Government Loan Schemes
Special loan schemes with subsidies and lower interest rates
Why Government Schemes?
Government-backed schemes offer lower interest rates, interest subsidies, collateral-free options, and easier eligibility compared to regular bank loans.
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Showing 14 schemes
Mudra Loan (PMMY)
BusinessMicro Units Development & Refinance Agency loan for small businesses
Categories
Key Benefits
- No collateral required
- Low interest rates (8-12%)
- Available at all banks
- Quick processing
Eligibility
Any Indian citizen with business plan for non-farm income generating activity
PM Awas Yojana (PMAY)
HousingHome loan subsidy for first-time home buyers in India
Categories
Key Benefits
- Interest subsidy up to ₹2.67 Lakh
- Subsidy credited upfront
- Available across all banks
- Extended till Dec 2024
Eligibility
First-time home buyer, no house in family member's name
Vidya Lakshmi Education Loan
EducationSingle portal to apply for education loans from multiple banks
Categories
Key Benefits
- Compare schemes from 40+ banks
- Single application for multiple banks
- Interest subsidy for EWS students
- No collateral up to ₹7.5 Lakh
Eligibility
Indian students with admission to recognized institutions
Stand-Up India
Women & SC/STBank loans for SC/ST and women entrepreneurs
Categories
Key Benefits
- Loan ₹10 Lakh to ₹1 Crore
- Covers 75% of project cost
- Repayment up to 7 years
- CGTMSE coverage available
Eligibility
SC/ST or Women entrepreneur, first-time borrower in enterprise
CGTMSE Scheme
MSMECredit Guarantee for Micro & Small Enterprises without collateral
Categories
Key Benefits
- Guarantee up to ₹5 Crore
- No collateral/third party guarantee
- 85% coverage for micro units
- Lower interest rates
Eligibility
New and existing MSEs engaged in manufacturing/service
SBI Student Loan Scheme
EducationComprehensive education loan for studies in India and abroad
Categories
Key Benefits
- 100% finance for studies
- Moratorium during study + 12 months
- No processing fee
- Tax benefit under Sec 80E
Eligibility
Indian student with secured admission, Indian co-applicant required
PM SVANidhi Scheme
Street VendorsMicro-credit scheme for street vendors affected by COVID-19
Categories
Key Benefits
- Collateral-free loans
- 7% interest subsidy on timely repayment
- Digital transaction cashback
- No penalty on early repayment
Eligibility
Street vendors engaged in vending as on 24th March 2020
Kisan Credit Card (KCC)
AgricultureCredit facility for farmers to meet agricultural expenses
Categories
Key Benefits
- Interest subvention of 2%
- Additional 3% on prompt repayment
- Effective interest rate 4%
- Insurance coverage included
Eligibility
Farmers - individual/joint borrowers who are owner cultivators
PM Vishwakarma Scheme
ArtisansScheme for traditional artisans and craftspeople
Categories
Key Benefits
- First loan up to ₹1 Lakh at 5%
- Second loan up to ₹2 Lakh
- Stipend during training
- Digital transaction incentive
Eligibility
Artisans and craftspeople engaged in 18 traditional trades
Startup India Seed Fund
StartupsFinancial assistance to startups for proof of concept and prototype
Categories
Key Benefits
- Grant-based funding
- Mentorship support
- No equity dilution for seed
- Fast-track processing
Eligibility
DPIIT recognized startups incorporated less than 2 years ago
Mahila Udyam Nidhi Scheme
Women EntrepreneursSmall Industries Development Bank of India scheme for women entrepreneurs
Categories
Key Benefits
- Loan up to ₹10 Lakh
- Concessional interest rates
- Relaxed collateral norms
- Priority sector lending
Eligibility
Women entrepreneurs with at least 51% ownership in business
Credit Linked Capital Subsidy (CLCSS)
MSMETechnology upgradation scheme for MSMEs
Categories
Key Benefits
- 15% capital subsidy (max ₹15 Lakh)
- On approved machinery/equipment
- One-time subsidy
- Promotes modernization
Eligibility
Existing and new MSMEs in manufacturing/service sector
NSKFDC Loan Scheme
Social WelfareNational Safai Karamcharis Finance & Development Corporation scheme
Categories
Key Benefits
- Loan up to ₹15 Lakh
- Concessional interest (5-6%)
- Subsidy on training
- No collateral for loans up to ₹5 Lakh
Eligibility
Safai Karamcharis, manual scavengers and their dependents
NHFDC Loan Schemes
Persons with DisabilitiesNational Handicapped Finance Development Corporation for persons with disabilities
Categories
Key Benefits
- Loan up to ₹25 Lakh
- Concessional interest (4-6%)
- No collateral up to ₹10 Lakh
- Flexible repayment terms
Eligibility
Persons with disabilities (40% or more) with family income below ₹3 Lakh/year
Scheme details are indicative and subject to change. Please verify with official sources before applying.