Stand up India scheme provides loans or you can say financial help to women entrepreneurs as well as women belongs to SC and ST category. Stand Up India scheme actually has been commenced by the government of India in order to help people belonging to the SC and ST categories of the society. The major objective of this scheme is to assist banks in providing loans with a value of 10 lacs to 1 crore in helping entrepreneur women to set up their businesses.
Stand up India Scheme 2022
In order to download the form, you need to visit the link standupmitra.in. The interest rate and eligibility criteria of this scheme:
- Interest Rate: – Bank’s MCLR+ 3%+ tenor premium
- Repayment time of this loan:- 7 years max with moratorium period which is of 18 months
- Age Criteria: – 18 years for SC and ST category and Women with an excellent idea will also get admired.
- The amount of the loan:- between 10 lacs to 1 crore
- Loans will be offered only to the first timers.
- The loan repayment status of the recipient should be crystal clear. He or she should not be a defaulter.
Stand up India Loan Apply online
Features of Stand-up India Scheme:- Interest rate will be set by the desired bank. A minimum age criterion is 18 years for both SC and ST categories of the society. This loan is applicable for individuals venturing into the trading and manufacturing industry only. The candidate who is applying for the loan scheme should not be a defaulter from any of the commercial banks. He should have a clean history.
Loans can be utilized for SC and ST category and the repayment time is 7 years maximum along with the moratorium period of 18 months. There is no subsidy in this scheme. The details of this Stand up India loan scheme: – 75% of the project cost will be given by the government in the form of this scheme and the borrower has to pay the 25% of the project cost.
Stand up India Registration online
Documents needed for this loan scheme:-
- Application form duly filled along with the applicant’s passport size photographs.
- Identity proof is also required including passport, driving license, voter card and PAN card.
- Residence Proof: – Voter card, electricity bill and telephone bills.
- Business location proof is also required.
- Rent agreement
- You can also show the last 3 years’ balance sheets of your company.
- And the bank may ask for some other document as well so you have to be ready for that as the loan amount is pretty good so the list of documents required will also be a huge.
This scheme actually is an excellent platform to support the entrepreneur and especially for the SC and ST category of society.
|Mitra||Standup India Mitra|
|Under||Government of India|
|Loan||Stand Up India Loan Interest Rate|
|Login||Stand Up India Login|
|Motive||Empowering Youth for new business|
Stand Up Media Interest Subsidy Status
Stand Up India Scheme Bank’s list:-
- Bank of Baroda
- Axis Bank
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- ICICI Bank
- IDBI Bank
- UCO Bank
- Union Bank of India
- State Bank of India
- Punjab National Bank
- Punjab and Sind Bank
- Jammu and Kashmir Bank ltd
- Indian Overseas Bank
- Indian Bank
Steps to follow in order to get registered for this loan scheme:-
- The first step is to visit the official website https://www.standupmitra.in/login/register’
- Then fill in the registration form dully and in that form, first you need to fill in your business location and other details like address, state and district of that location.
- Then select the option women entrepreneur and after that you need to share your business idea, your desired loan amount, your business activities, space or location of your business and you have to tell that you are a first timer that means you are venturing into the business for the first time.
- Last step is you have to fill in your personal details like name, company name, user name, contact number and email and some other details as well.
- After registration, you need to click the submit button and then you will get one registration number which you can utilize in order to check your application status.
Stand Up India Loan Subsidy 2022
How to apply for this scheme: –
- In order to apply for this scheme, first, the candidates need to visit their nearest bank and check that if the scheme is available with that bank or not.
- If the scheme is available with the bank, then you can just fill in the form dully and then submit the documents as well that are required by the bank. There are certain documents that are necessary to be submitted in order to apply for this loan scheme.
- One can also download the form from the website named standupmitra.in.
Who is eligible for this stand-up India scheme?
SC and ST women category that are having minimum age of 18 years are eligible for this scheme.
How can one apply for this loan scheme?
One can apply for this loan by visiting the nearest bank and then an application form need to be filled up along with the required documents and photographs.
Is there any subsidy available in this stand-up India loan scheme?
No there is not at all any subsidy available in this loan scheme. The loan scheme actually covers the amount of 75% of the total project cost along with the amazing interest rate from the above-mentioned private and public banks. This scheme is the best initiative taken by the government in order to help women entrepreneurs, especially women from the SC and ST sections of the society.
So, in this article, things have been elaborated in detail so that one can have the maximum information regarding this loan scheme after reading this article. Applicants who are interested can apply for this loan scheme and can make your business turn towards successful heights of profit.
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