Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM)

Applicable to:

• Individuals or Groups at urban locations

   

• Self-Help Groups (SHGs)

   

• Urban street vendors or hawkers.

   

Purpose:

The Scheme supports urban individuals or groups to access easy credit from banks and to avail Interest Subsidy Loans for setting up of individual or 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 ₹2 lakh per member or ₹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 ₹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) or local Municipality to apply for loans under the NULM Scheme.

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