________________
to a maximum of Rs. 18.00 lacs. The remaining cost of project is met by the SCA and the beneficiary. However the beneficiary has to contribute minimum of 5% of the project cost. The rate of interest charged from the beneficiary is 6% p.a. on reducing balance method. Assistance under Term Loan Scheme is available for any commercially viable and technically feasible venture, which for the purpose of convenience, are classified into the following sectors. a. Agriculture & allied b. Technical trades
Small business
Artisan and traditional occupations, and e. Transport and services sector
S. N.
Parameters
Scheme Details
Loan Amount
Up to Rs. 20.00 Lakhs
2
Rate of Interest for beneficiaries
6% p.a.
Rate of Interest for SCAs
3% p.a.
Moratorium period
6 months
5
Repayrnent period for beneficiaries
5 years
6
Repayment period for the SCAs
8 years
7
Means of Financing NMDFC: SCA: Benef. 90: 5:5 Contribution Utilization Period 3 Months
3 Months
(ii) Educational Loan Scheme :
This scheme is also for the individual beneficiaries and is implemented through the SCAs. The NMDFC extends educational loans with an objective to facilitate job oriented education for the eligible persons belonging to Minorities. Under this scheme, loan of up to Rs. 15.00 Lakhs is available at the rate Rs. 3.00 lakhs p.a. for 'technical and professional courses of durations not exceeding five years. Further, for courses abroad, maximum amount of Rs.20.00 lakhs is available @ Rs.4.00 lakhs per annum for a course duration of maximum 5 years. Funds for this purpose are made available to the SCAs at an interest rate of 1 % p.a. for on-lending to the beneficiaries at 3% interest p.a. The loan is payable in maximum five years after completion of the course.
90
Minority Ben
