Goa Short Term Loan Scheme
Highlights
- Scheduled Tribe residents of Goa can get a short-term loan of up to Rs. 1 lakh for education, medical, or business purposes.
- The loan carries 2 percent annual interest with a 3-month repayment moratorium.
- Education loans are repaid over 20 months, business and medical loans over 10 months.
Website
Goa State Scheduled Tribes Finance and Development Corporation Ltd. (opens in a new tab)
Customer Care
For help with an application, contact the Corporation office during working hours.
Information Brochure
Summary of the Scheme
| Name of Scheme | Goa Short Term Loan Scheme |
|---|---|
| Beneficiaries | Individuals belonging to the Scheduled Tribe community of Goa |
| Benefit | Short-term loan up to Rs. 1 lakh at 2 percent interest per year for education, medical, or business needs |
| Department / Implementing Agency | Goa State Scheduled Tribes Finance and Development Corporation Ltd. |
| Subscription | Subscribe here to get updates about this scheme |
| Mode of Application | Offline |
Scheme Introduction: A Brief Overview
The Goa Short Term Loan Scheme is run by the Goa State Scheduled Tribes Finance and Development Corporation Ltd. for members of the Scheduled Tribe community living in Goa. It offers a small, low-interest loan that a family can use for an urgent education, medical, or business need without turning to informal lenders.
A borrower can receive up to Rs. 1 lakh at 2 percent interest per year. Repayment does not begin immediately: there is a three-month moratorium first, after which an education loan is repaid over up to 20 months and a business or medical loan over up to 10 months.
Applications are made offline at the Corporation office. A three-member sub-committee reviews each application, and the sanctioned amount is released once a formal loan agreement is signed. Once an earlier loan has been fully repaid, the same borrower may apply again.
Benefits of the Scheme
- Loan up to Rs. 1 lakh at 2 percent annual interest.
- Usable for education, medical, or business needs.
- 3-month moratorium before repayment begins.
- Early full repayment with interest is allowed at any time.
- A borrower may re-apply after fully repaying an earlier loan.
Financial Assistance
| Purpose | Maximum Loan | Interest Rate | Repayment Period |
|---|---|---|---|
| Education | Up to Rs. 1 lakh | 2% per annum | Up to 20 months |
| Business | Up to Rs. 1 lakh | 2% per annum | Up to 10 months |
| Medical | Up to Rs. 1 lakh | 2% per annum | Up to 10 months |
Eligibility Criteria
- Applicant must belong to the Scheduled Tribe community and reside in Goa.
- The loan must be used for education, medical, or business purposes.
- A prior loan under this scheme must be fully repaid before re-applying.
Required Documents
- Scheduled Tribe certificate issued by a competent Goa authority
- Bank passbook copy with the applicant's photograph
- Salary certificate or pay slip of one surety
- Surety affidavit on stamp paper
- Identity proof and photograph of the surety
- Applicant's Aadhaar card copy
- Applicant's affidavit stating the loan amount and purpose
Carry the originals of every document along with one photocopy set when you submit the form.
Steps to Apply
- Collect the application form from the Corporation office.
- Choose the loan purpose: education, medical, or business.
- Complete the form and attach all required documents.
- Submit the form to the Corporation.
- A three-member sub-committee reviews and sanctions the application.
- On sanction, a formal loan agreement is signed.
- The sanctioned amount is released after the agreement is signed.
Conditions to keep in mind
- Repayment begins after the three-month moratorium ends.
- The full outstanding amount together with interest may be repaid early at any time.
- A fresh application is considered only after the earlier loan is cleared in full.
Important Links
Contact Details
Goa State Scheduled Tribes Finance and Development Corporation Ltd.
Panaji, Goa
Contact the Corporation office
Frequently Asked Questions
2 percent per annum.
Up to Rs. 1 lakh.
Education, medical, or business purposes.
After a moratorium of three months from the date the loan is released.
Up to 20 months for an education loan, and up to 10 months for a business or medical loan.
Yes. The full outstanding amount along with interest may be repaid at any time.
Yes, once the earlier loan has been fully repaid.
Offline. Collect the form from the Corporation office, attach the required documents, and submit it there.
Have a question about this scheme?
Join the discussion forum| Caste | Person Type | Scheme Type | Govt |
|---|---|---|---|
| Schedule Tribe | Entrepreneur, Student | Financial Assistance Loan | Goa |
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