To start small business / trade loan is sanctioned to the individuals.
Maximum loan limit is Rs. 15.00 lakhs.
PATTERN OF FINANCE :-
NBCFDC share : 85%
TABCEDCO share : 10%
Beneficiary’s share : 05%
RATE OF INTEREST :-
upto Rs. 5.00 lakhs – 6%
Above Rs. 5.00 lakhs to Rs. 10.00 lakhs – 7%
Above Rs.10.00 lakhs to Rs. 15.00 lakhs – 8%
Repayment Period : 3 to 8 Years
ELIGIBILITY CRITERIA :-
Beneficiary should belong to Backward Classes, Most Backward Classes and Denotified Communities as in the state list or Central list.
Annual family income shall not exceed Rs.3,00,000/-
Beneficiary should be aged above 18 years and below 60 years.
Loan assistance will be sanctioned to only one person in a family.
MODE OF APPLICATION :-
Loan Applications forms are available at free of cost at the following offices:
TABCEDCO’s Head Office at Chennai
District Backward Classes & Minorities Welfare Officers / Regional Manager
Joint Registrar of Co-operative Societies
Co-operative Credit Societies / Banks.
DOCUMENTS TO BE PRODUCED :-
The applicants should fill up their Loan Applications and submit the same along with the copy of the following documents to the respective District Backward Classes and Minorities Welfare Officer & Regional Manager / Office of the Joint Registrar of Co-operative Societies / Co-operative Banks.
- Community, Income and Nativity Certificates.
- Quotation from a leading company.
- Project from a leading company.
- Ration card.
- Driving license (for transport vehicle loans only).
- Documents for hypothecation / mortgage as required by the Bank.
- Aadhar card.
SECURITY FOR LOAN ASSISTANCE
As per the norms of District Central Co-operative Banks / Urban Co-operative Banks / Primary Agricultural Co-operative Credit Societies.
