How to get NRI personal loans easily
The NORKA (Non-Resident Keralites Affairs) department has started a new project to get loans for NRI’s quickly with a subsidy. You will get the registration application through the link for applying for the loan online.
You can register to the scheme through the link with the required documents. The minimum qualification for applying to this loan is, the applicant should have two-year work experience abroad. And the applicant should submit the experience certificate. The maximum loan amount provided by the government is 20 Lakh with 15 % subsidy. 3% of interest rate to be paid in the period of repayment. The Government of Kerala will pay the subsidy amount to the bank. The subsidy will provide if the loan holder doesn’t have any loan dues. The government also provides loans to start up new ventures or any kind of business such as;
- Agriculture and industry such as farming, fish farming, dairy products, food processing, integrated farming, vegetable crops, flowering, sheep farming etc
- Business like buying and selling products, shops etc..
- Services like repair shops, restaurants, homestay, restaurants, hotels etc.
- Production of small and medium enterprises such as bakery, furniture and wood industry, saloon, computer equipment etc.
Currently, the SBT, south Indian bank and union banks provide loans. The issue of the bank will change as per the renewal of MoU with other banks. The highlight of this loan is 15 % of the subsidy provided by the Kerala government. If the loan holder will make any dues, the holder doesn’t receive the subsidy and also they charge due interests. The loan amount will be provided to the bank’s term and conditions of the bank and NORKA. The memorandum has been signed with the support of Kerala State Backwards Communities Development Corporation and Kerala State Privy Welfare Development. This is the best loan schemes currently available for Non-Resident Keralites.