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Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM)
Applicable to:
Individuals/Groups at urban locations
Self-Help Groups (SHGs)
Urban street vendors/hawkers.
Purpose:
The Scheme supports urban individuals/groups to access easy credit from banks and to avail Interest Subsidy Loans for setting up of individual/group enterprises, to earn their livelihood.
Condition:
Age: 18 years or above
Educational qualification: No minimum educational qualification required.
Eligibility criteria for SHGs to avail Loans:
Minimum 3 members. 70% group members should be from urban poor families
All members of the group enterprise should be 18 years or above
Maximum Loan of Rs 2 lakh per member or Rs 10 lakh per group, whichever is lower.
Interest rate: Loan at subsidised rate of 7% (with the condition of timely repayment).
Loan limit: Maximum project cost of Rs 2,00,000 per unit for individual micro-enterprises.
Repayment tenure:
Moratorium period: Up to 6 months
5 to 7 years after the moratorium period
How to apply:
Applicant must visit Urban Local Bodies (ULBs)/local Municipality to apply for Loans under the NULM Scheme.
