Odisha 2 Lakh Interest-Free Loan for Youth 2024: How to Apply Online

Odisha state government launched Odisha 2 Lakh Interest-Free Loan for Youth 2024. To help the financially unstable youth of Odisha state the Odisha state government announced the launch of 2 lakh interest free loan for youth 2024. To increase self-employment opportunities in Odisha state the state government has decided to give INR 2 lakh interest-free loans to all the youth of Odisha state. The loan that is provided by the Odisha state government is completely interest-free the youth have to pay just the amount of the loan without any interest. The repayment period of the scheme 2024 is 4 years.

Overview of Odisha 2 Lakh Interest-Free Loan

To increase self-employment among the unemployed youth of Odisha state the audition state government launched the Odisha to lakh interest-free loan for youth. With the help of this loan, the applicants can start their own small business without worrying about financial troubles. A total of 1 lakh applicants from rural areas and 1 lakh from urban areas will be selected for this interest-free loan scheme. There will be no collateral or processing fee for this loan and the repayment period will be four years, which includes a moratorium period varying from 3 to 6 months. The applicants can fill out the application form on the official website to avail the benefits of this scheme.

Also Read: Integrated Youth Development Programme

The objective of Odisha 2 Lakh Interest-Free Loan

The main objective of launching the Odisha 2 Lakh Interest-Free Loan is to increase employment opportunities in Odisha state. With the help of this scheme, the financially unstable unemployed citizens can get financial assistance to start their small businesses. All the applicants who are between the age group of 18 to 35 years in Odisha state are eligible to apply for the 2 lakh interest-free loan. With the help of this scheme, the Odisha state government will decrease the unemployment rate among the youth of the Odisha States significantly. All the applicants who clear the eligibility criteria must fill out the application form on the official website.

Key Highlights of 2 Lakh Interest-Free Loan Scheme

Name of the scheme	Odisha 2 Lakh Interest-Free Loan
Launched by	Government of Odisha
Objective	Provide financial assistance
Beneficiaries	Youth of Odisha
Official website

Eligibility Criteria

• The applicant must be a permanent resident of Odisha state.
• The applicant must be a youth between the age group of 18 to 35 years.
• The applicant must be an unemployed citizen.

Date of Announcement

• The 2 Lakh Interest-Free Loan for Youth 2024 was announced on 12th February 2024.

Also Read: HRMS Odisha

Benefits of the scheme

• The selected applicants under the 2 Lakh Interest-Free Loan will get financial assistance of INR 2 lakh in the form of a loan.
• The financial assistance will be transferred directly to the selected applicant’s bank account.
• The loan will be completely interest-free given by the state government.
• The applicant can start there on small business with the help of the loan.
• This scheme will create employment opportunities by providing financial assistance to the youth of the state.

Required Documents

• Aadhar Card
• Residence certificate
• Income certificate
• Age proof
• Passport size photograph
• Mobile number
• Ration card

Selection Process

• The applicants will be selected based on their clearance of eligibility criteria.
• Only the permanent residents of Odisha state will be selected for this scheme.
• To be selected for the 2 Lakh Interest-Free Loan for Youth 2024 the applicant must be between the age group of 18 to 35 years.
• The applicant must want to start their own business to be selected for the scheme 2024.
• The applicants might have to go through an interview round before availing the financial assistance.

Odisha 2 Lakh Interest-Free Loan Apply Online

• To Apply for Odisha 2 Lakh Interest-Free Loan Online the applicant can go to the official website.
• On the home page click on the option Apply Online.
• A new page will appear on your screen.
• Enter all the details that are asked and attach all the necessary documents.
• Click on the option Submit to complete your process.

FAQs