The Indian central government runs various types of schemes to help the economically weaker people of its country, which aims to uplift the lifestyle of these people. To provide empowerment to women in society, recently the government has launched the Navi Swarnima Loan Scheme, which is specially designed to empower women of backward classes. Let's know the complete details of this scheme

Target audience: This scheme is designed for women of poor backward classes, which provides them with the necessary financial assistance to become self-reliant.

Loan amount: Eligible women can get a loan of up to ₹ 2 lakh, provided their annual family income does not exceed ₹ 3 lakh.

Interest rates: This scheme offers an attractive annual interest rate of only 5%, which is much lower than the normal market rates.

Flexible repayment: Borrowers will benefit from a convenient repayment structure, with EMIs paid every three months over up to 8 years.

Use of funds: The loan can be used to start a small business or cover educational expenses, providing a versatile financial solution for various needs.

Required documents: To apply for the loan, applicants need to submit required documents such as an Aadhaar card, PAN card, voter ID card, caste certificate, income certificate, and residence certificate.