About this banking scheme
A term loan scheme by the Ministry of Social Justice and Empowerment for women entrepreneurs from backward classes to obtain a loan of up to Rs. 2,00,000/- @ 5% per annum, thereby providing them social & financial security.
The scheme "New Swarnima Scheme For Women" has been implemented by the Ministry of Social Justice and Empowerment, Govt of India. It aims to provide women entrepreneurs from backward classes to obtain a loan of up to Rs. 2,00,000/- @ 5% per annum, thereby providing them social & financial security. The scheme is introduced by the National Backwards Classes Finance and Development Corporation (NBCFDC) and implemented by State Channelising Agencies (SCAs), which act as the nodal agency.
Benefits at a glance
| Scheme name | New Swarnima Scheme For Women (NSSW) |
|---|---|
| Launched by | Ministry Of Social Justice and Empowerment |
| Benefit type | Cash (money paid to your bank account) |
| Category | Banking |
| Level / State | Central · All India |
| Official portal | nsfdc.nic.in (link at the end of this page) |
Key facts
| Scheme type | Centrally Sponsored Scheme |
|---|---|
| Implementing agency | State Channelising Agencies (SCAs) Of National Backward Classes Finance & Development Corporation (NBCFDC) |
| Scheme for | Individual |
| Application mode | Offline |
| Last date | Not given in the official listing |
| DBT (direct bank transfer) | No |
| Family income limit | Up to Rs. 3 lakh per year |
Who can apply (quick check)
- 👤Female
- 🎂Age 18 to 55 years
- 💰Income Rs. 3 lakh tak
- 📝Offline
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
- A subsidy amount of Rs. 2,00,000/- @ 5% per annum, for self-employment. (The remaining amount has to be self-owned by the beneficiary.)
- The beneficiary woman is not required to invest any amount of her own on the projects upto cost of Rs. 2,00,000/-.
Who qualifies
- The applicant must be a Female.
- The applicant's age must be between 18 and 55 years.
- The applicant must be an Entrepreneur
- The Total Annual Family Income of the Applicant must be Less than Rs. 3 Lakh per Annum.
Who is not eligible
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Papers to keep ready
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Registration walkthrough
Offline
Step 1: The eligible applicant needs to visit the nearest SCA office and apply on the prescribed form for the Swarnima Scheme for Women. You can find your nearest SCA office at this link - https://nsfdc.nic.in/channel-patrners/scas
Step 2: Enter the necessary details in the application form and mention the needs and choice of vocation and training requirements, if any.
Step 3: Submit your application form and the required documents to the same SCA office. After reviewing the application, the loan will be sanctioned by SCA.
Terms used in this scheme
- backward classes
such backward classes of citizens other than the Scheduled Castes and the Scheduled Tribes as may be specified by the Central Government in the lists.
Frequently asked questions
What is the maximum size of the loan under the Swarnima Scheme?
Under this scheme, the eligible woman entrepreneur can obtain a term loan of max. Rs. 1,00,000/- @ 5% per annum.
What is the minimum amount that I am required to invest on my own if the project cost is under Rs.2 LPA?
The beneficiary women is not required to invest any amount of her own on the projects upto cost of Rs.2,00,000/-.
How much will be the interest rate for the loan?
The rate of interest would be as follows -
NBCFDC to SCA: 2% per annum
SCA to Beneficiary: 5% per annum
By when am I expected to repay the loan?
Loan is to be repaid in quarterly instalments with maximum 8 years (including the moratorium period of six months on the recovery of principal).
I seek to know more about the Pattern of Financing?
The loan will be provided up to 95% and balance 5% provided by the State Channelizing Agencies (SCAs) or Beneficiary contribution. The utilization period is 4 months from the date of disbursement of the loan.
Can women entrepreneurs from GENERAL category also apply to this scheme?
The official listing gives no last date, so check the official portal for the current status before applying.
I am a 21 years old female entrepreneur. I wish to know if there is an age-criteria to be eligible to apply to this scheme?
Yes, the applicant should be atleast 18 years in age in order to be eligible to apply to this scheme. You are therefore eligible to apply.
Can a male entrepreneur from OBC category also apply to this scheme?
No, as per the latest guidelines, this scheme is not meant for male entrepreneurs.
Should the project / venture need to be from a specific sector in order to be eligible for the Swarnima scheme?
NBCFDC supports the economically weaker section in developing self-employment ventures only under the following sectors:
Agriculture and Allied Activities.
Small Business.
Artisan and Traditional Occupation.
Technical and Professional Trades/Courses.
Transport and Service Sector.
Is there a helpline number where I can get answers for my queries reg. the application process?
Yes, the Toll Free Number is 18001023399.
What are SCAs?
NBCFDC grants financial assistance through State Channelising Agencies (SCAs). Also, they provide funding through SCAs/ Self Help Groups (SHGs). The SCAs or Banks will release up to 50% of total funding to women with annual income up to Rs.1.50 Lakh.
How do I know if a field in the application form is mandatory?
The mandatory fields have a red asterisk (*) mark at the end.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Entrepreneurial Schemes Of NBCFDC socialjustice.gov.in
- Scheme Guidelines By NBCFDC nbcfdc.gov.in
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
The details on this page are from the official listing and have not been rewritten or reviewed by our team yet. Confirm them on the official portal before applying.
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