The interest rate on the loan will be 5% per annum for simple interest and 3% for women.
Scheme Format / Credit Support Standards:
Onroad unit cost for self-employed vehicles like rickshaw, loading rickshaw, maruti ecos, jeep-taxi etc.
For any self-employed business like business or grocery store, medical store, readymade garment store, bookstore etc Rs.
Transport, Logistics, Travellers, Food Court etc. will be eligible for 3% interest subvention on loan of Rs.
Lending Criteria for Self-Employment Schemes
The applicant must have a valid license in the vehicle loan scheme.
The vehicle received will have to be mortgaged on behalf of the corporation.
The loan has to be repaid in equal monthly installments for five years, three months after the receipt of the vehicle.
The small business has to be started within three months of getting the loan and after three months of starting the business the loan will be recovered in equated monthly installments of five years.
Overall Rs. 3.50 lakh or less, the beneficiary will have to bear the burden on his own or relative's property at one and a half times the loan amount.
If the total amount of loan exceeds Rs. 3.50 lakhs, the total amount has to be pledged in favor of Immovable Property Corporation by himself or any other relative.
Each borrower will have to produce five post dated checks signed in favor of the Corporation.
All self-employment schemes will also have the following qualifications.
Applicant must be a native of Gujarat and must belong to non-reserved category.
Applicant's age should be between 18 years to 60 years.
The interest rate on the loan will be 5% per annum, simple interest and 3% for women.
The same amount will be lent every year.
will be treated as per simple interest.
Interest Rate: The interest rate on the loan will be 5% per annum for simple interest and 3% for women.
Educational loan assistance to the extent of Rs. 10 lakh to non-reserved category people, Rs. 1200 food bill assistance to students studying in various courses, tuition assistance of Rs.
15 thousand per year to the students of science stream. JEE, GUJCET, NEET Exam Preparation for Medical Engineering Admission after Standard 12 and Rs. 20 thousand coaching fee assistance as well as loan for medical, engineering, undergraduate, postgraduate courses. 12 abroad Rs. at a lower rate. 1.5 million. Assistance of Rs.20,000 as training aid for competitive exams, five percent interest subvention on loans up to Rs.10 lakh for back loans for doctors, graduates, lawyers. Benefit will be available under the annual income limit of six lakhs.
Income Limit: The annual income limit of the family is Rs. 4.00 lakhs or less.
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