NEDFi Atmanirbhar Hastshilpkar Scheme offers term loans to grassroot artisans of the North East region for income generating activities. North Eastern Development Finance Corporation Ltd. (NEDFi) launched this scheme on 9 December 2021 to help petty artisans of the region with easy credit support.
Under this scheme, artisans get a collateral free loan at a subsidized interest rate of 6% per year, which is repayable in 24 months. The loan can be used for setting up, expansion, modernization, working capital and other activities related to the artisan sector.
What is Atmanirbhar Hastshilpkar Scheme
Atmanirbhar Hastshilpkar Scheme is an in-house loan product of NEDFi, a leading financial institution of the North East. It is not a government sponsored scheme, but a special loan made for the artisans of the region. The scheme gives support in the form of a short term loan for income generating activities.
During the launch ceremony on 9 December 2021, a total of 17 artisans were given credit support of Rs. 1 lakh each. The credit facility is collateral free and carries a subsidized interest rate of 6% per year. For regular repayment, an incentive of 1% on the interest rate is given, which is refunded to the artisans on successful repayment of loans.
How to Apply for Atmanirbhar Hastshilpkar Scheme
Artisans can now apply for the scheme online through the official website of NEDFi. The online application form is available on the NEDFi website, and the same process can also be done at the registered office in Guwahati or any branch office.
STEP 1 - Go to the official website of NEDFi at www.nedfi.com and open the loan for artisans page.
STEP 2 - Click on the Apply Now link to open the online loan application form.
STEP 3 - Fill in the required details like the applicant name, business type, loan amount, address, state, district, phone number and a short note about the business.
STEP 4 - Generate the OTP, enter it and submit the form. NEDFi will contact the applicant for the next steps.
Key Features of Atmanirbhar Hastshilpkar Scheme
The scheme comes with a simple and easy process. The loan amount is small, the interest rate is low, and no detailed project report is needed. Here are the main points of the scheme.
| Detail | Information |
|---|---|
| Scheme Name | Atmanirbhar Hastshilpkar Scheme |
| Launched By | NEDFi |
| Beneficiaries | Artisans of North East region |
| Interest Rate | 6% per year |
| Maximum Loan Amount | Up to Rs. 1 lakh |
| Repayment Period | Up to 24 months |
| Application Mode | Online and offline |
| Official Website | www.nedfi.com |
Eligibility Criteria for Atmanirbhar Hastshilpkar Scheme
Only those artisans who meet the following conditions will be able to apply for the scheme.
- Registered or unregistered artisan or individual
- Having a valid qualification or practicing any art form
- No existing loan from any other bank or financial institution
- Bank account
- Aadhaar card (optional)
Documents Required
Applicants need to keep a few documents ready while applying for the loan.
- Photo identity and address proof as per RBI KYC guidelines
- Bank account details
- Aadhaar card (optional)
FAQ's
What is the interest rate on the loan?
The interest rate is 6% per year, and the loan is repayable in 24 months.
What is the maximum loan amount?
The maximum loan amount under the scheme is up to Rs. 1 lakh.
Is the loan collateral free?
Yes, the credit facility is collateral free and covered under CGTMSE.
Where can artisans apply?
Artisans can apply online through the NEDFi website or at the registered office in Guwahati and any branch office.
For more details, visit the official website of North Eastern Development Finance Corporation Ltd at www.nedfi.com
Helpline number: 0361-222-2200