6% Interest Subsidy on Loans taken through Banks up to a Limit of Rs.5 Lakh for Self-Employment in Hubli Dharwad
6ISLBSE
Gujarat Tribal Development Corporation, Government of Gujarat
Guidance for businesses in Hubli Dharwad
The scheme aims to promote self-employment among scheduled tribe (ST) individuals by making business loans affordable. Under this scheme, ST beneficiaries availing loans for self-employment are provided a interest subsidy to reduce financial burden and encourage entrepreneurship.
At a glance
- Scheme Name
- 6% Interest Subsidy on Loans taken through Banks up to a Limit of Rs.5 Lakh for Self-Employment
- Implementing Body
- Gujarat Tribal Development Corporation
- Target Audience
- Scheduled Tribe (ST) individuals in Gujarat's tribal areas
- Purpose
- Self-employment / business
- Subsidy
- 6% interest subsidy on bank loans
- Maximum Loan
- ₹5,00,000
Benefits
Interest Subsidy:
- 6% interest subsidy on loans taken through banks.
Maximum Loan Eligible:
- ₹5,00,000/-.
Eligibility
- The applicant must belong to the Scheduled Tribe (ST) category.
- The applicant must be a resident of tribal areas in Gujarat.
- The applicant must have availed a bank loan for self-employment purposes.
Documents required
- Aadhaar Card
- Bank Passbook/Cancelled Cheque
- Caste Certificate
- Loan Approval Letter
- Passport-size Photos
How to apply
- 1
The interested applicant should visit (during office hours) at the office of the Project Administrator, Gujarat Tribal Development Corporation, Gandhinagar, and all tribal district offices and request a hard copy of the prescribed format of the application form from the staff exclusively entrusted to issue and collect filled-in applications.
- 2
In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attestted, if required).
- 3
Submit the duly filled and signed application form along with the documents to the office of the Tribal District Sponsorship Administrator.
- 4
Request a receipt or acknowledgment from the office of the Tribal District Sponsorship Administrator to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
About the scheme
The “6% Interest Subsidy on Loans taken through Banks up to a Limit of Rs.5 Lakh for Self-Employment” is a scheme by the Gujarat Tribal Development Corporation aimed at making self-employment loans affordable for Scheduled Tribe (ST) individuals in Gujarat's tribal areas.
The scheme provides a 6% interest subsidy on bank loans up to a maximum of ₹5,00,000 taken for self-employment or business purposes, reducing the financial burden on tribal entrepreneurs and encouraging entrepreneurship.
Why it matters
- Affordable Business Loans:
- A 6% interest subsidy lowers the cost of self-employment loans.
- Encourages Entrepreneurship:
- Supports ST individuals in starting their own ventures.
- No Income Limit:
- There is no income ceiling to apply.
- Open to All Genders:
- Available to all ST applicants regardless of gender.
Focus areas
- Self-Employment:
- Support for ST individuals starting their own ventures.
- Interest Subsidy:
- 6% subsidy on bank loans up to ₹5,00,000.
- Tribal Entrepreneurship:
- Encouraging entrepreneurship among Gujarat's ST community.
Is this scheme right for you?
The “6% Interest Subsidy on Loans up to Rs.5 Lakh for Self-Employment” scheme is a strong incentive for Scheduled Tribe individuals in Gujarat to start their own ventures. By subsidising 6% of the interest on self-employment loans up to ₹5,00,000, the scheme makes entrepreneurship more affordable. If you are an ST resident of Gujarat's tribal areas with a self-employment loan, this scheme can help reduce your financial burden.
Frequently asked questions
Who is eligible for this scheme?
Only Scheduled Tribe individuals from Gujarat who have taken bank loans for self-employment.
What is the maximum loan amount eligible for subsidy?
The maximum loan amount of ₹5,00,000 with 6% interest subsidy.
Is there an income limit for applicants?
No, there is no income limit.
What type of loans are covered under this scheme?
Loans taken for self-employment or business purposes approved by the Corporation.
Can both men and women apply for this scheme?
Yes, it is open to all ST applicants regardless of gender.
Where can the application form be obtained?
From the Project Administrator's office in Gandhinagar or tribal district offices.
What documents are required?
Aadhaar card, caste certificate, loan approval letter, bank passbook, and passport size photos.
Where should the application be submitted?
The application submitted at the office of the Tribal District Sponsorship Administrator.
Is there any cost for the application form?
No, it is free of cost.
Who implements the scheme?
The scheme implemented by the Gujarat Tribal Development Corporation.
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