Microcredit Finance Scheme- Self Help Groups (DAADC)

Description
The "Microcredit Finance Scheme- Self Help Groups" is implemented by the Dr. Ambedkar Antyodaya Development Corporation DAADC under the Social Justice and Empowerment Department, Government of Gujarat. It aims to promote self-employment among Scheduled Caste SC individuals and Antyodaya Self-Help Groups by providing microloans for starting small-scale businesses. Under this scheme, unemployed individuals from SC communities receive financial assistance to become self-reliant through entrepreneurship.

Exclusions
• <br>

Benefits
• Loan Amount: Up to ₹50,000/- (maximum ₹5,00,000/-)
• Interest Rate: 6% annually
• Loan Tenure: 36 months (3 years)
• State Government Share: 95% (₹47,500/-)
• Beneficiary Share: 5% (₹2,500/-)
• Guarantor: Not required
• Possible Installment amount : ₹1,445/- per month.

Eligibility Criteria
1. The applicant must belong to a Scheduled Caste (SC) community.
2. The applicant must be part of an Antyodaya (AAY) family.
3. The applicant’s annual family income should not exceed ₹3,00,000/-.
4. The applicant must be a resident of Gujarat.
5. The applicant should be a self-help group of unemployed persons.
6. The applicant must be a member of a registered self-help group (SHG) or apply individually with valid business intent.
7. <br>

Application Process
Step 1: Step 1: Visit the official website of the Dr. Ambedkar Antyodaya Vikas Nigam (SC).
Online
Step 1: Visit the official website of the Dr. Ambedkar Antyodaya Vikas Nigam (SC).

Step 2: Step 2: On the top menu bar, click on "Apply Now".
Online
Step 2: On the top menu bar, click on "Apply Now".

Step 3: Step 3: Click on the loan scheme name.
Online
Step 3: Click on the loan scheme name.

Step 4: Step 4: Select the loan category and fill in the loan amount.
Online
Step 4: Select the loan category and fill in the loan amount.

Step 5: Step 5: Fill out the Application Form, enter the following details:
Online
Personal Information: Name, gender, date of birth, caste, etc.
Address Information: Permanent and correspondence address
Income Details: Monthly family income and source
Loan Requirement: Amount needed, proposed use (e.g., business, self-employment)
Bank Account Details: For loan disbursement

Step 6: Step 6: Upload scanned copies of the Caste certificate, Income certificate, Aadhaar card, Passport-size photo, Bank passbook (first page), and Residence proof.
Online
Step 6: Upload scanned copies of the Caste certificate, Income certificate, Aadhaar card, Passport-size photo, Bank passbook (first page), and Residence proof.

Step 7: Step 7: Double-check all details. Click on “Preview” to verify. If all details are correct, click “Submit”.
Online
Step 7: Double-check all details. Click on “Preview” to verify. If all details are correct, click “Submit”.

Step 8: Step 8: Applicant will receive an Application ID/Reference Number. Save or print the acknowledgement for future tracking.
Online
Step 8: Applicant will receive an Application ID/Reference Number. Save or print the acknowledgement for future tracking.

Required Documents
• Aadhaar Card
• Bank Details Copy of Hier
• Business Address Proof
• Identity proof of Applicant
• Passport Size Photos
• School Leaving
• Age Proof
• Birth Certificate
• Caste Certificate
• Income Certificate
• Ration Card

Frequently Asked Questions
Q: What is the maximum loan amount I can get?
A: Up to ₹50,000 for individuals; in some cases, up to ₹5,00,000.
<br>

Q: Do I need a guarantor to apply?
A: No guarantor is required for this scheme.
<br>

Q: What is the interest rate on the loan?
A: A fixed interest rate of 4% per annum.
<br>

Q: What documents are required to apply?
A: Aadhaar card, caste certificate, bank details, income certificate, etc.
<br>

Q: How do I apply for the scheme?
A: Apply online through https://daadconline.gujarat.gov.in.
<br>

<br>

<br>

<br>

<br>

Q: Do I need to pay any fees to apply?
A: No, the application is completely free.
<br>

Q: Can I use the loan for personal purposes?
A: No, it must be used for setting up a business.
<br>

Q: Can residents of other states apply?
A: No, only permanent residents of Gujarat are eligible.
<br>