Direct Lending Scheme
Through the "Direct Lending Scheme", the Punjab Scheduled Castes Land Development & Finance Corporation (PSCLDFC) provides direct loans for the economic upliftment of the members of the Scheduled Castes and Handicapped People in the state of Punjab.
About This Scheme
Benefits
₹10.0K · monthly
- Loan Amount: The loanees are eligible for a subsidy of special Central Assistance @ 50% of the loan amount or ₹ 10,000/- (whichever is less).
- Sources of Funds: Share Capital Funds
- Repayment Period: The period varies according to the kind of project with monthly, bimonthly, quarterly, or half-yearly installments with a maximum period of repayment of 15 years for land purchase cases.
- Rate of Interest: Up To 50,000/- @ 5% and above ₹ 50,000/- @8%.
Note: Penal Interest @ 5% is charged for delayed payment/ non-repayment/violation of terms and conditions of the loan.
Eligibility
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Required Documents
- ✦Application form duly attested by competent Authority.
- ✦Residential Certificate / Domicile Certificate of the State of Punjab.
- ✦Caste Certificate / Disability Certificate.
- ✦Valuation Certificate of property to be mortgaged.
- ✦Map of the Property.
- ✦Farad Zama Bandi.
- ✦A copy of the registry (if the property is self-purchased).
- ✦Affidavit regarding the loan.
- ✦3 Passport-Sized Photograph (Signed Across).
- ✦Employer Certificate, Salary Certificate, and Surety Bond (in the case of Service Surety).
- ✦Aadhaar Card.
- ✦Details of the Bank Account (Bank Name, Branch Name, Address, IFSC, etc).
- ✦Proof of Age.
- ✦Income Certificate.
✦ Required ◦ Optional
How to Apply
Step 1: Take a print of the format of the Application Form (Form-I, Form-II) from the official website of the Punjab Scheduled Castes Land Development & Finance Corporation (PSCLDFC). The format of the application form is also available free of cost at the District Offices.
Step 2: Fill in all the mandatory fields, paste the passport-sized photograph (signed across), and attach all the (self-attested) mandatory documents.
Step 3: Submit the duly filled and signed application form along with the documents to the District Office.
Step 4: Acquire the receipt/acknowledgment of the successful submission of the application form from the District Office.
Post-Application Processes:Step 1: The cases are referred to a screening committee under the chairmanship of ADC (D) for scrutiny.
Step 2: The cases are then sent to the Head Office for sanction. After sanction, the cases are sent to District offices for the execution of the Mortgage Deed.
Step 3: Thereafter payment is made subject to completion of all formalities from H.O. into the Bank A/C of the loanee directly through RTGS.
Quick Info
- Level
- State Government
- Max benefit
- ₹10.0K