the repayment schedule stipulated by the SCAs/CAs. <br>
The Term Loan (TL) Scheme is a financial assistance scheme of the National Scheduled Castes Finance and Development Corporation (NSFDC) that provides loans for viable income-generating activities. <br>
The scheme is implemented by NSFDC through State Channelizing Agencies, Regional Rural Banks, Public Sector Banks, and other channelizing agencies. <br>
The scheme covers projects with a cost of up to ₹50,00,000/-. <br>
Financial assistance of up to 95% of the project cost may be provided, subject to the scheme guidelines. <br>
Yes. The beneficiary is required to contribute 2%, 3%, or 5% of the project cost, depending on the project amount. <br>
Yes. Beneficiaries living below the poverty line may receive a subsidy of ₹10,000/- or 50% of the unit cost, whichever is less. <br>
The interest rate ranges from 6% to 9% per annum, depending on the loan amount sanctioned. <br>
Applications can be submitted through the District Offices of State Channelising Agencies or participating Regional Rural Banks, Public Sector Banks, and other channelising agencies associated with NSFDC. <br>
The application and project proposal are scrutinised and appraised for viability by the concerned agency before being considered for sanction. <br>
After approval and completion of the prescribed formalities, the loan amount is disbursed through the concerned channelising agency. <br>
Applications are accepted only on the official government portal.
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