AI SummaryVanchit Ikai Samooh aur Vargon ki Aarthik Sahayata Yojana (VISVAS) gives 5% per year interest subsidy to Scheduled Caste (SC), Other Backward Class (OBC), and Safai Karamchari individuals on income-generating loans up to ₹5 lakh. It is run by the Ministry of Social Justice and Empowerment, Government of India.
SC and OBC individuals with annual family income up to ₹3 lakh can get this benefit. Safai Karamchari individuals have no income limit. The loan must be taken from Public Sector Banks, Regional Rural Banks, Private Sector Banks, or Small Finance Banks for any income-generating activity.
VISVAS Yojana for Individuals - Scheme Overview
VISVAS Yojana helps SC, OBC, and Safai Karamchari individuals get loans at a lower interest rate. The government gives an interest subsidy (also called interest subvention) of up to 5% per year on eligible loans. This lowers the actual cost of borrowing for poor families who want to start or grow an income-generating activity.
The subsidy applies only to standard loan accounts. If the loan account is running well and payments are on time, the lending institution credits the interest subsidy to the borrower. This model gives a quick interest benefit to eligible borrowers.
Individual borrowers from these categories can get the subsidy on loans up to ₹5 lakh. For comparison, Self Help Groups (SHGs) with at least 70% members from these categories can get the same subsidy on loans up to ₹10 lakh.
The scheme covers loans taken for any income-generating activity. This includes small businesses, shops, animal husbandry, and other self-employment work. Loans from Public Sector Banks, Regional Rural Banks, Private Sector Banks, Small Finance Banks, and other similar financial institutions are eligible.
VISVAS Yojana Eligibility for Individuals
Check who can apply for the interest subsidy before taking a loan.
- Scheduled Caste (SC) individuals - Annual family income must be up to ₹3 lakh.
- Other Backward Class (OBC) individuals - Annual family income must be up to ₹3 lakh.
- Safai Karamchari individuals - No income limit. This includes identified manual scavengers, waste pickers, and their dependents.
VISVAS Yojana Benefits
The main benefit is a lower interest cost on loans.
- Interest subsidy of up to 5% per year on eligible loans.
- Individual loan cap of ₹5 lakh for the subsidy benefit.
- Direct interest benefit credited to the borrower's standard loan account.
VISVAS Yojana Highlights
| Detail | Information |
|---|---|
| Scheme Name | Vanchit Ikai Samooh aur Vargon ki Aarthik Sahayata Yojana (VISVAS) for Individuals |
| Ministry | Ministry of Social Justice and Empowerment |
| Level | Central Government |
| Target Group | SC, OBC, and Safai Karamchari individuals |
| Benefit | Interest subsidy up to 5% per year |
| Loan Cap for Individuals | ₹5 lakh |
| Income Limit | ₹3 lakh for SC and OBC; no limit for Safai Karamchari |
| Lending Institutions | PSBs, RRBs, Private Sector Banks, Small Finance Banks |
| Official Portal | visvas.dosje.gov.in |
Required Documents
Submit these documents to the lending institution when applying for the loan.
- Caste certificate (SC or OBC) or Safai Karamchari certificate as applicable.
- Income certificate for SC and OBC individuals.
- Identity proof such as Aadhaar card and bank account details.
How to Get VISVAS Interest Subsidy
STEP 1 - Approach a Public Sector Bank, Regional Rural Bank, Private Sector Bank, or Small Finance Bank and apply for an income-generating loan.
STEP 2 - Submit the required documents, including caste or Safai Karamchari certificate and income proof for SC and OBC applicants.
STEP 3 - The bank checks eligibility under VISVAS Yojana and sanctions the loan for the income-generating activity.
STEP 4 - Once the loan account is standard, the bank claims the interest subsidy on the VISVAS portal and credits the 5% benefit to the borrower's account.
References
Official VISVAS portal is available at visvas.dosje.gov.in.
National Safai Karamcharis Finance and Development Corporation (NSFDC) shares scheme details at nsfdc.nic.in/visvas.
FAQ's
Who can apply for VISVAS Yojana for individuals?
SC and OBC individuals with annual family income up to ₹3 lakh, and Safai Karamchari individuals with no income limit, can get the interest subsidy.
What is the loan limit for individuals under VISVAS Yojana?
Individuals can get the 5% interest subsidy on loans up to ₹5 lakh.
What is the interest subsidy amount?
The scheme gives an interest subsidy of up to 5% per year on eligible loans.
Is there an income limit for Safai Karamchari individuals?
No. Safai Karamchari individuals, including identified manual scavengers, waste pickers, and their dependents, have no income limit.
Which banks offer VISVAS Yojana loans?
Public Sector Banks, Regional Rural Banks, Private Sector Banks, Small Finance Banks, and other similar financial institutions.