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GOVERNMENT LOAN SCHEME

Self Help Groups

Self Help Group Loan Scheme

ABOUT THE SCHEME

Self Help Group Loan

Financial assistance is provided to eligible Self Help Groups for supporting industrial, manufacturing, business and retail trade activities, subject to the applicable eligibility and documentation requirements.

SCHEME DETAILS

Self Help Group Loan – Key Particulars

Loan Particulars Self Help Group Loan
Loan Tenure Period 12 / 24 / 36 Monthly Instalments
Maximum Loan Amount Maximum of ₹30,00,000/- per group cluster
Interest Rate From 7.00% up to 12.00%
Eligible Applicants Self Help Group members who have opened a savings bank account and maintained smooth transactions for at least six months.
Eligible Purpose Activities All industrial, manufacturing, business, and retail trade purposes.
Age Limits From 18 years up to 70 years of age (Male / Female).
Documents to be Submitted with Loan Application
  1. Copy of the formal resolution passed by the group seeking credit assistance.
  2. Copy of the group's official bank account transactional statement for the past consecutive six months.
  3. Two identity and address proof documents for each member of the loan-seeking group (PAN Card and Aadhaar Card).
  4. Copy of the General Ledger document showing the current collective savings summary balances.
  5. Official structural Evaluation / Grading matrix report certified directly by the Mahalir Thittam project and the respective Branch Manager.
  6. The bank-designed official loan application profiles, formal loan agreements and all supplementary attachments including the Pro-Note must be fully completed.
  7. No-Due Certificates issued by Primary Agricultural Cooperative Credit Societies (PACCS) and standard commercial banks operating within the specific jurisdiction of the branch.
  8. Where required, the responsible Branch Manager shall verify the specific group repayment capacity prior to sanction clearance.
Share Capital Requirement Contribution Nil / Not Required

Important Information

Loan eligibility, loan amount, interest rate, tenure, documentation and other applicable conditions are subject to the Bank's prevailing guidelines and applicable Government / regulatory requirements. Please contact the nearest branch for the latest details before applying.

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