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Interest Subvention on SHG Loans (DAY-NRLM)

Ministry of Rural Development

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Why it matters

Makes SHG bank loans almost free — interest subvention brings the effective rate down to 7%, and to just 4% for prompt repayment in priority districts.

Launched

1 Apr 2013

Valid until

Ongoing

Benefit type

Loan / Credit

Created by

Government of India

Farmers benefited

60 L

What you get

Interest subvention on loans to women SHGs: loans up to Rs 3 lakh at an effective 7% per annum, with an additional subvention for prompt repayment bringing it to 4% in identified districts.

Eligibility criteria

  • Women Self-Help Group under DAY-NRLM
  • Loan from a scheduled commercial / cooperative bank
  • Prompt / regular repayment for the additional subvention
  • Located per scheme district norms for the 4% benefit

How to apply

  1. 1

    Avail an SHG bank loan under DAY-NRLM

  2. 2

    Repay instalments on time

  3. 3

    Bank / SRLM credits the interest subvention to the SHG account

  4. 4

    Reduced effective interest cost to the group

Documents required

  • SHG bank loan account
  • Repayment record
  • DAY-NRLM SHG membership proof

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