The Indian government offers various loan schemes to support individuals and businesses across different sectors. Here are some prominent schemes:
Launched to provide financial assistance to micro and small enterprises, PMMY offers loans up to ₹10 lakh under three categories:
- Shishu: Loans up to ₹50,000
- Kishore: Loans from ₹50,001 to ₹5 lakh
- Tarun: Loans from ₹5,00,001 to ₹10 lakh
These loans can be utilized for business purposes, capacity expansion, and modernization.
This initiative facilitates quick approval of loans up to ₹1 crore for Micro, Small, and Medium Enterprises (MSMEs). The process aims to reduce the turnaround time for loan approvals to just 59 minutes, enhancing ease of access to credit for businesses.
Aimed at providing affordable housing, PMAY offers interest subsidies on housing loans for the economically weaker sections, low-income groups, and middle-income groups. The scheme targets the construction of affordable houses with basic amenities.
The government provides interest subsidies and credit guarantees for education loans availed by students. The Central Sector Interest Subsidy Scheme (CSIS) offers interest subsidies during the moratorium period, and the Credit Guarantee Fund for Education Loans (CGFSEL) provides guarantees for loans without collateral.
This national portal integrates various government-sponsored loan schemes, allowing users to check their eligibility and apply online. It serves as a one-stop digital platform for availing loans under different government initiatives.