Schemes

The Corporation intends to help unemployed youths among Scheduled Communities who are approaching the Corporation with small projects which are viable but not being implemented either directly or with the help of other financing agencies for starting self employment ventures. The maximum project cost is Rs.3,00,000/-.The repayment period is 5 years and the rate of interest is 7%. Annual Family Income limit of the applicant is Rs. 3,50,000/-.

This scheme is meant to assist technically trained Scheduled Caste candidates like professionally qualified persons like doctors, engineers, Chartered Accountants, Pharmacists etc. to take up self employment activities. The loan ceiling is Rs.,5,00,000/- per eligible person. The repayment period is 5 years and the rate of interest is 8%. Annual Family Income limit of the applicant is Rs. 3,50,000/-.

The Corporation has been implementing ‘Vehicle Loan’ to promote self employment opportunities for SC/ST beneficiaries in Kerala as it yields quick returns with minimum efforts. The scheme is made available to those candidates who have valid Driving License and badge (if needed). Maximum project cost of the scheme is Rs. 10,00,000/-. The repayment period is 5 years and the rate of interest is 7% up to Rs.5,00,000/- and 8% above Rs.5,00,000/-. Annual Family Income limit of the applicant is Rs.6.00 lakhs up to loan amount of Rs.5 lakhs and Rs. 15 lakhs above loan amount of Rs. 5 lakhs.

Loan under this scheme may be utilized for purchase of second hand vehicles too (but not older than three years) subject to stipulated conditions of the scheme.

The objective of the scheme “Multi Purpose Unit Loan” is to finance small and medium sized projects of SC/ST entrepreneurs with investment needs not exceeding Rs.25 lakhs which are viable and requiring less gestation period. Those who have undergone some training or acquired some specialised knowledge in the relevant activity will be given preference. It covers economic activities cutting across different economic segments like agriculture, industry, trade and commerce. The repayment period is 5 years. The rate of interest is 7% up to Rs.5 lakhs and 9 % above Rs.5 lakhs . Annual Family Income limit of the applicant will be Rs.6.00 lakhs (for loans up to Rs. 5 lakhs), Rs. 15 lakhs (for loans up to Rs. 10 lakhs) and Rs. 20 lakhs (for loans above Rs. 10 lakhs).

The scheme envisages to provide Rs.50,000/- to help the SC/ST youths who possess valid visa and work agreement for getting employment in foreign countries. The repayment period is 3 years and the rate of interest is 6%. Annual Family Income limit of the applicant is Rs. 3.50 lakhs.

The Foreign Employment Loan Scheme envisages to provide up to Rs. 2 lakhs to those who go abroad for taking up an employment. It addresses the needs of unemployed but educated youngsters belonging to Scheduled Castes who have been offered a placement by a recognized overseas employer. The interest on loan is 6% with repayment period of 3 years. Annual Family Income limit of the applicant is Rs. 3.50 lakhs.

In order to help the returned NRKs (Non Resident Keralites) to find a reasonable steady income for their livelihood, Government of Kerala have started the rehabilitation package called NDPREM (Norka Department Project for Return Emigrants). Accordingly, the Corporation (KSDC) has associated with NORKA ROOTS, the nodal agency for the programme and envisages to start ‘Loan for Rehabilitation of Return Emigrants’. As per this programme, KSDC will extend need based loan subject to a maximum of Rs.20 lakhs to those applicants identified and recommended by NORKA ROOTS to start viable income generating ventures. Simultaneously, NORKA ROOTS will release capital subsidy of 15% of the project cost (subject to a maximum of Rs.3 lakhs) and interest subsidy of 3% for the first 4 years, to those beneficiaries who are regular in repayment. In case of default, the benefit would be extended only if the beneficiaries clear off his/her dues. The rate of interest on loan will be 6% upto Rs.5 lakhs and 8% above Rs.5lakhs with repayment period of 5 years. Annual Family Income limit of the applicant will be Rs.6.00 lakhs (for loans up to Rs. 5 lakhs), Rs. 15 lakhs (for loans up to Rs. 10 lakhs) and Rs. 20 lakhs (for loans above Rs. 10 lakhs).

The objective of the scheme “Loan for Startup Entrepreneurs” is to fund small and medium sized technology driven projects of young entrepreneurs and innovators with investment needs not exceeding Rs.25 lakhs which are viable and requiring less gestation period. It covers startup ventures cutting across different economic segments promoted by even student entrepreneurs forming part of the State’s initiative to materializing the concept of ‘industry institute linkage’. The scheme however does not cover seed funds at the pre-commercialization stage. Students entrepreneurs from Professional Colleges with an urge for setting up knowledge driven and technology based greenfield enterprises will be given preference. The rate of interest on loan will be 7% p.a. with repayment period of 5 years. Annual Family Income limit of the applicant is Rs. 25.00 lakhs.

The objective of this scheme is to provide working capital loan to authorized petroleum dealers belonging to Scheduled Castes communities. The maximum loan amount admissible per head is Rs.10 lakhs. The repayment period is 8 years and the rate of interest is 4%. Annual Family Income limit of the applicant is Rs. 6 lakhs.