National Corporation's Scheme : Micro Credit Finance

The Non-Governmental Organizations (NGO's) which have established Self Help Groups (SHG) are granted loans up to Rs. 5 lacs under this scheme for disbursement to SHGs.

The NGO is expected to disburse this loan to the members of the OBC, the upper limit per beneficiary is Rs. 20,000. The loan is granted to the NGO @ 4% and the NGO is expected to grant the loan to the SHG @ 9%.

The loan is repayable within 24 months.

This Scheme will be working through registered Private Independent Organization, which is working from 3 years onward.

Loan limit given to this organization is Rs. 5 lacs.
Loan amount up to 10,000 forPersonal Beneficiaries, 90% will be contributed by National Corporation and 10% of the loan amount by beneficiary itself.
Repayment period will 24 months.
Loan amount given through Corporation to the Organization Interest rate will be 7%.
For loan given to beneficiary by the Organization, interest rate will be 12%.
Incentive of half percent will be given to those beneficiaries, who repay the loan amount regularly.