NBCFDC General Loan Scheme for Backward Classes
Overview
The NBCFDC General Loan Scheme is a central government initiative run by the National Backward Classes Finance and Development Corporation. It provides concessional loans to people from backward classes to help them start or expand income-generating activities.
The scheme operates through State Channelising Agencies (SCAs), which act as the bridge between NBCFDC and the beneficiaries.
Objective
The scheme aims to improve the economic conditions of backward class communities by giving them access to affordable credit. It supports self-employment and small business ventures that can generate sustainable income.
Benefits
- Loans up to Rs 15 lakh per beneficiary
- Concessional interest rates starting at 6% per annum
- Repayment period of up to 7 years
- Loan disbursed through State Channelising Agencies
Eligibility
- Must belong to a notified Backward Class community
- Annual family income should not exceed Rs 3 lakh
- Age between 18 and 55 years
- Must be a resident of the state where the application is made
Exclusions
- Individuals who have already defaulted on loans from NBCFDC or SCAs are not eligible
- Those with annual income exceeding the prescribed limit are excluded
- Activities that are not income-generating or economically viable may not qualify
Application Process
- Visit the nearest State Channelising Agency office in your state
- Collect the application form and fill it with correct details
- Submit the form along with required documents to the SCA
- The SCA reviews and forwards eligible applications to NBCFDC
- Upon approval, the loan is disbursed through the SCA
Documents Required
- Caste certificate from a competent authority confirming backward class status
- Income certificate issued by a government official
- Age proof (Aadhaar, birth certificate, or voter ID)
- Address proof (Aadhaar card, ration card, or utility bill)
- Passport-size photographs
- Project report or business plan for the proposed activity
- Bank account details
