Udyogini Scheme: Get Rs 3 Lakh Interest-Free Loan! Check Eligibility, Required Documents

Udyogini Scheme for Women Entrepreneurs: Many special schemes are being run by the banks for women. The objective of these schemes is to make women self-reliant. Among all these schemes, one scheme is the Udyogini Scheme, which is not indirectly a Central Government scheme. This scheme is a scheme launched by the banks as per the instructions of the Central Government. This Scheme for Women is being run by non-banking financial companies along with government and private banks. Under this scheme, loans can be taken for small-scale, business retail, business and agriculture activities.

The Udyogini Scheme provides interest-free loans to women looking to finance their small businesses. The Udyogini Scheme is a scheme introduced by the central government to enable women to get a loan of up to Rs.3 lakh establish 88 types of small businesses and become financially stable. Applicants with the required eligibility criteria under this scheme will get a loan of up to 3 lakhs. There is no loan limit for disabled women and widows. Depending on the business, they set up and their eligibility, they can get more loans.

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To get the benefit of the Udyogini Scheme for Women, your age should be between 18 to 55 years. Under this scheme a maximum loan of Rs 3 lakh is available. The basic objective of this scheme is women's empowerment. Under this scheme, loans are given to those women who want to do their own business. Along with this, loans are also given to those women who already have some business.

The objective of the Udyogini Scheme is to make women financially independent:

One of the objectives of the Atma-Nirbhar program of the Central Government is to provide financial assistance to women for economic self-reliance. Udyogini Scheme is a scheme introduced to help women become entrepreneurs and businessmen and stand on their own feet. Although this scheme was first introduced by the Karnataka government, later the central government implemented it across the country under the supervision of the Women Development Corporation. Greater priority is given to the economic self-reliance of women, mainly in rural areas. Statistics show that so far 48 thousand women have benefited from this scheme and are excelling as small entrepreneurs.

More About Udyogini Scheme – 

Disabled, widows and Dalit women are given completely interest-free loans. Women belonging to other categories are given loans at 10 per cent to 12 per cent interest. This interest rate depends on the bank's regulations from which the woman gets the loan. Also, up to 30 per cent subsidy is given depending on the annual income of the family.

Know the special things related to the scheme.

- Under this scheme, interest-free loans are given to Scheduled Castes, Scheduled Tribes (SC – ST) and physically challenged women.

- Under this scheme, loans are given to those women who want to do their own business. Along with this, loans are also given to those women who already have a business.

- Under this scheme, a loan of up to Rs 3 lakh can be given.

- This scheme is being run independently by government, private banks as well as non-banking financial companies (NBFCs).

Know from which banks you can get a loan

There are many government and private banks from where industrial loans are easily available. Apart from this, under the Udyogini scheme, Udyogini loans can be obtained from all commercial banks, all cooperative banks and all Regional Rural Banks (RRB).

Udyogini Scheme – Who is eligible?

- All women between 18 years of age and 55 years of age are eligible.

- Women applying for this scheme should ensure that their credit score and CIBIL score are good.

- No loan will be given if any loan has been taken in the past and has not been repaid properly.

Udyogini Scheme - These documents should be submitted:

·       Two passport-size photographs should be attached along with the completed application form

·       Aadhaar card and birth certificate of the woman applying

·       Those below the poverty line should attach a copy of the ration card.

·       Income verification letter

·       Proof of Residence

·       Caste Verification Certificate

·       A Bank account passbook and other documents should be submitted.

Know how to apply

To apply for a loan under this scheme, first, take the Udyogini loan form from the bank.

- Or if you wish, entrepreneurs can also download the loan form from the website of the concerned bank.

- After taking the form, fill the form thoroughly.

- To fill out the form, one has to submit photocopies of all the documents mentioned above and submit the Udyogini Loan form to the concerned bank.

- After submitting the form, you will have to go to the bank regularly and inquire as to when your loan is being approved.

For availing of loans under the Udyogini Scheme women should approach local banks. Some private financial institutions are also providing loans under the Udyogini Scheme.