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Easy Loan Scheme

Easy Loan Scheme

Easy Loan Scheme for Rural Households with Interest Subsidy has been planned by the central government. But, this time only for the rural households.

The Modi Government has introduced a new easy loan scheme under which small loans to rural households would be provided at a subsidized interest rate of 4% to 7%. Under the new loan scheme, rural households would be able to secure small loans at lower interest rates and without any security deposit.

Under this scheme, a loan of up to ₹1 Lakh would be provided to poor rural households in the coming 3 to 5 years. The government has a simplified process of accessing the loan and is working on the details of the scheme.

There are about 8.5 Crore poor rural households in the country as per the Socio-Economic Cast Census who may require such easy loans to fulfil their everyday needs.

This loan scheme has been proven to be of great help to rural households, who can not afford loans at such high-interest rates or are even not able to access loans at all.