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6% Interest Subsidy on Loans taken for Vehicle Purchase through Banks

6ISLTVPB

Revised Official listing text, not yet reviewedHow entries are compiled

Program brief

Form of supportCash, paid into the bank account
Meant forST
LevelState, Gujarat
FieldBanking,Financial Services and Insurance
How to applyOffline
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Contents of this entry
  1. Overview
  2. Benefits
  3. Eligibility
  4. Documents
  5. Application steps
  6. Questions and answers

Overview

6% Interest Subsidy on Loans taken for Vehicle Purchase through Banks

The scheme aims to support Scheduled Tribe (ST) individuals in purchasing vehicles for self-employment purposes. Under this scheme, tribal beneficiaries availing bank loans for vehicle purchase with interest subsidy. This financial support helps reduce the repayment burden on tribal entrepreneurs.

The "6% Interest Subsidy on Loans taken for Vehicle Purchase through Banks" scheme was launched by the Tribal Development Department, Government of Gujarat. It aims to support Scheduled Tribe (ST) individuals in purchasing vehicles for self-employment purposes. Under this scheme, tribal beneficiaries availing bank loans for vehicle purchase with interest subsidy. This financial support helps reduce the repayment burden on tribal entrepreneurs while encouraging mobility-based self-employment opportunities.

Further facts from the listing

Scheme forIndividual
DBT (direct bank transfer)No

Benefits

  • 6% interest subsidy on bank loans for vehicle purchase.
  • Loan eligibility range: Rs. 5,00,000 to Rs. 20,00,000.

Eligibility

Category
Scheduled Tribe (ST)
State
Gujarat
  1. The applicant must be a resident of tribal areas in Gujarat.
  2. The applicant must belong to the Scheduled Tribe (ST) category.
  3. The applicant must have taken a bank loan specifically for vehicle purchase.

Who cannot apply

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Documents

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Application steps

Offline

Step 1: The interested applicant should visit (during office hours) at the office of the Project Administrator, Gujarat Tribal Development Corporation, Gandhinagar, and all tribal district offices and request a hard copy of the prescribed format of the application form from the staff exclusively entrusted to issue and collect filled-in applications.

Step 2: In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attestted, if required).

Step 3: Submit the duly filled and signed application form along with the documents to the office of the Tribal District Sponsorship Administrator.

Step 4: Request a receipt or acknowledgment from the office of the Tribal District Sponsorship Administrator. to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).

Questions and answers

Who can apply for this scheme?

Only Scheduled Tribe individuals from Gujarat who have taken a vehicle loan for self-employment.

What is the range of eligible loan amounts?

Loans between Rs. 5,00,000 and Rs. 20,00,000.

What is the subsidy provided?

A 6% interest subsidy on the loan.

Is there any income limit to apply?

No, there is no income limit.

Can private vehicles be purchased under this scheme?

No, the vehicle must be used for self-employment or commercial purposes.

Where can the application form be obtained?

The application form obtains From the Project Administrator’s office in Gandhinagar or tribal district offices.

Is the application form available online?

No, it is only available offline.

Is there any cost to get the form?

No, the form is free of cost.

Where should applications be submitted?

The application submitted at the office of the Tribal District Sponsorship Administrator.

What key documents are required?

Aadhaar card, caste certificate, loan approval letter, vehicle purchase bill, RC book copy, and passport photos.

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