Loans & Financial Services Schemes

CGTMSE is a trust of the Ministry of MSME and SIDBI that guarantees collateral-free loans to micro and small enterprises, covering up to 85 per cent of the default on a credit facility with a ceiling now raised to Rs 10 crore per borrower. Enterprises do not apply to CGTMSE; the lending bank applies for the cover.

PMJDY is the Department of Financial Services mission launched on 28 August 2014 that gives every unbanked adult a zero-balance bank account, a free RuPay debit card with Rs 2 lakh accident insurance and an overdraft of up to Rs 10,000. Any Indian adult can open one at a bank branch or Bank Mitra with Aadhaar-based e-KYC.

PMJJBY is a government-backed term life insurance scheme that pays Rs 2 lakh to the nominee on the death of the subscriber from any cause. Bank or post office account holders aged 18 to 50 years can join by paying a premium of Rs 436 a year, auto-debited from the account, for cover running 1 June to 31 May.

PMMY is a Government of India scheme that provides collateral-free loans of up to Rs 20 lakh to non-corporate, non-farm micro enterprises through banks, NBFCs and microfinance institutions. Loans fall under four categories - Shishu, Kishore, Tarun and Tarun Plus. Apply at any lending bank branch or online at udyamimitra.in or jansamarth.in.

PMSBY is a government-backed accident insurance scheme that pays Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability. Bank or post office account holders aged 18 to 70 years can join for a premium of Rs 20 a year, auto-debited for cover running 1 June to 31 May.

Stand-Up India is a Government of India scheme that provides bank loans of Rs 10 lakh to Rs 1 crore to Scheduled Caste, Scheduled Tribe and women entrepreneurs aged above 18 for setting up a new greenfield enterprise. Repayment runs up to 7 years with an 18-month moratorium. Apply at standupmitra.in or any scheduled commercial bank branch.

Atal Beemit Vyakti Kalyan Yojana is an ESIC scheme under the Ministry of Labour and Employment that pays unemployment relief of 50% of average daily wages for up to 90 days, once in a lifetime, to insured workers who lose their job. Claims are filed directly with the ESIC branch office after a 30-day waiting period.

The Export Interest Subvention Scheme gives MSME manufacturer and merchant exporters 2.75% per annum off the interest on pre-shipment and post-shipment rupee export credit, capped at Rs 50 lakh per firm per financial year. Banks pass the benefit on upfront and reclaim it from RBI. Firms apply online on the DGFT portal; individuals cannot claim.

JanSamarth is the Government of India's national portal for credit-linked government schemes, launched on 6 June 2022 by the Department of Financial Services. JanSamarth hosts 15 central subsidy-linked loan schemes covering education, agriculture, business and livelihood, with about 250 lenders onboarded. Apply free at jansamarth.in after an online eligibility check.

Kisan Vikas Patra is a small savings certificate from the Ministry of Finance, sold at post offices and select banks, that pays 7.5% interest for the July-September 2026 quarter and doubles the money in 115 months. Any resident Indian adult can invest from Rs 1,000 with no upper limit by submitting Form A and KYC documents.

National Savings Certificate (VIII Issue) is a Government of India small savings scheme sold at post offices, paying 7.7% annual interest (July-September 2026) compounded yearly over a 5-year term. It needs a minimum of Rs 1,000 with no maximum, qualifies for a Section 80C deduction up to Rs 1.5 lakh, and is opened at any India Post office or online.

Swatantrata Sainik Samman Pension Scheme is a Central Sector scheme of the Ministry of Home Affairs that pays a monthly samman pension of Rs 26,000 to Rs 30,000, plus Dearness Relief, to living freedom fighters and their eligible dependents. Applications are processed by the Freedom Fighters and Rehabilitation Division after verification of proof of freedom-struggle suffering.

The Amended Technology Upgradation Fund Scheme (ATUFS) of the Ministry of Textiles gives textile manufacturing units a one-time Capital Investment Subsidy of 15% (up to Rs 30 crore) for garmenting and technical textiles, and 10% (up to Rs 20 crore) for other segments, on eligible benchmarked machinery. Units apply online through the i-TUFS portal; it is not a citizen benefit.

The Education Loan Scheme of NMDFC gives concessional loans of up to Rs 20 lakh for study in India and up to Rs 30 lakh abroad to students from notified minority communities. Interest is 3% a year under Credit Line-1 (family income up to Rs 3 lakh) and 8% under Credit Line-2, with a 3% concession for women. Apply through your State Channelising Agency.

This Kendriya Sainik Board scheme reimburses 50% of the interest, up to a maximum of Rs 1,00,000, on a home-construction loan taken by war widows, war disabled and attributable peace-time casualties of the armed forces. The subsidy runs for up to 5 years and is funded from the Armed Forces Flag Day Fund. Applications go through the Zilla Sainik Board.

The Group Insurance Scheme for Powerloom Weavers is a Ministry of Textiles scheme that gives powerloom weavers and workers life and accident cover. The revised scheme paid Rs 60,000 on natural death, up to Rs 1,50,000 on accidental death or permanent disability, plus a Rs 600 half-yearly education grant per child. It is now delivered through the converged PMJJBY and PMSBY route.

The Group Personal Accident Insurance Scheme for Coir Workers is a Coir Board welfare measure under the Ministry of MSME that insures registered coir workers against accidental death and permanent disability. The Coir Board subsidises the premium so the worker pays only a small share. Workers enrol through Coir Board offices and registered coir units.

Indira Gandhi National Disability Pension Scheme pays a monthly pension to people with severe or multiple disabilities from Below Poverty Line families. The central contribution is Rs 300 a month for beneficiaries aged 18 to 79 and Rs 500 a month at 80 and above, with most states adding a top-up. Apply free through your Gram Panchayat or municipality.

The International Cooperation Scheme's Market Development Assistance (MDA) component helps Indian MSMEs reach export markets by funding participation in international exhibitions, trade fairs and conferences, in physical and virtual mode. Industry associations, government MSME bodies and MSME units apply. Under linked MDA norms, a participating micro/small unit's subsidy is capped at about Rs 1.25 lakh.

Jute Raw Material Bank Scheme is a National Jute Board programme under the Ministry of Textiles that sets up Raw Material Banks so artisans, self-help groups and micro-units making jute diversified products can buy jute yarn and fabric at mill-gate rates in small quantities. It is an institutional support scheme, not a cash benefit; producers register through an implementing agency.

Kera Suraksha Insurance Scheme is an insurance initiative of the Coconut Development Board, the body set up in 1981 under the Ministry of Agriculture and Farmers Welfare, to give personal-accident cover to coconut tree climbers and harvesters who do the high-risk work of climbing palms. Interested climbers apply through the Coconut Development Board and its State Centres.

Khadi Karigar Janashree Bima Yojana is a group insurance scheme of the Khadi and Village Industries Commission (KVIC), under the Ministry of MSME, that covers khadi artisans aged 18 to 59 for death and disability through LIC's social-security insurance framework, along with a scholarship for their children. Enrolment is through the artisan's khadi institution.

The Loan based Scheme for Pay and Use Community Toilets, run by NSKFDC under the Ministry of Social Justice and Empowerment, gives Safai Karamcharis and their dependants loans of up to Rs 25 lakh per unit to build, operate and maintain pay-and-use community toilets in PPP mode, at a concessional 4% interest (3% for women). Loans are applied for through channelising agencies.

Mahila Samman Savings Certificate is a one-time small savings scheme for women and girls that pays a fixed 7.5% annual interest, compounded quarterly, on deposits from Rs 1,000 up to Rs 2 lakh, maturing in two years. The scheme was open only from April 2023 to 31 March 2025 and no longer accepts fresh deposits at post offices or banks.

Micro Credit Finance is a concessional loan facility of NSFDC under the Ministry of Social Justice and Empowerment for Scheduled Caste persons whose annual family income is up to Rs 5 lakh. It funds up to 90% of a small income-generating project, with a maximum of Rs 1.25 lakh per unit at 6.5% interest, disbursed through State Channelising Agencies.

The Micro Finance Scheme of NMDFC gives small, collateral-free loans of up to about Rs 1,00,000 per member to people from notified minority communities with annual family income up to Rs 3 lakh. At least 85% of beneficiaries must be women. Loans flow through State Channelising Agencies and NGOs to Self Help Groups; you apply through a partner NGO.

Mission Solar Charkha is a Ministry of MSME scheme, run through KVIC, that builds solar-powered khadi clusters to give rural spinners and weavers steady work. Launched in 2018 with a Rs 550 crore outlay, it supports up to 50 clusters with capital subsidy and interest relief. Artisans join through a registered cluster or SPV, not by individual application.

The NBCFDC General Loan Scheme gives Backward Class members with annual family income up to Rs 3 lakh concessional term loans of up to Rs 15 lakh for income-generating activities, at 6-8% interest depending on loan size. NBCFDC funds up to 85% of the project cost, routed through State Channelising Agencies and partner banks. Apply through your State Channelising Agency.

The Weaver MUDRA Scheme, under the National Handloom Development Programme, gives handloom weavers concessional bank loans at 6% interest with margin money of 20% up to Rs 10,000 and a 3-year credit guarantee. Loans up to Rs 10 lakh are MUDRA loans. Weavers apply through participating banks.

New Swarnima Scheme for Women is a concessional term loan of the NBCFDC that lends up to Rs 2,00,000 at 5% interest a year to women of Backward Classes with annual family income up to Rs 3,00,000. The borrower puts in no margin money of her own. Apply through your State Channelising Agency.

The Central Sector Interest Subsidy Scheme (CSIS), part of PM-USP, pays the full interest on education loans up to Rs 10 lakh during the moratorium period for students from families earning up to Rs 4.5 lakh a year who study professional or technical courses in India. It is claimed through your bank, not by direct application.

The Post Office Monthly Income Scheme (POMIS) is a Government of India small savings scheme that pays a fixed monthly interest on a lump-sum deposit. It offers 7.4% per annum (payable monthly) with a five-year term, and lets a single holder invest up to Rs 9 lakh and joint holders up to Rs 15 lakh. Any resident Indian adult can open an account at a post office.

PM-Vidyalaxmi is a Central Sector scheme of the Ministry of Education that gives meritorious students admitted to one of about 860 top Quality Higher Educational Institutions a collateral-free, guarantor-free education loan, a 75% credit guarantee on loans up to Rs 7.5 lakh, and a 3% interest subvention during the moratorium for family income up to Rs 8 lakh. Apply free at pmvidyalaxmi.co.in.

Pravasi Bharatiya Bima Yojana (PBBY) is a mandatory insurance for Indian workers emigrating on an ECR passport for overseas jobs. It gives Rs 10 lakh cover for accidental death or permanent disability, plus medical, maternity, repatriation and legal benefits. Emigrants aged 18 to 65 buy the policy online before departure through an authorised insurer.

Raw Material Assistance Scheme is run by NSIC under the Ministry of MSME and finances the purchase of raw materials against a bank guarantee, giving micro and small enterprises credit support for up to 180 days. Interest starts around 9.25% a year for SME-1 rated micro units. Apply at the nearest NSIC branch or the customer portal.

The Scholarship Scheme for Girl Children of Jute Mills / MSMEs Workers is a National Jute Board welfare scheme under the Ministry of Textiles that pays a one-time award of Rs 5,000 on passing Class 10 and Rs 10,000 on passing Class 12 to daughters of jute-mill and Jute Diversified Product (JDP) unit workers. Applications are routed through the employer.

Senior Citizens' Savings Scheme is a government-backed savings deposit for people aged 60 and above that pays 8.2% interest a year, credited quarterly. A single account can hold up to Rs 30 lakh for a 5-year term, extendable by 3 years. Open one at any post office or authorised bank; deposits qualify for Section 80C tax deduction.

The Single Point Registration Scheme (SPRS) is run by NSIC under the MSME Ministry and registers Micro and Small Enterprises for benefits under the Public Procurement Policy. Registered MSEs get free tender documents, full Earnest Money Deposit exemption and a price preference of up to 15%. Registration is online at nsicspronline.com and the certificate is valid for two years.

The Term Loan Scheme of NMDFC provides concessional self-employment loans to people from notified minority communities. Credit Line-1 offers up to Rs 20 lakh at 6% per year for families earning up to Rs 3 lakh, and Credit Line-2 up to Rs 30 lakh for families earning up to Rs 8 lakh. Apply through your State Channelizing Agency or partner bank.

Virasat is a credit scheme of the National Minorities Development and Finance Corporation (NMDFC) under the Ministry of Minority Affairs that funds traditional craftspersons from India's 6 notified minority communities. Concessional loans reach the artisan through State Channelising Agencies, not by direct application to NMDFC. Eligibility is based on minority status and a family-income ceiling notified by NMDFC.

Vocational Education and Training Loan Scheme (VETLS) is an NSFDC concessional loan for Scheduled Caste youth from families earning below Rs 3 lakh a year. It funds vocational and skill courses of up to two years, giving up to Rs 4 lakh at 4% interest a year (3.5% for women), applied for through a State Channelising Agency.