Eligibility

• Loanee must have S/B a/c at least 6 months old with MDCCB.
• In case non salary earners (self- employed/ businessman) last three years income tax return filed by the applicant and in case of LIC Agents etc. Form 16A showing the commission/ interest received by the applicant during the year is to be obtained. An acceptable valid document to justify the stated income has to be submitted by the applicant
• Project/ Scheme must be certified either by the government approved architect/ civil engineer or by a competent authority like NABARD, DIC etc. as the case may be. The project is to be located within the district of Murshidabad.
• Farmer applicant/s must have own agricultural land and business to support his/ their income statement.

PURPOSE

Self-employment Scheme for local youth.

Any Industrial Unit

Any Service Unit

RATE OF INTEREST:

Such rate as may be Notified from time to time by the Bank.

Quantum of Loan:

Maximum amount of Term Loan in case of MSME at the initial stage should not be more than Rs. 2 lac per borrower. However, higher amount of loan up to Rs.5 lac may be considered depending upon the financial integrity and past transaction of the borrower.

REPAYMENT

Not more than 84 EMI

Moratorium Period

Maximum 6 month (if applicable)