What you get
- Under this scheme, a loan of ₹25 lakhs is provided at an interest rate of 4% to the eligible candidates.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
When was the scheme initiated?
The scheme was commenced in the year 1987.
What amount of loan is provided under this scheme?
A loan of [?]25 lakhs is provided at an interest rate of 4% to eligible candidates.
What are the eligibility criteria for availing this loan assistance?
The applicant should be a native of Gujarat state and belong to the Scheduled Caste category of Gujarat State.
Can the loan be used for other purposes?
No, the loan should be strictly used for training purposes. Any deviation may result in recovery with penal interest.
Are there any conditions regarding repayment of the loan?
Beneficiaries are free to repay the amount earlier than the due date. However, there are consequences for defaulting on repayments.
Is there any obligation after completing the training?
Yes, beneficiaries must render services in India for a minimum of five years after completing the training. Failure to do so may require repayment of the assistance with interest.
How can one apply for this loan assistance?
Eligible applicants can apply through the e-Samaj Kalyan Portal: https://esamajkalyan.gujarat.gov.in/
What happens if the trainee settles abroad after training?
The entire amount of assistance must be returned to the Government of Gujarat with interest.
How is the rate of exchange determined for trainees undergoing training abroad?
The rate of exchange is fixed by the Reserve Bank of India, and allowances for trainees must also be approved by the Reserve Bank.
How long is the repayment period for the loan?
The loan must be repaid within 10 years, including a two-year grace period for interest repayment.
What is the frequency of loan recovery?
Loan recovery begins after one year from the date of disbursement and follows a monthly installment plan.