House loan assistance for STs hiked from Rs 2 lakh to Rs 5 lakh
TNN | Updated: Jan 3, 2019, 09:25 IST
Representative image PANAJI: In a bid to help members of Scheduled Tribes (ST) for repairs/renovation/reconstruction of their house, the Goa State Scheduled Tribes Finance and Development Corporation Ltd (GSSTFDCL) has notified a Ashraya Adhar Scheme.
Under this scheme, the amount up to Rs 5 lakh (which is enhanced from Rs 2 lakh offered under the existing Ashraya Adhar Sheme) shall be advanced as financial assistance in the form of loan at the rate of 2% per annum with a repayment period of 10 years including a moratorium period of three months to the ST members.
The age of the applicant should not be more than 55 years as on the date of loan application. However, the age of the applicant is relaxed up to 58 years in case the applicant is an employee of any state/central government/government corporation/board or aided institute.
The net monthly income of the applicant shall commensurate to the EMI of the loan.
The corporation has also notified the amendments of the short-term loan scheme for education, business and medical purpose wherein the repayment period in respect to loan for education purpose is enhanced from 10 months to 20 months with a moratorium period of three months.
Under this scheme, the financial support up to Rs 1 lakh at the rate of 2% with a repayment period of 10 monthw is provided to any individual student belonging to ST community as an advance to meet the financial requirement urgently for education, business and medical.
In respect to loan for business and medical purpose, a moratorium period of three months is included with a repayment period of 10 months and as such sufficient time is provided for setting the business and to provide relief to the family of sick patients from obligation of repaying the loan immediately.
Other clauses of the scheme shall remain unchanged.
The corporation is also implementing a self employment scheme wherein loan up to Rs 10 lakh is provided to unemployed ST member to undertake any self-employment activity and loans up to Rs 15 lakh is provided to the association/society/partnership/self help groups/companies formed exclusively by the member of the community at the rate of 4% with repayment period of five years.
“Difficulties faced by the ST community in arranging funds required will be solved with the implementation of these schemes. Also, those who are often kept behind due to higher rate of interest offered by banks and hence can’t afford to avail the bank loan will find ease,” said minister for tribal welfare, Govind Gaude.
Under this scheme, the amount up to Rs 5 lakh (which is enhanced from Rs 2 lakh offered under the existing Ashraya Adhar Sheme) shall be advanced as financial assistance in the form of loan at the rate of 2% per annum with a repayment period of 10 years including a moratorium period of three months to the ST members.
The age of the applicant should not be more than 55 years as on the date of loan application. However, the age of the applicant is relaxed up to 58 years in case the applicant is an employee of any state/central government/government corporation/board or aided institute.
The net monthly income of the applicant shall commensurate to the EMI of the loan.
The corporation has also notified the amendments of the short-term loan scheme for education, business and medical purpose wherein the repayment period in respect to loan for education purpose is enhanced from 10 months to 20 months with a moratorium period of three months.
Under this scheme, the financial support up to Rs 1 lakh at the rate of 2% with a repayment period of 10 monthw is provided to any individual student belonging to ST community as an advance to meet the financial requirement urgently for education, business and medical.
In respect to loan for business and medical purpose, a moratorium period of three months is included with a repayment period of 10 months and as such sufficient time is provided for setting the business and to provide relief to the family of sick patients from obligation of repaying the loan immediately.
Other clauses of the scheme shall remain unchanged.
The corporation is also implementing a self employment scheme wherein loan up to Rs 10 lakh is provided to unemployed ST member to undertake any self-employment activity and loans up to Rs 15 lakh is provided to the association/society/partnership/self help groups/companies formed exclusively by the member of the community at the rate of 4% with repayment period of five years.
“Difficulties faced by the ST community in arranging funds required will be solved with the implementation of these schemes. Also, those who are often kept behind due to higher rate of interest offered by banks and hence can’t afford to avail the bank loan will find ease,” said minister for tribal welfare, Govind Gaude.
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