SCCY/Self Employment Scheme

Swarojgar Credit Card Yojona Scheme (SCCY) was introduced by NABARD in September 2003 for ensuring regular and hassle-free credit to the people of limited means.

SCCY Scheme aims at providing adequate and timely credit both Block and Working Capital to small artisans, handloom weavers, service sector, Fishermen, self-employed persons, Rickshaw /Auto -Rickshaw pullers and other micro-entrepreneurs.

Quantum of Limit:

Upto Rs. 25,000/- per borrower as composite loan. However, this is indicative. The Bank may consider higher limit upto Rs.1.00 lakh based on the merit of the case. The total limit to be allowed by the bank should have relationship with the projected net earnings and the repayment capacity of the borrower.

Validity:

The SCCY Scheme is normally valid for five years subject to satisfactory operation of the account and renewable on a yearly basis after proper assessment of the performance.

Security / Margin / Rate of Interest:

25% of the credit limit to be sanctioned shall have to be kept as Collateral Security and Rs. 200/- per month per borrower of loan limit of Rs. 25,000/- to be placed in the Recurring Deposit Account as compulsory thrift. Higher amount of Recurring Deposit may be considered if the loan limit is more than Rs. 50,000/- and above.