Samramba Samunnathi (Interest Incentive schemes)

Encouraging Self Help Groups (SHG) and Joint Liability Groups (JLG) from forward communities, Samunnathi has come up with an interest incentive schemes for their loan. Each group either SHG or LJG will get 4% interest incentive for a maximum loan amount of six lakh.

Eligibility Conditions

• Application must be given by SHG/JLG directly to their concerned Voluntary Group
• Voluntary Groups must provide a consolidated application of various groups working under them to the Corporation
• Group members will be from forward communities and residents of Kerala. Only forward community members in the group will be eligible for this.
• Applicants must make sure that, they are not availing any incentives for the same loan from any Government/ Non –Government agencies, banks and other financial institutions.
• Annual income of the group members from all sources should not exceed two lakhs.
• Only loans availed during the financial year 2014-15 are eligible for this scheme.

Rules for acquiring Interest Incentive

• A unit will get interest incentive for a maximum of 6 lakh.
• Units having Non-performing (NP) loan accounts are not eligible for this scheme.
• Apply with fully filled application form along with recommendations and related records through a voluntary group.
• Each group must have an active SB Account and it must be noted correctly in the application form.
• Interest Incentive will be given by the corporation to the SHG/JLG through fund transfer to the SB Account of SHG/JLG.

Personal Interest Incentive Scheme
Samunnathi in association with IDBI bank will provide loans or interest incentives for those who are ready to start agricultural activities under Micro, Small and Medium Enterprises (MSME) from the forward communities.

Details of the scheme: