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Minority Scheme Details

Minority Scheme

Details

Scheme Name:
Direct Loan For Business/Enterprises
Description:

Under this scheme, Loan will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land). Last Date to Submit Applications : 15-Nov-2022


Eligibility:
  1. Applicant should be resident of Karnataka state
  2. Applicant should belong to a minority community
  3. Applicant Age should be between 18 to 55 years
  4. Applicant should not be defaulter of K.M.D.C.
  5. Loans will be provided only on mortgage of property (building/land) to the corporation. The value of the property should not be less than the loan amount.
  6. Business/Enterprise Loan will be given to only one member of a family
  7. If applicant's family income is below Rs 8.00 lakhs, then the loan will be provided upto Rs 20 lakhs on 4% interest rate
  8. If applicant's family income is Rs 8.00 lakhs to 15 lakhs, loan will be provided upto Rs 20 lakhs on 6% interest rate

Status:
Active
Link:
https://kmdconline.karnataka.gov.in/Portal/home