PADMA Interest Subsidy Scheme
PADMA Interest Subsidy Scheme
PADMA Interest Subsidy Scheme
This scheme reduces the cost of term loans for micro and small enterprises to boost productivity and competitiveness. It applies to units both within and outside PADMA clusters.
Quantum of Assistance
- Inside PADMA Cluster: Interest reimbursement at 6% per annum (or actual paid, if lower), up to ₹20 lakh per year.
- Outside PADMA Cluster: Interest reimbursement at 6% per annum, capped at ₹10 lakh per year.
- Duration: Available for 5 consecutive financial years.
Eligibility Criteria
Micro or small enterprises that have availed a term loan from a recognized institution after the PADMA policy notification. Units must be in commercial production and not classified as NPA.
Application & Disbursement
Applications are filed online within 3 months of the financial year end. Wealth Design LLP helps interpret eligibility, prepare claims, and ensure timely submission to maximize benefits.