Tamil Nadu State Loan for Muslims and Christians marked as OBCs with an interest rate of just 6% PA

Below is the scheme details from Tamil Nadu Government website
http://www.tn.gov.in/scheme/data_view/27484

Scheme

Concerned Department:BC, MBC & Minorities Welfare Department

Concerned District:All Districts

Organisation Name:Backward Classes Welfare Directorate

Scheme Details

Title / Name:Individual Term Loan Scheme For Minorities

Associated Scheme:

Sponsored By:State

Funding Pattern:

Beneficiaries:BC/MBC

Benefits Types:Grants

Eligibility criteria

Income:55000

Age:--

Community:--

Other Details:Age limit above 18 years. Loan will be sanctioned for 1 person in a family. Minorities are eligible. (Religious) Muslims, Christians, Sikhs, Buddhists, and Parsis, are eligible to apply.Documents to be produced 1.Income and Community Certificates. 2. Ration Card or Residency Certificate and other documents required by the banks.

How To Avail:TAMCO, 807, Anna Salai, Vth Floor, Chennai-2 (or) District Backward Classes and Minorities Welfare Officer of the District concerned (or) Regional Joint Registrar of Co-op. Societies (or) District Central Co-operative Bank and its branches / Urban Co-op. Bank / viable Primary Agricultural Co-operative Bank

Validity of the Scheme

Introduced On:May 07, 2012

Valid Upto:Dec 31, 2016

Description:The loan amount upto Rs.1,00,000/- is sanctioned at 6percent rate of interest for business / project. The loan amount more than Rs.1,00,000/- and upto Rs.5,00,000/- is sanctioned after getting approval of NMDFC, New Delhi. The loan contribution pattern is as follows NMDFC 85percent TAMCO 10percent Beneficiary 5percent This loan is given through the District Central Co-operative Bank, its branches / Urban Co-operative Bank / viable Primary Agricultural Co-operative Bank. The loan is repayable in 60 monthly installments