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  • Mahila Samridhi Yojana

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  • Mahila Samridhi Yojana is a loan scheme for the underprivileged women who belong to the lower strata of the society and find it difficult to financially achieve their dreams. This loan scheme is offered by State Channelizing Agencies (SCAs), Regional Rural Banks (RRBs) and Nationalised Banks to those women who need capital in order to start their own business.

    Features and benefits of Mahila Samridhi Yojana

    • Maximum number of women who can be a part of the self-help group is 20.
    • The maximum loan amount that a woman can avail is Rs.60,000.

    Eligibility criteria

    • The annual family income of the woman should be fixed at Rs.3 lakh.
    • The woman should belong to backward class as notified by State and Central Government and should live double the below the poverty line.
    • If the woman’s family income is Rs.1.5 lakh and below, then the banks will have to release 50% of the funds to the woman.

    Pattern of Finance

    Up to 95% of the loan amount will be provided under the scheme to the applicant while the rest of the 5% will be provided by State Channelizing Agencies (SCAs) or Beneficiary contribution. The utilisation period will be 4 months from the date of disbursement of the loan amount.

    Repayment

    There is a moratorium period of 6 months under this scheme. The applicant is supposed to pay back the loan amount in quarterly installments within 4 years from the date on which the loan amount was disbursed to the applicant’s bank account.

    Rate of interest

    The rate of interest chargeable on the loan amount from National Backward Classes Finance and Development Corporation (NBCFDC) to SCA is 1%, while the interest rate charged on the loan amount from SCA to the beneficiary is 4%.

        

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