SMILE Scheme – Calls for Applications from Women Entrepreneurs

The Kerala State Women Development Corporation (KSWDC) has introduced a self-employment loan scheme called ‘SMILE’ to provide support to families who have lost their primary breadwinners to the Covid-19 pandemic. This initiative, implemented in collaboration with the National Backward Classes Finance and Development Corporation and the National Scheduled Castes Finance and Development Corporation, aims to empower women dependents affected by the demise of their family members due to the deadly disease.

Applications are now open for the self-employment loan scheme, which is expected to benefit a significant number of women, according to an official statement. Eligibility for the loan is limited to women dependents aged between 18 and 60 years, whose breadwinners passed away due to Covid-19.

The scheme offers a maximum loan amount of ₹5 lakh at an interest rate of six percent. Additionally, a subsidy of up to ₹1 lakh can be provided. To be eligible for the loan, applicants must be permanent residents of Kerala, with an annual income not exceeding ₹3 lakh.

Interested individuals are encouraged to register before the deadline of July 15, as stated in the official announcement. By implementing this self-employment loan scheme, the KSWDC aims to provide financial assistance and empower women who have been impacted by the loss of their loved ones to the pandemic.

For More Details And Application Form : << Click Here >>

1. Loan schemes

  1. Self Employed Loan Scheme
  2. Education Loan Scheme
  3. Small loan scheme

2. Eligibility Criteria

  • Should belong to at least one of the Backward Communities (OBC) recognized by Sarkadar
  • The annual income limit is Rs.98,000/- in rural areas and Rs.1,20,000/- in urban areas.
  • Age limit should be between 18 to 55 years for self employment loans and between 18 to 32 years for education loans.
3. Self Employment Loan Scheme

-> Maximum Loan Amount : Upto Rs.10 Lakhs
-> Interest Rate : Upto Rs.5 Lakhs 6% (Annual Interest)
-> Upto Rs.5 to 10 Lakhs 8% (Annual Interest)
-> Repayment Period : 60 Months Instalments Penalty
-> Interest : 6%
-> Surety : Property Surety/ Personal surety

4. Education Loan Scheme

a. For studying in India

  • Maximum Loan Amount: Up to Rs.10 Lakhs (2.5 Lakhs per annum)
  • Interest Rate: 3.5% Annual Interest
  • Penal Interest: 6% Annual Interest
  • Repayment Term:
  • Surety: Property Surety/Personal Surety

b. To study abroad

  • Maximum Loan Amount: Up to Rs.20 Lakhs (Rs. 4 Lakhs per annum)
  • Interest Rate: 3.5% Annual Interest
  • Penalty Interest: 6% Annual Interest
  • Repayment Period:
  • Surety: Property Surety/Personal Surety

5. Small Loan Scheme

Maximum Loan Amount : Upto Rs.10,00,000/-
Maximum Member Limit : 20
Maximum Loan Amount Per Member : Upto Rs.50,000/-
Interest Rate : 4%
Penal Interest Rate : 6%
Repayment Period : 48 Months Instalments

 🚨 🚨 Don’t Forget Register Before the Deadline of July 15  🚨 🚨

For More Details And Application Form : << Click Here >>

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