Bhubaneswar, Feb 24: The online apply for Odisha Swayam Yojana 2024 began from Friday. The scheme provides interest-free bank loans up to Rs 1 lakh to budding entrepreneurs aged 18-35 years (or 18-40 for special categories) to help them to start new business.
Interested persons can apply for this loan for new business set up and running business. The project will cost Rs 1 lakh, with the borrower contributing a 5 percent margin. Thus, the beneficiary would get an interest-free loan of Rs 95,000 from the concerned bank. No collateral security or processing fee would be needed for the loan.
The repayment period will be four years which includes a moratorium period varying from three to six months as prescribed by the concerned bank/financial institution.
The applicant can apply through swayam.odisha.gov.in or with the help of Mo Seva Kendra.
The choice of the bank selected by the beneficiary during application filing will conduct document and field verification on the receipt of application.
