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Government Sponsored Scheme Loans

Government Sponsored Scheme Loans

Loans may be provided to the customers who are recommended by the Government Sponsored Scheme likewise DIC Loan, SJSRY, BC Corporation loans, etc., against the Government surety undertaking. The Subsidy will be provided by the Govt. under the Scheme, which is kept as back-end only, after fully settled the loan amount, the Subsidy will be adjusted.

The customer should remit entrance fee of 5/- and enroll as “C” Class.
Member should obtain shares of 100/- @ 10/- per share,
The applicant belongs to Below Poverty Line (BPL) family will be eligible for the above Government Sponsored Scheme Loans.
The applicant should have technical qualification for applying the above said Govt. Sponsored Scheme loans which will be forwarded by District Industries Centre (DIC).
SJSRY, BC Corporation loans will be sponsored by the Government along with Subsidy.
The loan will be sanctioned by the Bank only on receipt of the Subsidy from the Government.
The applicant should furnish a Government Surety for this loan and an undertaking should be given by the Surety.
The loan amount should be repaid in 36 equal monthly installments.
The rate of interest @ 14% per annum.
An indemnity bond should be executed by the Surety noting that the loan amount will be repaid, if the applicant has failed to repay the loan.
Recently taken Passport size photographs – 2 Nos.
Copy of Family Ration Card – 1 No. with self-attestation (both for applicant & Sureties).
Copy of Aadhaar Card -1 No. with self-attestation (both for applicant & Sureties).
Copy of Identity card issued by the Elections Department(both for applicant & Sureties).
The Surety should submit the Pay Certificate issued by the Pay Drawing Officer of the Department concerned.