Goa Short Term Loan Scheme: Financial Assistance for ST Community Members

The “Short Term Loan Scheme” is offered by the Goa State Scheduled Tribes Finance and Development Corporation Limited under the Department of Tribal Welfare, Government of Goa. This scheme provides financial assistance as a credit facility to individuals from the Scheduled Tribe (ST) community. The loans are designed to meet immediate expenses related to education, medical, or business needs, thereby improving the standard of living and facilitating the integration of beneficiaries into mainstream society.

Benefits

• Loan Amount:
  • Short Term Loan of up to ₹1,00,000.
• Purpose:
  • The loan can be used for urgent financial requirements in the areas of education, business, or medical needs.
• Interest Rate and Repayment:
  • For Education Purposes:
    • Interest rate: 2% per annum.
    • Repayment period: Up to 20 months in a maximum of 20 instalments with a moratorium period of 3 months.
  • For Business and Medical Purposes:
    • Interest rate: 2% per annum.
    • Repayment period: Up to 10 months in a maximum of 10 instalments with a moratorium period of 3 months.
• Penal Interest:
  • 1% penal interest will be charged on any overdue instalment.
• Recovery:
  • The entire loan, along with interest, will be recovered according to the prevailing rules.

Eligibility

• The applicant must be an individual from the Scheduled Tribe (ST) community of Goa.
• The applicant can reapply for a new loan under the scheme provided that any previous loans have been cleared.

Application Process

Offline Process

1. Visit the Office:
   • Go to the Goa State Scheduled Tribes Finance and Development Corporation Ltd at:
     Shram Shakti Bhavan, 5th Floor, Patto, Panaji-Goa, – 403 001.
2. Obtain Application Form:
   • Print the proforma of the application form or request a hard copy from the concerned authority.
3. Fill in the Form:
   • Complete the form by filling in all mandatory fields, affix a signed passport-sized photograph, and attach copies of all required documents (self-attested, if necessary).
4. Submit:
   • Submit the duly filled and signed application form along with the documents to the concerned authority.

Documents Required

• Scheduled Tribe (ST) Certificate issued by the Competent Authority of Goa.
• Bank Passbook.
• Recent Photograph.
• Salary Certificate/Pay Slip of one Surety, along with a surety affidavit on a ₹50 stamp paper, including one photograph and ID proof of the surety.
• Aadhaar Card.
• Affidavit of the applicant on a ₹50 stamp paper regarding the amount of loan required and its purpose (for applicants below 18 years of age, the affidavit should be given by a parent or guardian).

Frequently Asked Questions

• What is the timeframe for the implementation of the scheme by the Goa State Scheduled Tribes Finance and Development Corporation Ltd?
  The scheme provides specific repayment periods depending on the purpose—20 months (for education) or 10 months (for business/medical) with a 3-month moratorium. For detailed implementation timelines, refer to the scheme guidelines.

• Which department manages this scheme?
  The scheme is managed by the Department of Tribal Welfare, Government of Goa.

• What is the address of the Department of Tribal Welfare?
  The loan scheme is administered through the Goa State Scheduled Tribes Finance and Development Corporation Ltd at Shram Shakti Bhavan, 5th Floor, Patto, Panaji-Goa, – 403 001.

• Does this scheme accept online applications?
  No, the application process for this scheme is currently offline.