KB Pravasi Badratha MSME Loan KB Pravasi Badratha
A Kerala Bank loan of up to ₹5 lakh for non-resident Keralites identified by NORKA Roots, to set up a micro or small enterprise or improve an existing one, with a capital subsidy and an interest subsidy from NORKA.
Last updated on
- Status
- Open
- Run by
- Kerala State Co-operative Bank (Kerala Bank)
What you get
- Up to ₹5 lakh in total
- Term loan up to 80% of the project cost or ₹5 lakh, whichever is less, repaid over up to 60 months
- Working capital up to 20% of expected yearly turnover or ₹5 lakh, whichever is less, renewed every year
- NORKA capital subsidy of 25% of the loan, up to ₹1 lakh, held with the bank and credited to the loan only if the business runs for 3 years from sanction and the loan is not closed before then
- NORKA Roots interest subsidy of 3% for the first 4 years when repayments are made on time
Who can apply
- Micro and small enterprises.
- Only for returnees from abroad.
- Age 18 or over.
- The most on offer is ₹5 lakh.
- Must be a non-resident Keralite identified by NORKA Roots
- Minimum age 18
- The loan must be fully repaid before the borrower turns 60
How to apply
- Register with NORKA Roots and get identified as an eligible non-resident Keralite
- Download the KB Pravasi Bhadratha loan application form from the Kerala Bank forms page and fill in your NORKA registration and reference numbers and your time abroad
- Take it to your nearest Kerala Bank branch
In person, nearest Kerala Bank branch, after identification by NORKA Roots
In Kerala, any Kerala Bank branch, for non-resident Keralites identified by NORKA Roots. The bank says it has 823 branches across all 14 districts.
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.