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Term & Loan Scheme

Schemes of NMDFC

Bihar State Minorities Financial Corporation ltd. has been appointed as Channelising Agency of National Minority Development & Finance Corporation ltd., New Delhi in 1997 to implement their schemes related to minorities in the State of Bihar. The following schemes of National Minority Development & Finance Corporation ltd., New Delhi are being implemented by Bihar State Minorities Financial Corporation ltd.:-

Term Loan

Under the term loan scheme, projects costing up to Rs.5.00 lacs are considered for financing to individual beneficiary. Bihar State Minorities Financial Corporation ltd. provides loan to the extent of 85% of the project cost. The remaining cost of the project is met by the beneficiary. The rate of simple interest is 6% per annum. The loan amount is repayable in maximum 5 years on quarterly basis.

Eligibility Criteria

1) The applicant should be in the age group of 18-50 years.

2) The annual income of the applicant should not be more that 1,03,000/- and 81,000/- for urban and rural areas respectively.

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