Kerala Financial Corporation Loan up to 50 Lakhs. 7% Interest Rate

There are many who want to start a new business. Loan up to Rs. 50 Lakhs without collateral for expatriates and new entrepreneurs who have returned home after losing their jobs. The Kerala Financial Corporation provides this loan to the needy at an even lower interest rate. KFC plans to provide a loan of Rs 300 crore to 1000 entrepreneurs at an interest rate of 7%.

Loans up to 90% of the plan are available. Of this, KFC's approved interest rate is 10%. Of this, 3% will be subsidized by the government. For those who have returned from working abroad for at least 2 years, NORKA will offer a 3% interest rebate. In that case, the interest rate will be only 4%. In addition, a subsidy of Rs 3 Lakh will be given.The interest rate on the special scheme for expatriates will be 3.5%.

Priority is given to start-up entrepreneurs. The biggest feature is that the loan is non-performing, It uses insurance cover provided by the Central Government. The lending capital was raised from Rs 250 crore raised through bonds.