Annapurna Scheme

As the name suggests, this scheme is specifically for the hidden cooks inner women. Even a interest as great as cooking can now make you an entrepreneur with the Annapurna Scheme. To begin a catering unit, ladies can avail mortgage as much as Rs 50,000 to buy kitchen gadget such as, utensils and water filters. Collateral withinside the shape of property and and A guarantor is needed to avail this scheme and the mortgage need to be repaid in the span of three years. Women who avail this mortgage additionally get a grace duration of 1 month earlier than the compensation procedure starts. Interest fees below this scheme range as per marketplace charges and property can be taken as collateral through the involved bank.

The Annapurna Scheme had been announced by the Finance Minister in his Budget Speech for the year 1999-2000 to provide food security to those indigent senior citizens who were not covered under the targeted Public Distribution System (PDS) and who had no income of their own. Annapurna is a social sector scheme and forms part of the National Social Assistance Programme (NSAP) which came into effect from 15th August, 1995.

Under the Annapurna Scheme, the government provides loan up to Rs. 50,000 to women entrepreneurs.

When seeking out startup business loan for women in India, this is one of the best schemes for women in the agricultural sector.

At present this loan is offered by The State Bank of Mysore and Bharatiya Mahila Bank.

The biggest advantage of this loan is that the women don’t have to pay EMI for the first month once the loan is approved.

The drawback of Annapurna Scheme is that maximum amount you can avail is Rs. 50,000.

The borrower has to repay the amount in EMIs for 36 months with the interest rate that is determined on the market rate.

You also need a guarantor along with the assets of the business being pledged as collateral security.The Annapurna Scheme had been declared by the Finance Minister in his Budget Speech for the year 1999-2000 to give food security to those impoverished senior residents who were not covered under the focus on Public Distribution System (PDS) and who had no pay for their own. Annapurna is a social area scheme and structures a piece of the National Social Assistance Program (NSAP) which became effective from fifteenth August 1995.

Under the Annapurna Scheme, the public authority gives credit up to Rs. 50,000 to ladies entrepreneurs.

When searching out startup business loan for ladies in India, this is perhaps the best scheme for women in the agricultural area.

At present this loan is offered by The State Bank of Mysore and Bharatiya Mahila Bank.

The biggest advantage of this loan is that the women don’t need to pay EMI for the first month once the loan is endorsed.

The disadvantage of Annapurna Scheme is that the maximum amount you can avail is Rs. 50,000.

The borrower needs to compensate the sum in EMIs for three years with the loan fee that is resolved available rate.

You additionally need a guarantor alongside the resources of the business being vowed as insurance security.