Virasat Loan Scheme of NMDFC

Virasat Loan Scheme of NMDFC provides concessional credit of up to ₹10.00 lakh to minority artisans for meeting working capital and fixed capital needs like purchasing tools, machinery, and raw materials. National Minorities Development and Finance Corporation (NMDFC) continues to accept applications for this scheme in 2026 through the MILAN online loan portal and through State Channelizing Agencies.

Virasat is a part of the Term Loan support of NMDFC and is made for craftspersons from notified minority communities. Simple interest of 5% per annum is charged under Credit Line-1 and 6% per annum for male artisans under Credit Line-2. Female artisans get a 1% concession on both credit lines, so they pay 4% and 5% respectively.

Virasat Loan Scheme of NMDFC - Introduction

NMDFC runs Virasat as a credit scheme for craftspersons who need money for their trade. The loan covers working capital like raw materials and fixed capital like equipment, tools, and machinery. The scheme is open to artisans from the six notified minority communities, namely Muslims, Christians, Sikhs, Buddhists, Parsis, and Jains, with preference given to women and occupational groups.

The maximum loan amount is ₹10.00 lakh under both credit lines. The income limit decides which credit line you can use. Families with annual income up to ₹3.00 lakh can apply under Credit Line-1, while families with income up to ₹8.00 lakh can apply under Credit Line-2. The loan comes with a six-month moratorium period and a repayment period of five years.

Key Information

Benefits

Virasat Loan Scheme makes credit affordable for artisans from minority communities. The main benefits are:

• Low-interest loan of up to ₹10.00 lakh for working capital and fixed capital needs.
• Simple interest of 5% per annum under Credit Line-1 and 6% per annum for male artisans under Credit Line-2.
• Extra 1% interest concession for female artisans on both credit lines.
• Six-month moratorium period before repayment starts.
• Repayment spread over five years in easy installments.

Eligibility

To apply for this loan, you should meet these conditions:

1. You must be an Indian citizen belonging to a notified minority community (Muslim, Christian, Sikh, Buddhist, Parsi, or Jain).
2. Your annual family income should not exceed ₹3.00 lakh under Credit Line-1 and ₹8.00 lakh under Credit Line-2.
3. You should be an artisan or craftsperson actively engaged in a traditional trade such as pottery, embroidery, leatherwork, metalwork, or handloom.
4. You must provide proof of your skills or professional certification.
5. You should use the loan strictly for purchasing raw materials, machinery, or tools.
6. You must have an Aadhaar-linked bank account and a valid minority certificate.

Example: If Ravi is a traditional potter from a minority community with a family income of ₹2.50 lakh, he can apply under Credit Line-1 to upgrade his manual wheel to an electric one.

Exclusions

You are excluded from this scheme if you belong to a non-notified community or if your annual family income exceeds ₹3.00 lakh under Credit Line-1 or ₹8.00 lakh under Credit Line-2.

Application Process

NMDFC has moved loan applications to the MILAN online portal, so artisans can now register and apply online. Offline applications through State Channelizing Agencies are also accepted. Follow these steps to apply for Virasat Loan Scheme in 2026:

STEP 1 - Visit the official MILAN portal of NMDFC at MILAN portal registration page and click on the register option to create a new account.

STEP 2 - Fill in your personal details, contact information, and bank details in the registration form, then create a user ID and password.

STEP 3 - Log in to the portal and select the Virasat scheme from the list of loan schemes.

STEP 4 - Fill the loan application form with family income details, purpose of the loan, and the required loan amount.

STEP 5 - Upload self-attested copies of the required documents like minority certificate, income certificate, Aadhaar, and artisan proof.

STEP 6 - Submit the application and keep the reference number for tracking. The lending partner or State Channelizing Agency will verify the details and process the loan.

For offline applications, contact the State Channelizing Agency nominated by your state government or partner banks like Canara Bank. You can check the scheme details on the Virasat scheme page on NMDFC website and the Virasat scheme page on MILAN portal. For help, call the NMDFC helpline at 22441442 / 44 / 52 / 53 / 55.

Documents

Keep the following documents ready before applying for the Virasat Loan Scheme:

• Completed application form for individual artisans.
• Recent passport-sized photograph.
• Valid proof of minority status.
• Income certificate issued by a competent authority.
• Proof of address (Aadhaar card, voter ID, or ration card).
• Proof of identity (Aadhaar or PAN card).
• Artisan ID card or a certificate from your local panchayat or craft society.
• A clear project proposal or list of required items.
• Price quotations from your suppliers.
• Aadhaar-linked bank passbook.
• No Dues Certificate if you have received previous financial support.
• Self-declaration stating you have not taken similar artisan loans elsewhere.

Related Schemes

NMDFC also runs other loan schemes for minority communities. You can check the NMDFC Term Loan Scheme and the Micro Finance Scheme of NMDFC for more options. The full list is available on the Minority Welfare Schemes List page.

News

References

Virasat Scheme - NMDFC Official Website

Virasat Scheme - MILAN Portal

NMDFC Official Website

NMDFC Lending Policy

FAQ's

What is the Virasat Loan Scheme of NMDFC, and who can apply for it?

This scheme supports artisans from minority communities by providing affordable credit for working capital such as raw materials and fixed assets like machinery. Artisans from the six notified minority communities can apply.

What is the maximum loan amount and how is the interest calculated?

You can receive up to ₹10.00 lakh. Interest rates are set at 5% for men and 4% for women under Credit Line-1, and 6% for men and 5% for women under Credit Line-2.

What is the repayment timeline?

You will get a six-month moratorium period, after which you should repay the loan over five years.

How to apply for the Virasat Loan Scheme in 2026?

You can register and apply online through the MILAN portal at milannmdfc.org or contact the State Channelizing Agency nominated by your state government.

What proof of skill do I need to submit?

You should submit an Artisan ID Card from the Development Commissioner (Handicrafts/Handlooms) or a formal certificate from your local craft society or panchayat.