Institute / Franchise Development Loan to reputed organisations

The objective of the scheme is to assist reputed organisation held by persons belong to backward classes and minorities for house maintenance.

Quantum of Loan
This scheme is an own fund scheme of the corporation. Maximum loan amount available under the Scheme is Rs.2,50,000/- (Rupees Two Lakh Fifty Thousand only) subject to 50% of the project cost.

Eligibility
1.The applicant must belong to any one of the notified other Backward Classes or minority communities of the state.
2.The annual family income of the applicant must be below Rs.3,00,000/-
3.The age of the applicant should be between 18 and 55 years.

Rate of interest and repayment
The rate of interest is 8.5%. The entire loan amount shall be repaid within a period of not exceeding 60 months in equated monthly installments .