Term Loan Scheme of NMDFC

About This Scheme

Benefits

Eligibility

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  a) The applicant must be Indian and belong to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain.
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  b) The annual family income should not exceed:
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  Rs. 3.00 lakh per annum under Credit Line–1.
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  Rs. 8.00 lakh per annum under Credit Line–2.
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  c) The applicant must be 18 years or above and capable of undertaking self-employment activity.
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  d) The applicant should not have any outstanding loan or default under any Central/State Government financing scheme.
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  e) The project proposal should be economically viable and technically feasible.
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  f) The applicant must have a valid Aadhaar-linked bank account, residence proof, income certificate, and minority community certificate issued by a competent authority.
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  g) Preference shall be given to women, youth, and occupational groups belonging to the minority communities.
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  h) Insurance of the borrower and assets financed is mandatory under NMDFC guidelines.

Required Documents

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  Duly filled loan application form (as prescribed by SCA/Bank).
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  Recent passport-size photographs of the applicant and co-applicant (if any).
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  Proof of Minority Status: Self-declaration or certificate from competent authority.
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  Income Certificate issued by a competent authority (Tehsildar/SDM).
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  Residence Proof: Aadhaar card, Voter ID, Ration Card, or Utility Bill.
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  Identity Proof: Aadhaar card/PAN card.
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  Project Report or Business Plan (detailing purpose, cost, and financial viability).
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  Bank Account Proof: Cancelled cheque or first page of passbook (Aadhaar linked).
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  Quotation/Estimate of machinery, equipment, or raw materials (as applicable).
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  No Dues Certificate from other financial institutions (if required).
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  Affidavit/Self-declaration stating non-availment of loan from other government schemes.
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  Insurance document (if available at time of submission; otherwise post-sanction).

✦ Required ◦ Optional

How to Apply