Term Loan Scheme Gujarat: Our country India is an agricultural country and a country that is advancing ways of getting money connected with traditional activities. But from time to time agriculture and traditional activities are disappearing today. So that the people living in our state do not get separated from their main work and do not have to bear the financial burden due to employment incident, Muddti Term Loan Scheme is implemented.
Many loan schemes are run to enable people financially. In today’s article we will get complete detailed information about Term Loan Scheme Gujarat. For this you have to read our article till the end.
The Department of Social and Justice Administration under the Government of Gujarat has implemented a term loan scheme for loans up to a maximum of Rs. .
What is the Eligibility for a Fixed Term Loan?
Applicant should be nomadic or freed caste.
Annual family income limit Rs. 3 lakh will be up to
Out of which ₹. At least 50 percent of the total loan amount will be allocated for families with an annual income of up to ₹1.50 lakh.
Age should be at least 21 years and not more than 50 years.
Must have experience in business and business case with technical and expertise.
The applicant has to provide adequate security to get the loan.
Salient features of the scheme
₹. Interest rate up to P.00 lakh will be 6% per annum
₹. 5.00 to ₹. 10.00 lakh at the rate of interest at 7% per annum
₹. 10.00 lakh to ₹. 15.00 lakh the rate of interest will be 8% per annum.
The beneficiary has to pay 5% of his beneficiary contribution.
No loan will be given for transportation.
Maximum Loan Amount ₹. 15,00,000/- upto.
95% loan will be given on business and business amount.
Documents required for the scheme
Example of nomadic and liberated castes
Applicant’s Aadhaar Card
Letter of guarantee regarding loan
Bank details (cancelled cheque/passbook)
Proof of business
Documents as may be prescribed by the Government from time to time