Who can be a beneficiary?

1. Minority Communities as notified by the Govt. of India i.e. Muslims, Sikhs, Christians, Buddhists, Parsis, Jains .
2. Domicile of Rajashtan State, and
3. At present having total annual family income less than Rs. 81000/- in rural areas and Rs. 103000/- in urban areas for credit line-1 and 6 lacs for credit line-2.

What will be maximum loan Amount?

1. For business under term loan scheme Maximum Loan Amount for Beneficiary is 30.00 lakhs.
2. For employment Oriented Educational Courses maximum loan Amount Per Beneficiary is Up to Rs.20.00 lakhs for Professional & Job Oriented Degree Courses in India with a maximum duration of 5 years @ Rs.4.00 lakhs per annum. & Up to Rs.30.00 lakhs for Courses Abroad with a maximum duration of 5 years @ Rs.6.00 Lakhs per annum.

What will be the rate of Interest?

1. For term loan scheme On Loan Amount
   6% per annum for credit line -1 & 8 % per annum for male & 6% for female applicants under credit line -2
2. For education loan
   3% per annum for credit line -1 & 8 % per annum for male & 5% for female applicants under credit line -2
3. Micro Loan
   7% per annum for credit line -1 & 10 % per annum for male & 8 % for female applicants under credit line -2

What will be the mode of repayment?

1. For term loan scheme repayment shall start after three Months of disbursement of loan, payable in 20 quarterly instalments.
2. For education loan after six months from the date of Completion of Course or from the date he starts earnings whichever is earlier, payable in maximum 5 years.
3. For Micro loan scheme repayment shall start after three Months of disbursement of loan, payable in 36 quarterly instalments.

Where I have to apply for loan?

1. Any eligible applicant can apply for loan on line on “e-mitra.com”. He may be apply through e-mitra also. 

What is the selection process?

1. Application Forms should be submitted on line with relevant enclosures viz identity card/community certificate/project report etc.
2. Applications will be processed by District Selection Committee and eligible candidates will be selected through interview. Administrative sanction and financial sanction of selected loanee shall be sent to RMFDCC for release of fund. Having deposited 2 % membership fees and 5% Beneficiaries Contribution in District minority welfare office loan amount would be deposited in the beneficiary bank account directly by RMFDCC.
3. Applications having more than 5 lacs are sanctioned at head quarter level.

Whether any guarantee required against loan?

1. Yes, Against loan up to Rs.1.00 lac, one & exceeding Rs.1.00 lac two guarantors of State/ Central/ Bank employees are required, in lieu of it, guarantee of property amounting to 1.5 time of loan amount is also acceptable.

What are the assented documents to be enclosed with loan application?
Common Documents:

• Income Certificate
• Residence Certificate
• Minority Certificate
• No dues Certificate
• BPL Certificate in case of BPL
• Copy of Bhamashah Card
• Copy of PAN Card
• Copy of Aadhar linked Bank Account
• Mortgage Deed
• Guarantee Deed
• Advance 20 Checks
• 5 % Own Contribution & 2 % Membership fee.

1. For Term loan Schemes:-

• Project Report with Quotations
• Document for holding title of working place

2. For Education Loan:-

1. Proof of Confirmed Admission
2. Details of Fee etc. issued by Institutions
3. Reorganization certificate of Institutions
4. Certificate issued by the institutions regarding offering the course for the last 3 years Birth Certificates.