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Below Poverty Line Loans (BPL Loan), bpl card loan online apply

Below poverty line (BPL) loans are for those people who come under the poverty line and need financial help for their personal works. The poverty line is rs.32 and 47 for villages and cities respectively. The person who spends money less than this line are considered as Below poverty line people and can get the BPL loan.

BENEFITS OF BELOW POVERTY LINE LOANS

  • The BPL loan is very beneficial for the BPL card holders.
  • It provides them money for fulfilling their needs.
  • It takes low interest rates for the loan.
  • The loan amount can be transferred to any account in the country.
  • They get health,education and other benefits in their lives.
  • They get subsidies.
  • The women get special benefits by fifty percent subsidy.
  • The loan approval process is instant.

TYPES OF BELOW POVERTY LOANS

  1. Scholarship loans for the students coming under the poverty line.
  2. Home loans for the Below Poverty Line card holders.
  3. Educational Loan for the Under poverty line children.
  4. Further education loans for.
  5. Higher Education loans for the students having BPL card.

TYPES OF BELOW POVERTY LINE LOAN SCHEMES BY THE GOVERNMENT OF INDIA

The BPL loan is of various types. The types of BPL loans schemes are.

SUKANYA SAMRIDHI YOJANA:

This loan is a government scheme for the individuals who come in the BPL list. The loan includes the educational and marriage expenses of the girls under BPL line. The amount limit for the first deposit year is one thousand and maximum limit is 1.5 lakhs. The interest rate is 8.6%. 

PRADHAN MANTRI JAN DHAN YOJANA:

This loan scheme promotes savings accounts,deposit accounts,crediting and debiting,etc. This loan has an interest rate of only 4% per annum. The overdraft is up to 5,000 after six months. The credit score is not necessary for this loan scheme.

RAJIV GANDHI AROGYA YOJANA:

This loan scheme is launched by the maharashtra government.  This includes the medical treatment and medicinal expenses. Rs.1.5 lakhs are given to every family for medical facilities.

PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA:

This government scheme allows the life insurance of the individuals of Rs. 2 lakhs. The people above 18 years and below 50 years can apply for this loan scheme. This loan scheme provides insurance after the death of the individual. 

PRADHAN MANTRI MUDRA YOJANA:

The full form of MUDRA is micro units development and refinance agency. This loan is meant for the people to fulfill their financial needs and overcome their problems. This loan includes business,agriculture and educational opportunities for the individuals. The repayment tenure for this loan is seven years.

SWARNA JAYANTI SAHARI ROZGAAR YOJANA:

This loan is for the individuals who come under the poverty line and live in the urban areas and are searching for employment. The loan provides them an opportunity to search for a job and make a better lifestyle.

APPLY FOR BELOW POVERTY LINE LOAN

Apply for a bpl loan in a few easy steps.

  • Visit to the nearest branch of the bank which provides the BPL loan.
  • Take an application form from the counter.
  • Start filling the form with appropriate information and required documents.
  • Sign the documentations and the application form for further procedure.
  • Submit the application form to the bank.
  • Wait for the approval and verification process by the bank.
  • The bank will approve your application form after verifying the documents.
  • The bank will transfer the loan amount in your bank account.

DOCUMENTATIONS REQUIRED FOR  BELOW POVERTY LINE LOANS

  • The identity proof is required such as aadhar card, ration card, etc.
  • The BPL card is very important documentation for this loan.
  • Address proof of current residence is also asked by the bank.
  • Age proof is also a very important document.
  • Passport size photographs are necessary.

ELIGIBILITY FOR  BELOW POVERTY LINE LOANS

  • Only The Below poverty line card holders can apply for this loan.
  • The age criteria is 18 to 50 years for the applicant.
  • The education criteria is up to ninth standard.
  • The nationality should be an Indian.
  • The applicant must have at least one bank account.

BANKS GIVING  BELOW POVERTY LINE LOANS

HDFC BankCentral Bank of India
ICICI BankKotak Mahindra Bank
Axis BankTATA Capital
SBIBajaj Finserve

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