The Gruhalakshmi Scheme Multipurpose Corporation Society Loan is an initiative designed to support economically weaker women and empower them through financial assistance. This loan program functions under various state-supported multipurpose corporations that aim to uplift women belonging to backward classes, minority communities, scheduled castes, and economically disadvantaged families. The goal of the scheme is to provide easy, low-interest financial support to help women meet their household, livelihood, and small business needs without falling into the trap of high-interest private borrowings.
Objective of the Scheme
The main purpose of this loan is to promote women’s economic independence. Many families struggle due to limited income, and women often need small but essential financial support to start self-employment activities, expand home-based work, or meet emergency needs. Through this scheme, eligible women can access government-supported loans through Cooperative and Multipurpose Corporation Societies at affordable interest rates.
Eligibility Criteria
To apply for the Gruhalakshmi Scheme Multipurpose Corporation Society Loan, women must fulfill certain conditions:
- The applicant must be a resident of the state implementing the scheme.
- The woman applying should belong to BPL (Below Poverty Line) or low-income families.
- Priority is given to beneficiaries already registered under the Gruhalakshmi scheme, widows, single mothers, and women from minority or SC/ST/OBC categories.
- The age limit generally ranges from 18 to 60 years, depending on the corporation’s rules.
- The applicant must not have defaulted on earlier government loans.
Loan Amount & Interest
The loan amount under this scheme varies depending on the corporation and purpose. Most cooperative societies offer loans ranging from ₹10,000 to ₹50,000, while some may extend up to ₹1,00,000 for business activities. The interest rate is comparatively low, often between 1% to 4%, and in some cases, partial interest subsidies are also provided by the government. The repayment period ranges from 12 months to 36 months, ensuring that beneficiaries can repay comfortably without financial pressure.
Purpose of the Loan
This loan can be used for multiple needs, making it highly flexible:
- Starting small businesses such as tailoring, beauty parlours, petty shops, dairy farming, food products, etc.
- Expanding existing home-based work.
- Purchasing small equipment, raw materials, or tools.
- Meeting essential household needs in times of financial difficulty.
- Supporting emergency medical or educational expenses.
Required Documents
Applicants generally need the following documents:
- Aadhaar Card and Address Proof
- Income Certificate or BPL Card
- Caste Certificate (if applicable)
- Bank Passbook
- Recent Passport-size Photos
- Filled Application Form from the corporation society
How to Apply
Women can apply through their nearest Multipurpose Cooperative Society, District Welfare Corporation Office, or online portals (if available in the state). The application is verified, eligibility is checked, and the loan is sanctioned after approval by the corporation committee. The amount is directly credited to the applicant’s bank account.
