National Minorities Development and Finance Corporation (NMDFC), a Central Public Sector Enterprise under this Ministry provides concessional loans to minorities for self-employment and income generating ventures, through the State Channelising Agencies (SCAs) nominated by the respective State Governments/UT Administration.For availing assistance under NMDFC schemes, the annual family income eligibility criterion under Credit Line-1 is Rs.81,000 for rural areas and Rs.1.03 lakh for urban areas. Higher annual family income eligibility criterion of upto Rs.6.00 lakh has also been introduced as Credit Line-2, for increasing coverage of beneficiaries under NMDFC schemes. The details of thelending schemes and loan limit therein is as under:-
1.Term Loan:- Maximum Loan of up to Rs.20.00 Lakh per beneficiary is available under Credit Line-1 at an interest rate of 6% per annum. Higher loan of maximum up to Rs.30.00 Lakh per beneficiary is available under Credit Line-2 at an interest rate of 8% per annum for male beneficiaries and 6% per annum for female beneficiaries.
2.Micro Finance:- Maximum loan upto Rs.1.00 lakh per SHG member is available under Credit Line -1 at an interest rate of 7% per annum. Higher loan of maximum upto Rs.1.50 lakh per SHG member is available under Credit Line-2 at an interest rate of 10% per annum for male beneficiaries and 8% per annum for female beneficiaries.
- 3. Education Loan:- The Educational Loan of upto Rs.15.00 lakh (Rs.20 lacs for courses abroad) is available at an interest rate of 3% per annum for pursuing technical and professional courses with maximum course duration of 5 years. Higher Educational Loan of upto Rs.20.00 lakh (Rs.30 lakh for courses abroad) under Credit Line-2 is available at an interest rate of 8% per annum for male candidates and at 5% per annum for female beneficiaries.
4.Mahila Samridhi Yojana:- Skill development training is imparted to group of women in women friendly trades. Training period is of maximum 6 months with training and raw material cost of upto Rs.1,500 per women and stipend @ Rs.1,000 per women.
During the period of training, the women are formed into Self Help Group, followed by infusion of micro-credit maximum upto Rs.1.00 lakh per member for the purpose of using the skill developed during the training, for income generation activities.