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Rajasthan: Term Loan Scheme For Minorities

Rajasthan: Term Loan Scheme For Minorities

scheme June 20, 2016 166 Views

Rajasthan Minority Finance and Development Co-operative Corporation Limited (RMFDCCL) has launched a Term Loan Scheme to provide term loan at moderate interest rates for self employment with the object to promote economic and developmental activities for the benefit of “Backward Sections” amongst the minorities.

Eligibility:

  • Projects costing up to Rs. 10.00 Lakhs are considered for financing and the scheme is for individual beneficiaries.
  • Any commercially viable and technically feasible ventures such as Agriculture & allied, Technical trades, Small business, Artisan and traditional occupations and Transport and services sector are eligible to avail the benefits of the scheme.

Benefits:

  • NMDFC will provide loan to the extent of 90% of the project cost subject to a maximum of Rs. 9 Lakhs.
  • The remaining cost of project is met by the SCA and the beneficiary. However the beneficiary has to contribute minimum of 5% of the project cost.
  • The rate of interest charged from the beneficiary is 6% p.a. on reducing balance method.

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