Kerala

Loan scheme for minority communities

The Kerala State Minorities Development Finance Corporation has launched a new loan scheme titled 'Sumithram', offering financial aid for various purposes.

Loans up to ₹5 lakh at 6% interest will be provided for persons from minority communities for the marriage of their daughters. For medical treatment purposes, loans up to ₹5 lakh will be provided at 5% interest rate. Loans at a similar rate will be provided for those who have lost their livelihood due to COVID-19 and want to start a new business or expand the existing one.

In addition, the existing loan schemes have been made more attractive with changes in guidelines. The loan amount for studies abroad as part of a scheme under the National Minorities Development and Finance Corporation has been increased from ₹20 lakh to ₹30 lakh. Loans will be sanctioned for joint applications under the self employment and business expansion schemes.

The income limit for loans for non-resident Keralites has been increased to ₹6 lakh.

The income limit for low-income government employees for loans has also been increased to ₹6 lakh. The applications for home loans can be submitted any time, and the interest rate has been reduced from 8% to 6%.

For details, contact - 04712324232, 9656360334.


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Printable version | Oct 26, 2021 1:07:12 PM | https://www.thehindu.com/news/national/kerala/loan-scheme-for-minority-communities/article36237906.ece

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