Sarkari Yojana
Term Loan Scheme of NMDFC
About Term Loan Scheme of NMDFC
NMDFC’s Term Loan Scheme extends credit for economically viable income-generation ventures. Beneficiaries can access loans up to ₹20,00,000/- under Credit Line-1 at 6% p.a., or up to ₹30,00,000/- under Credit Line-2 at 8% p.a., with women beneficiaries under Credit Line-2 getting a 2% concession.
Scheme Overview
Central Government
Ministry Of Minority Affairs
National Minorities Development & Finance Corporation
Individual
Scheme Details
Eligibility Requirements
To qualify for Term Loan Scheme of NMDFC, applicants must satisfy the following conditions:
The applicant must be an Indian national belonging…
The applicant must be an Indian national belonging to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain.
The annual family income must not exceed
The annual family income must not exceed: ₹3.00 lakh per annum under Credit Line–1. ₹8.00 lakh per annum under Credit Line–2.
The applicant must be at least 18 years…
The applicant must be at least 18 years old and capable of taking up self-employment.
The applicant must have no outstanding loan or…
The applicant must have no outstanding loan or default under any Central/State Government financing scheme.
The project proposal must be economically viable and…
The project proposal must be economically viable and technically feasible.
The applicant must hold a valid Aadhaar-linked bank…
The applicant must hold a valid Aadhaar-linked bank account, along with residence proof, an income certificate, and a minority community certificate from a competent authority.
Women, youth, and occupational groups within minority communities…
Women, youth, and occupational groups within minority communities receive preference.
Insuring the borrower and the financed assets is…
Insuring the borrower and the financed assets is mandatory under NMDFC guidelines.
Benefits Provided
Term Loan Scheme of NMDFC provides the following benefits to eligible applicants:
Minority community beneficiaries receive credit at concessional…
Minority community beneficiaries receive credit at concessional rates.
Documents Required
Applicants should keep the following documents ready before starting the application:
A duly filled loan application form (as prescribed…
A duly filled loan application form (as prescribed by the SCA/Bank).
Recent passport-size photographs of the applicant and co-applicant…
Recent passport-size photographs of the applicant and co-applicant (if any).
Proof of minority status
Proof of minority status: a self-declaration or certificate from a competent authority.
An income certificate issued by a competent authority…
An income certificate issued by a competent authority (Tehsildar/SDM).
Residence proof
Residence proof: Aadhaar card, Voter ID, Ration Card, or utility bill.
Identity proof
Identity proof: Aadhaar card/PAN card.
A project report or business plan detailing the…
A project report or business plan detailing the purpose, cost, and financial viability.
Bank account proof
Bank account proof: a cancelled cheque or the first page of the passbook (Aadhaar-linked).
A quotation/estimate for machinery, equipment, or raw materials,…
A quotation/estimate for machinery, equipment, or raw materials, as applicable.
A No Dues Certificate from other financial institutions,…
A No Dues Certificate from other financial institutions, if required.
An affidavit/self-declaration confirming no loan has been availed…
An affidavit/self-declaration confirming no loan has been availed under other government schemes.
An insurance document, if available at submission, or…
An insurance document, if available at submission, or after sanction otherwise.
How to Apply
Offline Application
Applicants can apply for Term Loan Scheme of NMDFC through the offline application process outlined below.
Application Process
NMDFC delivers its schemes and programmes through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA) nominated by the respective State Governments, and Banking Partners (currently Canara Bank & Punjab Grameen Bank).
Exclusions / Who Is Not Eligible
- Other than Six Notified minority communities having annual family income of more than Rs. 3.00 Lakhs under credit line 1 and of more than Rs.8.00 Lakhs under credit line 2.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.