Bank Loan Processing Fee Reimbursement Scheme
The Bank Loan Processing Fee Reimbursement Scheme comes under the purview of the Ministry of Micro, Small and Medium Enterprises (MSME) of the Government of India.
About the Bank Loan Processing Fee Reimbursement Scheme Scheme
The "Bank Loan Processing Fee Reimbursement Scheme" is implemented by the Ministry of Micro, Small, and Medium Enterprises under the National SC-ST Hub programme. It provides financial support to SC/ST Micro and Small Enterprises by reimbursing a major portion of bank loan processing fees charged by financial institutions. The scheme covers both fund-based and non-fund-based loans. It reduces the initial financial burden on entrepreneurs and improves their access to institutional credit. The initiative promotes inclusive growth and supports the development of SC/ST-owned businesses.
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Benefits
- Processing Fee Reimbursement: Up to 80% of the processing fee or ₹1,00,000/- (excluding GST and taxes), whichever is lower.
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Eligibility Criteria
- Applicant should belong to the Scheduled Caste / Scheduled Tribe category.
- He/she should represent/own any MSEs unit.
- MSEs availing loans from any Scheduled Commercial Banks, Non-Banking Finance Companies (NBFCs), and State Finance Corporations will be considered under the scheme.
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How to Apply for Bank Loan Processing Fee Reimbursement Scheme
Application mode: Online
Step 1: The applicant must visit the official portal of the National SC-ST Hub.
Step 2: The applicant must click on the "Scheme name" and then click on “Sign Up” and register using basic details such as name, email ID, and mobile number.
Step 3: The applicant must create a password and complete the registration process.
Step 4: The applicant must log in using the registered credentials.
Step 5: The applicant must fill in the required details and submit the application online.
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Exclusions
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Frequently Asked Questions
What is the Bank Loan Processing Fee Reimbursement Scheme scheme?
The &quot;Bank Loan Processing Fee Reimbursement Scheme&quot; is implemented by the Ministry of Micro, Small, and Medium Enterprises under the National SC-ST Hub programme. It provides financial support to SC/ST Micro and Small Enterprises by reimbursing a major portion…
Who is eligible for Bank Loan Processing Fee Reimbursement Scheme?
Applicant should belong to the Scheduled Caste / Scheduled Tribe category. He/she should represent/own any MSEs unit. MSEs availing loans from any Scheduled Commercial Banks, Non-Banking Finance Companies (NBFCs), and State Finance Corporations will be considered under the scheme. <br
What benefits does Bank Loan Processing Fee Reimbursement Scheme provide?
Processing Fee Reimbursement: Up to 80% of the processing fee or ₹1,00,000/- (excluding GST and taxes), whichever is lower. <br
How can I apply for Bank Loan Processing Fee Reimbursement Scheme?
Step 1: The applicant must visit the official portal of the National SC-ST Hub. Step 2: The applicant must click on the "Scheme name" and then click on “Sign Up” and register using basic details such as name, email ID, and mobile number. Step 3: The applicant must create a password and co…
Source: official scheme details published on the Government of India's myScheme portal. Always verify eligibility and deadlines on the official portal before applying. Scheme rules can change.
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