Question

Under the Seed Fund Scheme, how are EMIs structured for loans above Rs. 5 Lakhs?

• A. Repayment in 24 EMIs
• B. Repayment in 36 EMIs
• C. Repayment in 12 EMIs
• D. Repayment in 48 EMIs

Answer 1

Answer:

B. Repayment in 36 EMIs

Benefits of Scheme

• Seed Fund of Rs.15 Lakhs at a subsidised interest rate of 6% per annum.

• Moratorium 12 months

• Repayment in 24 EMIs for loans up to Rs.5 Lakhs and 36 EMIs for loans above Rs.5 Lakhs