Details
“Short Term Loan Scheme” is a Loan Scheme by the Goa State Scheduled Tribes Finance and Development Corporation Limited, Department of Tribal Welfare, Government of Goa. Under this scheme, financial assistance/ loan is provided as a credit to individuals from the Scheduled Tribe (ST) Community to meet the immediate expenses towards Education, Medical and Business needs. The scheme aims to improve their standard of living and to bring them into the mainstream of society by fulfilling these needs.
Interest Rate, Number of Instalments, and Moratorium Period
For Education Purposes:
The loan shall be given at the interest rate of 2% per annum payable within 20 months in a maximum of 20 instalments with a moratorium period of 3 months.
For Business and Medical Purposes:
The loan shall be given at the interest rate of 2% per annum payable within 10 months in a maximum of 10 instalments with a moratorium period of 03 months.
Penal interest
If the loan is overdue, 1% of penal interest will be charged on the amount of the overdue instalment.
Recovery
The entire loan along with interest will be recovered according to the rules in force.
Benefits
Short Term Loan of up to ₹ 1,00,000/- as an advance to meet the Financial requirement urgently for Business/ Education/ Medical Purposes.
Eligibility
- The applicant should be an individual from the Scheduled Tribe (ST) Community of the State of Goa.
- The applicant can reapply under the said scheme provided he has cleared earlier loans availed under the scheme.