<\/span><\/h2>\n\n\n\nMahila Samridhi Yojana Scheme<\/strong> is a plan designed to help women entrepreneurs from underprivileged or economically weaker sections of society. Under this strategy, the government offers microfinance (banking service for people or groups who wouldn’t be able to get other financial services) to female entrepreneurs directly or through Self-Help Groups (SHGs are informal groups of people that face similar problems).<\/p>\n\n\n\n <\/figure>\n\n\n\n<\/span>What are the <\/strong>Mahila Samriddhi Yojana <\/strong>Features<\/strong>?<\/strong><\/span><\/h2>\n\n\n\n\nNational Scheduled Castes Finance and Development Corporation (NSFDC) offers Mahila Samriddhi Yojana for setting up businesses that cost up to Rs. 1,40,000\/-.<\/li>\n<\/ul>\n\n\n\n\nMaximum Loan Limit: <\/em>NSFDC offers loans up to 90%<\/strong> of the project cost, with a maximum of Rs.1.25 lakhs.<\/strong><\/li>\n<\/ul>\n\n\n\n\nRate of Interest:<\/em> The NSFDC lends money to Scheduled Caste Agencies(SCAs)\/Channelising Agencies (CAs) at a low-interest rate (2%), then lends this money to women starting businesses (beneficiaries) at a slightly higher rate (6%) to cover their own expenses.<\/li>\n<\/ul>\n\n\n\n\nRepayment Period:<\/em> A three-month gap will be allowed at the start of the business before the loans need to be repaid, which will then be paid in quarterly installments over a maximum of three years.<\/li>\n<\/ul>\n\n\n\nFor example,<\/strong> Rekha, a resident of a small village, has always wanted to turn her passion for knitting into a successful business. She was unable to purchase the additional wool and equipment she required due to financial constraints. This is where the Samriddhi Yojana<\/strong> came in as a game changer for Rekha. Rekha could qualify for a loan because her knitting project was under MSY’s Rs.1,40,000 ceiling and had to make interest payments on 6% rate of interest. <\/p>\n\n\n\n<\/span>What is the eligibility criteria for <\/strong>Mahila Samriddhi Yojana Scheme<\/strong>?<\/strong><\/span><\/h2>\n\n\n\n\nThe applicant must be between 18 and 55 years<\/strong> old.<\/li>\n\n\n\nApplicable to women from economically and socially backward classes<\/strong> as notified by the Central\/State Government.<\/li>\n<\/ul>\n\n\n\n<\/span>What are the <\/strong>Mahila Samriddhi Yojana Scheme benefits<\/strong>?<\/strong><\/span><\/h2>\n\n\n\n\nFinancial assistance for business units costing up to \u20b91,40,000\/- is available.<\/li>\n<\/ul>\n\n\n\n\nThe payback duration is 3.5 years, with quarterly installments starting from the date of each disbursement and including the moratorium period. <\/li>\n<\/ul>\n\n\n\n\nEligible beneficiaries can apply for any loan under the NSFDC scheme after repaying their MSY loans through the relevant State Channelizing Agencies (SCA).<\/li>\n<\/ul>\n\n\n\n