Term Loan
Term Loan (Gujarat Minorities Finance & Development Corporation Limited)
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States / UT: Gujarat
Ministry / nodal: Social Justice and Empowerment Department
Department: Social Justice and Empowerment Department
Nodal department: Social Justice and Empowerment Department
Scheme for: Individual
Scheme profile
DBT (direct benefit transfer): No
Target beneficiaries: Minority Families, Unemployed Individuals
Tags: Loan, Minorities, Self-Employment, Small Business, Financial Help, Gujarat, Social Welfare, Empowerment, Interest Subsidy, Economic Development, Youth, Women
Details
The Term Loan Scheme, managed by the Gujarat Minorities Finance & Development Corporation Limited under the Social Justice and Empowerment Department, provides personal loans for small business and self-employment activities. Loans of up to Rs. 20 lakhs are available for various sectors including agriculture, technical self-employment, service businesses, craft occupations, and the transport sector. The scheme targets minority families across the state, with specific income limits and interest rates based on the beneficiary's annual family income.
Benefits
- - Personal loans for small business/self-employment up to Rs. 20 lakhs
- Interest rate of 3% per annum for beneficiaries with an annual family income up to Rs. 98,000 (rural) or Rs. 1,20,000 (urban)
- Interest rate of 8% per annum for male beneficiaries with an annual family income between Rs. 1,20,001 and Rs. 8,00,000
- Interest rate of 5% per annum for female beneficiaries with an annual family income between Rs. 1,20,001 and Rs. 8,00,000
- Personal loans for small business/self-employment up to Rs. 20 lakhs
- Interest rate of 3% per annum for beneficiaries with an annual family income up to Rs. 98,000 (rural) or Rs. 1,20,000 (urban)
- Interest rate of 8% per annum for male beneficiaries with an annual family income between Rs. 1,20,001 and Rs. 8,00,000
- Interest rate of 5% per annum for female beneficiaries with an annual family income between Rs. 1,20,001 and Rs. 8,00,000
Eligibility
Eligible applicants include:
- Individuals aged between 21 and 45 years
- Minority families
- No specific educational or professional qualifications required
- Unemployed individuals can apply
Application Process
Online
To apply, visit the online application portal at Gujarat Minorities Finance & Development Corporation. Required documents include:
- 7/12 Certificate
- Aadhar Card
- Age Proof
- Bank Pass Book/Cancelled Cheque
- Business Address Proof
- Caste Certificate
- Certificate of Professional Course
- Copy of License
- Graduate Mark Sheet
- Identity Card
- Income Certificate
- 12th Std Mark Sheet
- Passport Size Photos
- Post Graduate Mark Sheet
- Quotations
- Ration Card
- School Leaving Certificate
Documents Required
No document list is available for this scheme yet.
Official links
References
Apply
Apply nowOpens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.
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:
- Check eligibility criteria
- Collect required documents
- Fill the application form
- Submit the application online or at the relevant office
- Track application status