|
Various loan schemes
JANANIDHI
NYCS is primarily established for the welfare and upliftment of the youth. Keeping this in mind, for young and eligible Entrepreneurs, an extra incentive is offered by way of rebate (0.50%) in the prevailing rate of interest. The criteria for this rebate are:
1. the account should be all the way regular and
2. The Entrepreneur should be below 35 years of age.
For all other loan accounts, the Rate of Interest will be 18% p.a. w.e.f. 1st December 2011.
EMI for loan amount of Rs.25000/- for different periods will be as under:
| Amount |
Period |
Rate of interest |
EMI amount |
Interest amount |
| 25000 |
12 months |
18% |
2300 |
2505 |
| 25000 |
24 months |
18% |
1250 |
4955 |
| 25000 |
36 months |
18% |
925 |
7540 |
| *interest calculate reduce basis |
The Loan Schemes launched by Jananidhi centers are:
- Personal Loan Scheme
- Business Loan
- Loan against Fixed Deposits (FD Loan)
- Mortgage Loan
- SHGs loan
- Vehicle Loan
Personal Loan Scheme: The loans granted under Personal loan scheme also should have some valid purpose. The purpose may vary from purchasing consumer durable items like freeze, TV, or gold ornaments or for expenditure on medical, educational or even for domestic ceremonies. Personal loans should be backed by two capable and sound guarantors.
Business Loan Scheme: This loan is designed for small businessmen, Entrepreneurs, vendors, hawkers, which will enable them to meet working capital requirements.This, will help them to procure and store seasonal goods.
Term Loan: This type of loan will be useful for businessmen or professionals like Doctors etc. to acquire some furniture item or some instruments, which will be of help to them for running and expanding their economic activities.
Mortgage Loan: The applicants who have clear and marketable title to the immovable property but in urgent need of funds can avail this facility. Registered mortgage in favour of JNFSC will be created on their property after valuation, and loan will made available to them.
Loan against Deposits (FD Loans): Loans may be granted to depositors to meet any unprecedented financial need by marking lien on their deposits. Depositors should surrender F.D.Receipts/R.D.Passbooks/Cash Certificates duly discharged along with D.P. Note and DP Delivery letter. The rate of interest for this loan will be 2% more than the rate offered on deposit. This loan will cease automatically on maturity of Deposit, if not closed prior to that.
The Rate of Interest is subject to periodic changes in line with market conditions, kindly contact our nearest Jananidhi Centre for further details and up to date information.
|
