New Swarnima Scheme 2023 ~ Loan Apply Online, Interest Rates

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The Swarnima Scheme was launched by the National Backward Classes Finance and Development Corporation (NBCFDC) for the benefit of women. Term loans will be provided under this initiative to female business owners that fall within the target population (backward classes). The system is implemented by the State Channelizing Agency (SCA), which acts as the nodal agency. Read on for more information about the New Swarnima Scheme for Women, including its highlights, features, benefits, eligibility requirements, documents required, financing structure, application procedures, and much more.

New Swarnima Scheme for Women Key Highlights

NameNew Swarnima Scheme for Women
Introduced byNational Backward Classes Finance and Development Corporation (NBCFDC)
Implemented byState Channelizing Agency (SCA)
Beneficiariesfemale entrepreneurs from underprivileged classes
ObjectiveProviding women with social and financial stability
Official WebsiteClick Here

New Swarnima Scheme for Women 2023

In order to give female business owners from lower socioeconomic levels access to loans up to 2,000 rupees per month at 5% yearly interest, the Ministry of Social Justice and Empowerment established the New Swarnima Scheme for Women. The State Channelizing Agencies (SCAs), which operate as the program’s nodal agency, are in charge of carrying out the program’s implementation. It was created by the National Backward Classes Finance and Development Corporation (NBCFDC).

The objective of Swarnima Scheme 2023

The major objective of the portal is to encourage self-reliance in women from disadvantaged classes through term loans.

Benefits for Swarnima Scheme 2023

  • The Benefits of this scheme are given below:
  • The objective of this scheme is to improve living conditions.
  • To give the state’s women social and financial stability.
  • To enable the recipient to lead a life of financial independence.

Eligibility Criteria

The Eligibility Criteria for this scheme are given below:

  • The candidate has to be a FEMALE
  • The applicant’s age must fall between 18 and 55
  • The candidate has to be an entrepreneur
  • The applicant’s family must have a total annual income of less than 3 lakh.

Required Documents 

The documents needed for this scheme are given below:

  • The applicant’s Aadhar Card
  • Passport size photograph
  • Residence Certificate
  • Domicile Certificate
  • Ration Card

Financing Pattern

  • Up to 95% of the loan will come from the lender, with the remaining 5% coming from State Channelizing Agencies (SCAs) or beneficiary contributions.
  • The loan’s distribution date plus four months constitute the utilization term.

Interest Rate

The Interest Rate under the scheme is given in the table below:

NBCFDC to SCA2% per annum
SCA to Beneficiary5% per annum

Return of the Loan

The loan sum must be repaid in four years of quarterly payments, plus a moratorium period of six months before the principal is payable.

Steps to Apply for New Swarnima Scheme for Women

To apply for Swarnima Scheme for Women, the user needs to follow the below-given steps:

  • Go to the SCA office that is nearest to you first.
  • Get the Swarnima Scheme for Women application form from the competent authority.
  • Now, complete the form with all the necessary information.
  • Also, specify your needs, your preferred profession, and any training requirements
  • After that, attach all the required documents with the application form
  • Now, review and recheck the application form to avoid any mistakes
  • Submit the form to the concerned official of the SCA office
  • Finally, SCA will approve the loan after verifying the application

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