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Government Loan Schemes

Special loan schemes with subsidies and lower interest rates

Why Government Schemes?

Government-backed schemes offer lower interest rates, interest subsidies, collateral-free options, and easier eligibility compared to regular bank loans.

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Showing 14 schemes

Mudra Loan (PMMY)

Business

Micro Units Development & Refinance Agency loan for small businesses

Categories

Shishu (up to ₹50,000)Kishore (₹50,000 - ₹5 Lakh)Tarun (₹5 Lakh - ₹10 Lakh)

Key Benefits

  • No collateral required
  • Low interest rates (8-12%)
  • Available at all banks
  • Quick processing

Eligibility

Any Indian citizen with business plan for non-farm income generating activity

PM Awas Yojana (PMAY)

Housing

Home loan subsidy for first-time home buyers in India

Categories

EWS (up to ₹3 Lakh income)LIG (₹3-6 Lakh income)MIG-I (₹6-12 Lakh)MIG-II (₹12-18 Lakh)

Key Benefits

  • Interest subsidy up to ₹2.67 Lakh
  • Subsidy credited upfront
  • Available across all banks
  • Extended till Dec 2024

Eligibility

First-time home buyer, no house in family member's name

Vidya Lakshmi Education Loan

Education

Single portal to apply for education loans from multiple banks

Categories

Studies in IndiaStudies AbroadTechnical/Professional Courses

Key Benefits

  • Compare schemes from 40+ banks
  • Single application for multiple banks
  • Interest subsidy for EWS students
  • No collateral up to ₹7.5 Lakh

Eligibility

Indian students with admission to recognized institutions

Stand-Up India

Women & SC/ST

Bank loans for SC/ST and women entrepreneurs

Categories

Greenfield projectsManufacturingServicesTrading

Key Benefits

  • Loan ₹10 Lakh to ₹1 Crore
  • Covers 75% of project cost
  • Repayment up to 7 years
  • CGTMSE coverage available

Eligibility

SC/ST or Women entrepreneur, first-time borrower in enterprise

CGTMSE Scheme

MSME

Credit Guarantee for Micro & Small Enterprises without collateral

Categories

Manufacturing MSEsService MSEsRetail Trade

Key Benefits

  • Guarantee up to ₹5 Crore
  • No collateral/third party guarantee
  • 85% coverage for micro units
  • Lower interest rates

Eligibility

New and existing MSEs engaged in manufacturing/service

SBI Student Loan Scheme

Education

Comprehensive education loan for studies in India and abroad

Categories

India Studies (up to ₹10 Lakh)Abroad (up to ₹1.5 Cr)Skill Development

Key Benefits

  • 100% finance for studies
  • Moratorium during study + 12 months
  • No processing fee
  • Tax benefit under Sec 80E

Eligibility

Indian student with secured admission, Indian co-applicant required

PM SVANidhi Scheme

Street Vendors

Micro-credit scheme for street vendors affected by COVID-19

Categories

Initial Loan (₹10,000)2nd Loan (₹20,000)3rd Loan (₹50,000)

Key Benefits

  • Collateral-free loans
  • 7% interest subsidy on timely repayment
  • Digital transaction cashback
  • No penalty on early repayment

Eligibility

Street vendors engaged in vending as on 24th March 2020

Kisan Credit Card (KCC)

Agriculture

Credit facility for farmers to meet agricultural expenses

Categories

Crop ProductionAsset MaintenanceAllied ActivitiesConsumption Needs

Key Benefits

  • Interest subvention of 2%
  • Additional 3% on prompt repayment
  • Effective interest rate 4%
  • Insurance coverage included

Eligibility

Farmers - individual/joint borrowers who are owner cultivators

PM Vishwakarma Scheme

Artisans

Scheme for traditional artisans and craftspeople

Categories

Skill TrainingToolkit IncentiveCredit SupportMarketing Support

Key Benefits

  • First loan up to ₹1 Lakh at 5%
  • Second loan up to ₹2 Lakh
  • Stipend during training
  • Digital transaction incentive

Eligibility

Artisans and craftspeople engaged in 18 traditional trades

Startup India Seed Fund

Startups

Financial assistance to startups for proof of concept and prototype

Categories

Seed Support (up to ₹20 Lakh)Prototype (up to ₹50 Lakh)

Key Benefits

  • Grant-based funding
  • Mentorship support
  • No equity dilution for seed
  • Fast-track processing

Eligibility

DPIIT recognized startups incorporated less than 2 years ago

Mahila Udyam Nidhi Scheme

Women Entrepreneurs

Small Industries Development Bank of India scheme for women entrepreneurs

Categories

ManufacturingServicesSmall Business Units

Key Benefits

  • Loan up to ₹10 Lakh
  • Concessional interest rates
  • Relaxed collateral norms
  • Priority sector lending

Eligibility

Women entrepreneurs with at least 51% ownership in business

Credit Linked Capital Subsidy (CLCSS)

MSME

Technology upgradation scheme for MSMEs

Categories

ManufacturingService EnterprisesTechnology Upgradation

Key Benefits

  • 15% capital subsidy (max ₹15 Lakh)
  • On approved machinery/equipment
  • One-time subsidy
  • Promotes modernization

Eligibility

Existing and new MSMEs in manufacturing/service sector

NSKFDC Loan Scheme

Social Welfare

National Safai Karamcharis Finance & Development Corporation scheme

Categories

Sanitation WorkSkill DevelopmentSelf Employment

Key Benefits

  • Loan up to ₹15 Lakh
  • Concessional interest (5-6%)
  • Subsidy on training
  • No collateral for loans up to ₹5 Lakh

Eligibility

Safai Karamcharis, manual scavengers and their dependents

NHFDC Loan Schemes

Persons with Disabilities

National Handicapped Finance Development Corporation for persons with disabilities

Categories

Self EmploymentEducationSkill DevelopmentTechnology

Key Benefits

  • Loan up to ₹25 Lakh
  • Concessional interest (4-6%)
  • No collateral up to ₹10 Lakh
  • Flexible repayment terms

Eligibility

Persons with disabilities (40% or more) with family income below ₹3 Lakh/year

Scheme details are indicative and subject to change. Please verify with official sources before applying.