DCCBFCD

District Central Cooperative Banks and through its Branches: For Consumer Durables T.V., Fridge and Two Wheelers Loan

Residents of Tamil Nadu can obtain loans through District Central Cooperative Banks to purchase essential consumer durables such as televisions, refrigerators, and two-wheelers. The scheme finances 75% of the product cost at a competitive interest rate of 14%, making it easier for individuals to acquire these household items.

State Cash

States / UT: Tamil Nadu

Nodal department: Co-operation, Food and Consumer Protection Department

Scheme for: Individual

Scheme profile

DBT (direct benefit transfer): No

Categories: Banking,Financial Services and Insurance

Sub-categories: Loan

Target beneficiaries: Individual

Tags: Consumer Loan, Electronics, Two Wheeler Loan

Details

The "District Central Cooperative Banks and through its Branches: For Consumer Durables T.V., Fridge and Two Wheelers Loan" scheme launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, offers loans for the purchase of consumer durables, including T.V.s, refrigerators, and two-wheelers. The loan covers up to 75% of the product cost, with no upper ceiling, and is subject to a 14% interest rate (subject to change).


Benefits

  • - Access to Loan: 75% of the cost of consumer durables. - Interest Rate: 14% (subject to change). <br>
  • Access to Loan: 75% of the cost of consumer durables. - Interest Rate: 14% (subject to change).

Eligibility

  • The beneficiary should be a resident of Tamil Nadu.
  • Loans should be applicable only for Consumer durables such as T.V., Fridge and two wheelers.

Exclusions


Application Process

Offline

Step-1: The interested applicant should collect the application form from the District Central Cooperative Banks or its branches.
Step-2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Step-3: Submit the duly filled and signed application form along with the documents to the concerned authority..
Step-4: Request a receipt or acknowledgment from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, a unique identification number (if applicable).

Clarifications

Additional points from the scheme information published on myScheme (not legal advice).

What is the objective of this scheme?
The scheme offers loans for the purchase of consumer durables, including T.V.s, refrigerators, and two-wheelers that covers 75% of the product cost at an interest rate of 14%.
What is the maximum loan amount a person can avail?
The loan covers up to 75% of the cost of the product.
Is there any ceiling on the loan amount?
No, there is no upper ceiling on the loan amount.
What is the rate of interest for the loan?
The interest rate is 14%, but it is subject to change.
What items can be purchased with this loan?
The loan can be used to purchase consumer durables such as T.V.s, refrigerators, and two-wheelers.
Who is eligible for this loan?
Any resident of Tamil Nadu can apply for the loan.
Is there a minimum income requirement for the loan?
There is no specific income requirement mentioned.
What documents are required to apply for the loan?
Applicants need to provide ID proof, address proof, income proof, and an estimate or invoice for the product.
Where can one apply for this loan?
The loan can be applied for at any District Central Cooperative Bank or its branches.
Is there any processing fee for the loan?
The details about the processing fee depend on the bank's policy.
What is the repayment tenure for the loan?
The repayment tenure is decided by the bank at the time of loan sanction.
What happens if someone defaults on the loan?
In case of default, the bank may take recovery actions as per its policies.

References

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Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status