Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women
The scheme aims to provide self-employment loans to women from minority communities. Financial assistance with a 20% subsidy is provided to widows, divorced women, and abandoned women from minority communities. The scheme is implemented by the KSMDFC.
About the Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women Scheme
The scheme "Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women" was introduced by the State Minority Welfare Department, Government of Kerala. The scheme aims to provide self-employment loans to women from minority communities. Through this scheme, government financial assistance with a 20% subsidy is provided to widows, divorced women, and abandoned women from minority communities. The scheme is implemented by the Kerala State Minority Development Finance Corporation.
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Benefits
- Financial assistance of up to ₹1,00,000/- as a government subsidy.
- Maximum loan amount of ₹5,00,000/-.
- The interest rate on the loan amount (excluding subsidy) is 6%.
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> Conditions/Criteria Associated with Benefits:
A 20% subsidy (maximum ₹1,00,000/-) is provided on the loan amount.
- For a loan amount of ₹1,00,000/-, the subsidy is ₹20,000/-.
- For a loan amount of ₹2,00,000/-, the subsidy is ₹40,000/-.
- For a loan amount of ₹3,00,000/-, the subsidy is ₹60,000/-.
- For a loan amount of ₹4,00,000/-, the subsidy is ₹80,000.
- For a loan amount of ₹5,00,000/-, the subsidy is ₹1,00,000/-.
_*At each stage of disbursement, photos and bills must be submitted._
_*Direct inspection will be conducted at each stage of disbursement._
_*An additional interest of 6% will be charged for misuse of funds._
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Eligibility Criteria
- The applicant must belong to a minority community (Muslim, Christian, Buddhist, Sikh, Parsi, Jain).
- The applicant should be a widow, divorced woman, or abandoned woman.
- The applicant's age should be between 20 and 60 years.
- The applicant's family's annual income should not exceed ₹2,50,000/-.
> Preference/Priority
- Priority will be given to mothers of children below 18 years of age.
- Priority will be given to widows from families identified through the extreme poverty identification survey.
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How to Apply for Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women
Application mode: Offline
Step 1:**** Visit the official website of the Directorate of Minority Affairs and check on "News & Updates". Select the "Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women" and obtain the application form.
Alternatively, you can also visit the official website of KSMDFC and go to the &quot;Application Form&quot; section and select the &quot;Application Form for Widows&#39; Loan Subsidy&quot;. Take a printout and fill out the application form.
Step 2:**** Attach the required copies of documents (Income Certificate, Caste/Age Certificate, Certificate proving applicant is a widow/divorced/abandoned woman) for primary verification.
Step 3:**** Submit the filled application form, either directly or by post, to the respective Regional Office of the Kerala State Minority Development Finance Corporation in your district.
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_*Attend the interview, bringing all original documents mentioned in the "Documents Required - For Interview" section._
_*If the loan is approved, submit the additional required documents as per the chosen guarantee type (officer guarantee or property guarantee)._
_*The loan will be sanctioned as per the Corporation's rules and government regulations_
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Exclusions
- The following types of land are not accepted as collateral: Kuzhikanam, Verumpattom, Devaswam Verumpattom, pledged land, and agricultural fields (if patta is not received).
- Residential land less than 4 cents will not be accepted as collateral.
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Frequently Asked Questions
What is the Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women scheme?
The scheme "Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women" was introduced by the State Minority Welfare Department, Government of Kerala. The scheme aims to provide self-employment loans to women from minority communities. Through this sc…
Who is eligible for Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women?
The applicant must belong to a minority community (Muslim, Christian, Buddhist, Sikh, Parsi, Jain). The applicant should be a widow, divorced woman, or abandoned woman. The applicant&39;s age should be between 20 and 60 years. The applicant&39;s family&39;s annual income should not exceed ₹2,50,000…
What benefits does Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women provide?
Financial assistance of up to ₹1,00,000/- as a government subsidy. Maximum loan amount of ₹5,00,000/-. The interest rate on the loan amount (excluding subsidy) is 6%. <br Conditions/Criteria Associated with Benefits: A 20% subsidy (maximum ₹1,00,000/-) is provided on the loan amount. For a loan amo…
How can I apply for Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women?
Step 1: Visit the official website of the Directorate of Minority Affairs and check on "News & Updates". Select the "Self-Employment loan scheme for Minority Widows, Divorcees / Abandoned Women" and obtain the application form. Alternatively, you can also visit the official…
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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