Minority Development Finance Corporation with new loan schemes

Trending 2021-09-01

newsteamz_Minority Development Finance Corporation with new loan schemes
  • Kerala State Minority Development Finance Corporation announces 'Sumithram' Multipurpose Loan Scheme.

  • Loans up to Rs 5 lakh at a 5% interest rate will be provided to patients suffering from a terminal illness.

  • In addition, the criteria for existing loan schemes have been changed to make them more attractive.

Kerala State Minority Development Finance Corporation announces 'Sumithram' Multipurpose Loan Scheme Under the scheme, parents can get a loan of up to Rs 5 lakh at an interest rate of 6 percent for the marriage of a minor girl child. Loans up to Rs 5 lakh at a 5% interest rate will be provided to patients suffering from a terminal illness. 

In addition, the criteria for existing loan schemes have been changed to make them more attractive. Credit Line 1 & 2 through NMDFC has increased the number of education loans for study abroad from `20 lakh to` 30 lakh. The maximum loan amount that can be given in a year is Rs 6 lakh. Loans will also be made to joint venture enterprises for self-employment and business expansion loans provided using KSMDFC funds. The income limit for NRIs / Wisalons has been revised to Rs 6 lakh for all sectors (urban/rural).

The income limit for multi-purpose loans for low-income government employees has been revised to Rs. 6 lakhs. Under the Parent Plus Scheme, the education loan limit has been revised from Rs. 10 lakhs to Rs. 15 lakhs. Applicants from districts should send their applications to the Thiruvananthapuram Regional Office.

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