TLS-DELHI

Transport Loan Scheme

"Transport Loan Scheme" aims to promote self-employment among target groups by providing term loans for Light Motor Vehicles. The scheme benefits Scheduled Castes, Other Backward Classes, Minorities, and Safai Karamcharis with financial assistance up to ₹5,00,000/-.

State Cash

States / UT: Delhi

Nodal department: Social Welfare Department

Scheme for: Individual

Scheme profile

DBT (direct benefit transfer): No

Categories: Transport & Infrastructure, Business & Entrepreneurship

Sub-categories: Public transport and private vehicles, Roads and road transport, Micro finance, Setting up / start-up / entrepreneurship, Loan

Target beneficiaries: Individual

Tags: Loan, Employment, Entrepreneurship, Scheduled Caste, Scheduled Tribe, Minority, Safai Karmachari, Transport

Details

"Transport Loan Scheme" by the Delhi Scheduled Castes, Scheduled Tribes, Other Backward Classes, Minorities & Safai Karamchari Finance and Development Corporation (DSFDC), Government of NCT of Delhi, aims to promote self-employment among beneficiaries of the target groups by providing term loans for the purchase of Light Motor Vehicles (LMVs). The scheme offers financial assistance up to ₹5,00,000/- to eligible applicants. The target groups include Scheduled Castes, Other Backward Classes, Minorities, and Safai Karamcharis.

Benefits

  • The scheme provides term loans up to ₹5 00 000/- for the purchase of Light Motor Vehicles (LMVs). The loan is recovered in 60 monthly installments over a period of five years with six months as a moratorium period. Loans are disbursed subject to the completion of pre and post-sanction formalities

The scheme provides term loans up to ₹5,00,000/- for the purchase of Light Motor Vehicles (LMVs).
*The loan is recovered in 60 monthly installments over a period of five years, with six months as a moratorium period.
*Loans are disbursed subject to the completion of pre and post-sanction formalities.

Eligibility

  • The applicant should be from one of the following target groups - Scheduled Castes, Other Backward Classes, Minorities, and Safai Karamcharis.
  • The applicant should be a permanent resident of Delhi.
  • The applicant’s age should be between 18 to 45 years.
  • The annual family income of the applicants (under Scheduled Caste, Other Backward Classes & Minority category) from all sources should not exceed ₹1,20,000/- per annum.
  • For the creamy layer of the Minority category, the maximum income ceiling is ₹6,00,000/- per annum.
  • There is no income limit prescribed under the Safai Karamchari category.
  • Bonafide valid commercial driving licence & badge required (Light Motor Vehicle).
  • The applicant should have not been declared as a defaulter under any scheme of DSFDC, Nationalized Bank, Financial Institution, or Co-operative Bank etc.

Application Process

Offline

Step 1: The interested applicant should visit the DSFDC branch offices (Rajpur Road, Mangolpuri, Nand Nagri) or headquarters at Rohini to collect the loan application form for the scheme. Alternatively, take print of the prescribed format of the application form from the official website of DSFDC.
Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph, 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 at the nearest DSFDC branch office or headquarters. Pay the processing fee of ₹350/- via demand draft in favor of DSFDC.
Step 4: The DSFDC will review your application and documents. If approved, you will receive a loan sanction letter. After loan sanction, submit additional documents as required, including guarantor details, post-dated cheques (if applicable), and group photographs. Once all formalities are completed, the loan amount will be disbursed to your account.
*For any further queries, applicants can visit the DSFDC website or contact their nearest DSFDC office.

Clarifications

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

What is the maximum loan amount available for applicants under this scheme?
The maximum loan amount available under this scheme is ₹5,00,000/- for the purchase of a vehicle.
What is the annual family income limit for applicants belonging to Scheduled Castes, Other Backward Classes, and Minorities?
The annual family income for applicants from Scheduled Castes, Other Backward Classes, and Minorities should not exceed ₹1,20,000/- per annum.
Is there an income limit for applicants from the Safai Karamchari category?
No, there is no income limit prescribed for applicants belonging to the Safai Karamchari category.
What type of driving license is required for applicants under this scheme?
Applicants must possess a valid commercial driving license (Light Motor Vehicle) and a badge to be eligible for the loan.
What is the processing fee for applying under this scheme?
The processing fee for applying under this scheme is ₹350/-, payable in favor of the Delhi SC/ST/OBC/Minorities & Handicapped Financial & Development Corporation.
What is the repayment period for the loan, and is there a moratorium period?
The loan is to be repaid in 60 monthly installments over five years, with a six-month moratorium period.
How many guarantors are required for the loan application?
The number of guarantors may vary depending on the loan amount, but at least one guarantor is required.
What is the maximum loan amount that requires post-dated cheques from the guarantor?
For loans above ₹2,00,000/-, the guarantor must provide five post-dated cheques.
What is the maximum income limit for applicants from the creamy layer of the Minority category?
Applicants from the creamy layer of the Minority category should not have an annual family income exceeding ₹6,00,000/-.
Can applicants who have defaulted on previous loans apply under this scheme?
No, applicants who have been declared defaulters under any scheme of the Delhi SC/ST/OBC/Minorities & Handicapped Financial & Development Corporation, nationalized banks, or other financial institutions are not eligible.

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