Ever since the Modi government came to power in the country, the government has been continuously launching various schemes for the upliftment of women. These schemes have saved many women, and today they are feeling financially independent.
The government also created many schemes to provide business loans to women to start businesses. In this sequence, the government started the New Swarnima Loan Scheme. In which women are given a business loan of Rs 2 lakh to do business.
What is Swarnima Loan Scheme?
Under this scheme run by the National Backward Classes Finance and Development Corporation (NBCFDC), backward class women whose annual family income is less than Rs 3 lakh are given loans up to Rs 2 lakh for doing business. Very low interest rate has been kept on this loan.
Who can take Swarnima Loan?
This scheme of the Government of India has been started only for women. In which to apply, the following conditions have to be fulfilled:
- Swarnima Yojana is only for backward class women.
- The minimum age of the female applicant should be 18 years.
- The annual family income of the applicant woman should be less than Rs 3 lakh.
Rate of interest
The maximum loan amount under the scheme can be Rs 2 lakh per beneficiary, of which 95% is contributed by the NBCFDC department and the remaining 5% is contributed by the channel partner.
The interest rate of the loan is as follows:
From NBCFDC to Channel Partner: 2% per annum
From Channel Partner to Beneficiary: 5% per annum
A maximum time of 8 years is given to repay the loan in which the loan is to be repaid in quarterly installments.
How to apply for Swarnima Yojana?
- The applicant will have to go to the nearest SCA office and apply for Swarnima Yojana by filling the prescribed form. You can find your nearest SCA office on this link – https://nsfdc.nic.in/channel-patrners/scas
- After visiting the link, you will have to type the name of your state in the search bar above. Then below you will find the address, email and mobile number of your nearest SCA office.
- You can also physically visit this office or apply for the loan online by clicking on the website link. (if present)
- Enter the required details in the application form and mention the needs and options of business and training requirements, if any.
- Submit your application form and required documents in the same SCA office. The loan will be approved by SCA after reviewing the application.
For more information about Swarnima Loan Scheme, you can contact toll free number 18001023399. You can get more information by visiting the websites of other states.