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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.

Ministry / Department
Department of Finance
Level
State
Benefit type
other
Last verified: Recently

What is 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.

Benefit
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.
Level
State — Punjab
Ministry / Dept.
Department of Finance
Benefit type
other
Key eligibility
1. The applicant should be a citizen of India. 1. The applicant should be a domicile / permanent resident of the state of Punjab. 1. The applicant should be from Below Poverty Line (BPL). 1. The applicant should be from the Scheduled Caste category OR the applicant should be a Person with Disability
Last verified
Recently

Benefits

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

1. The applicant should be a citizen of India. 1. The applicant should be a domicile / permanent resident of the state of Punjab. 1. The applicant should be from Below Poverty Line (BPL). 1. The applicant should be from the Scheduled Caste category OR the applicant should be a Person with DisabilityArea: PunjabBenefit: other

Documents Required

    How to Apply

    1. Step 1: Offline application — step 1

      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.

    2. Step 2: Offline application — step 2

      Step 2: Fill in all the mandatory fields, paste the passport-sized photograph (signed across), and attach all the (self-attested) mandatory documents.

    3. Step 3: Offline application — step 3

      Step 3: Submit the duly filled and signed application form along with the documents to the District Office.

    4. Step 4: Offline application — step 4

      Step 4: Acquire the receipt/acknowledgment of the successful submission of the application form from the District Office.

    5. Step 5: Offline application — step 6

      Post-Application Processes:

    6. Step 6: Offline application — step 7

      Step 1: The cases are referred to a screening committee under the chairmanship of ADC (D) for scrutiny.

    7. Step 7: Offline application — step 8

      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.

    8. Step 8: Offline application — step 9

      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.

    Sources & References

    Ready to apply?

    Applications are accepted only on the official government portal.

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