Medium Term Loan for Tribal Members in Tamil Nadu Cooperatives

Overview

Large-Sized Multi-Purpose Cooperative Societies in Tamil Nadu provide medium-term loans specifically to tribal members. These loans are intended to support tribal communities in taking up income-generating activities, purchasing productive assets, or meeting significant household needs.

Objective

The scheme aims to bring tribal populations into the formal credit fold, reducing their dependence on moneylenders. It supports their socio-economic advancement through affordable and structured lending.

Benefits

• Loan repayment spread over a medium term of 3 to 5 years
• Interest rates are lower than market rates
• Flexible end-use including agriculture, small business, and asset purchase
• Accessible through local cooperative society branches in tribal areas

Eligibility

• Must be a registered member of a Large-Sized Multi-Purpose Cooperative Society in Tamil Nadu
• Must belong to a Scheduled Tribe as per the official state list
• Must reside in the operational area of the cooperative society
• Should not have any outstanding defaults with the society or other cooperative bodies

Exclusions

• Non-tribal members of the society are not covered under this specific scheme
• Loans are not available for speculative or non-productive purposes
• Applicants with poor repayment history may be denied
• Those not registered as society members cannot directly apply

Application Process

1. Approach the nearest Large-Sized Multi-Purpose Cooperative Society
2. Become a registered member if not already one
3. Fill out the loan application form available at the society office
4. Submit the form along with required documents
5. A committee reviews and approves the application
6. Loan amount is credited to the member’s account

Documents Required

• Tribe certificate from a competent revenue authority
• Membership certificate of the cooperative society
• Aadhaar card and recent photographs
• Income declaration or certificate
• Land or asset documents (if using for collateral)
• Bank account passbook copy