Merit Loan Scheme for Good Borrowers
The scheme aims to assist the units of PIPDIC whose loan accounts are classified as Standard Assets continuously for 3 years. The assistance is provided for construction of additional building, purchase of additional machineries & equipments essential for expansion /modernisation / diversification.
About This Scheme
Benefits
Loan Limit: Maximum amount of loan shall be the equal amount paid by the unit.
Interest Concession: 1% less than the normal rate of interest.
Eligibility
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Required Documents
- ✦Requisition Letter (No formal application form is required).
- ✦Audited Financial Statements for the Last 3 Years.
- ✦Income Tax (IT) Returns.
- ✦Collateral Security Documents (Collateral security in the form of immovable property must be offered).
- ✦Original Title Deeds in the Name of the Party.
- ✦Antecedent Title Deeds (Title deeds executed between vendors and third parties) for 30 Years (if possible) or 20 Years (Certified Copy or Original).
- ✦Encumbrance Certificate for the Property for 30 Years Prior to the Date of Sanction Order (Original).
- ✦Valuation Certificate of the Property Assessed by a Chartered Engineer from the Approved Panel of the Corporation (Original).
- ✦Patta of the Said Property.
- ✦Field Measurement Book Copy (FMB Copy) of the Said Property (Original).
- ✦Latest Tax Paid Receipt (Original).
- ✦Chitta Nagal of the Said Property (Original).
- ✦Settlement Register Copy of the Said Property.
- ✦Adangal Certificate (Original) (If the properties are agricultural lands).
- ✦Certificate Issued by the Village Administrative Officer to Prove the Owner's Possession (Original).
- ✦Legal Heir Declaratory Decree Obtained from the Competent Court in Puducherry (For Puducherry property) or Legal Heir Certificate Obtained from Tahsildar, Tamil Nadu (For Tamil Nadu property) (In case of properties in the name of deceased persons).
✦ Required ◦ Optional
How to Apply
Use the registered email-id to log in. An OTP is sent to the registered email address. The applicant is then required to enter the OTP and click "Login" to access to the customer dashboard. Upon successful login, the customer needs to update their profile by accessing the "Edit Profile" option (top right corner of the dashboard). The applicant must provide all required details. Click "Submit". To initiate the loan application process, the applicant must navigate from the customer dashboard by cl
Quick Info
- Level
- Central Government