In a bid to foster self-reliance among women, the Modi government has recently introduced the New Swarnima Loan Scheme. This initiative, spearheaded by the National Backward Classes Finance and Development Corporation (NBCFDC), aims to empower economically disadvantaged women from backward classes.
Key Features of the New Swarnima Loan Scheme
Under this scheme, women with an annual family income of up to Rs 3 lakh can avail themselves of a maximum loan amount of Rs 2 lakh. What sets this scheme apart is the government’s provision of a nominal 5 percent annual interest rate, significantly lower than standard rates. Additionally, borrowers benefit from a unique repayment structure, with EMIs scheduled every three months instead of the traditional monthly intervals.
Flexible Repayment and Extended Tenure
The New Swarnima Loan Scheme allows borrowers to repay the loan over a comfortable tenure of 8 years, providing flexibility and easing financial burden. This extended period enhances the feasibility for women from backward classes to start their small businesses or meet various expenses, including education-related costs.
How to Access Information and Apply
For comprehensive details about the scheme, individuals can reach out to the toll-free number 18001023399 or visit the official website at www.nbcfdc.gov.in. This platform serves as a valuable resource for understanding the application process and eligibility criteria.
Documents Required for Scheme Enrollment
To benefit from the New Swarnima Loan Scheme, applicants need to furnish essential documents, including Aadhar Card, PAN Card, Voter ID Card, Caste Certificate, Income Certificate, and Residence Certificate. These documents play a crucial role in ensuring the seamless processing of loan applications.
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