Swayam Scheme Odisha 2024: How to Get Rs 1 Lakh Interest-Free Loan

The Swayam Scheme Odisha 2024 has been launched by the Odisha Chief Minister Naveen Patnaik. It provides interest-free loans to youth and ration cards to families to support them. This is a positive step for the people of Odisha. The primary goal of the scheme is to assist everyone by providing interest-free loans. It also offers financial assistance to families with ration cards. The Swayam Scheme Odisha 2024 will enable many people to launch their businesses and lead easier lives. Additionally, it will increase employment because as businesses expand, they will need a greater number of workers. Interested candidates can apply on the official website. Keep reading this article for more information about the scheme.

About Swayam Scheme Odisha

The Odisha state government announced the launch of the Swayam Scheme Odisha to assist the state’s economically unstable citizens. Under this Scheme, all permanent residents who fall within the 18 to 35-year age range will receive financial assistance in the form of a loan of up to 1 lakh Rs. The youth of Odisha state can start their small businesses and create jobs for others by contributing loan money. With a budget of Rs 448 crore, the government plans to support 1 lakh eligible youth in both rural and urban areas. The deserving and needy people of Odisha can start their small businesses to run their families with this scheme.

Also Read: Odisha 2 Lakh Interest-Free Loan For Youth

The objective of the Swayam Scheme Odisha

The primary goal of Swayam Scheme Odisha is to promote and generate in the state of Odisha among the younger generation. To promote economic growth and entrepreneurship to eligible people so that they can live their lives easily. This program offers interest-free loans to young people and financial support to ration cardholders. This Scheme was launched to enhance the standard of the communities and help its people. The unemployed citizens can launch their small businesses and use the INR 1 lakh loan as starting capital. This plan will give all skilled and semi-skilled workers in the state of Odisha job opportunities.

Key Highlights of Swayam Scheme Odisha

Name	Swayam Yojana
Initiated By	Government Of Odisha
Launch Date	12th February 2024
Beneficiaries	Youth of state
Objective	To provide young people up to Rs. 1 lakh to launch businesses
Official Website	Swayam Odisha Portal

Also Read: Swayam.Odisha.Gov.In Apply Online

Eligibility Criteria

• The applicant must live in the state of Odisha permanently.
• They must possess a ration card.
• The candidate needs to possess all necessary paperwork.

Age Criteria

• The applicant must be between the ages of 18 and 35
• In special categories, the applicant shall be taken up to 40 years

Exclusion Criteria

• The applicant should not be a defaulter of any bank or have the same kind of scheme as any other bank.
• The employees of state or central government departments will be excluded.
• If any member is already a beneficiary of this scheme.

Also Read: Swayam.Odisha.Gov.In Login

Cost of Project Under Swayam Scheme Odisha

• Under this scheme, the chosen beneficiaries will receive a loan of rupees 1 Lakh with 5% margin to be paid
• So, 95,000 Rs will be totally without interest.

Features of the Swayam Scheme

• The Swayam Scheme Odisha 2024 was announced by the state government of Odisha on February 12.
• This program lends the youth of the state of Odisha one lakh rupees.
• The Odisha government will generate job opportunities through this scheme.
• People in Odisha state doesn’t need to worry about capital funding to launch their own businesses.
• The loan provided by the Odisha government under this scheme is almost interest-free.

Rate of Interest and Payment Schedule

Rate of Interest	Repayment period
5% interest Rate	4 years

Also Read: Integrated Youth Development Programme

Application Processing Fee

• There will be zero application or processing fees charged by the banks.

Insurance Coverage

• Full coverage covering every kind of risk will be provided. such as floods or earthquakes for 110% of the stocks that the bank had declared.
• The cost of insurance will be carried by the borrower.

Implementation Process

• Only the state of Odisha will be the implementation site for the Swayam Scheme Odisha 2024.
• This program will be put into place to assist the state of Odisha’s economically precarious residents.
• Mo seva Kendra can be used by the applicants.
• Banks will disburse the money after the completion and verification of the candidates.
• The beneficiary can pay on their repaying time according to the period.

Swayam Scheme Odisha Apply Online

To apply for Swayam Yojana Odisha, the user must take the actions listed below:

• Initially, visit the Odisha official Swayam Yojana website.

• The website’s home page will launch.
• Select the Apply Online option.
• On the screen, the application form will open.
• Now, complete the form by entering all necessary information, such as your name, address, phone number, email address, and Aadhar card number.
• Subsequently, upload all necessary files.
• Lastly, to finish the application process, click the Submit button.

Download Important Guidelines

To download the guidelines for Swayam Yojana Odisha, the user must take the actions listed below:

• Initially, visit the Odisha official Swayam Yojana website.
• The website’s home page will launch.
• Select the guidelines option.
• On the screen, the guidelines will open.
• Then select the rural or urban guidelines.
• And the pdf will open on your device.

Swayam Odisha Guidelines Download

Swayam Scheme Guidelines Rural

Swayam Scheme Guidelines Urban

Contact Details

• Official website: https://swayam.odisha.gov.in/

FAQs