BPL Card Loan in 2023 and how to avail & maximum Loan amount

Last Updated on October 4, 2023 by Brajesh

BPL Card Loan in 2023 and how to avail & maximum Loan amount

In today’s article we are going to tell you all about BPL Card Loan in 2023 how to avail & maximum Loan amount. For complete understanding read the entire article given below.

What is BPL Card

BPL means, Below Poverty Line, holder of this card are ones who stays below poverty line as specified by the State Government. Families who are holding BPL Card gets some financial benefit or benefit in some other form on regular basis from state government. They receive 10 to 20 Kg of food grains at 50% cost.

BPL Income Limit in India is around ₹ 27000/- Per Annum, so if annual income of a family exceeds ₹27000 they are not considered
for BPL Card as per Union Cabinet. However this limit varies state to state.

Benefit of BPL Card

BPL Card holder gets different type of benefit & financial assistance from Government, few of them are listed below:-

  • Card Holder are entitled for food subsidies announced time to time by Government
  • Healthcare benefit is also provided to Card holder
  • Education benefit and assistance is also given to families under BPL
  • Housing and shelter benefits is also provided to card holder
  • Subsidies against food grains
  • Subsidies against kerosene oil

Objective of BPL Card

Main objective of BPL card is to provide financial assistance and access to many social and welfare scheme of the Government. The best part of BPL card is that this can be used in any part across the whole country so that basic needs of the families were met.

BPL Card Loan in 2023, schemes launched by Government

Swarna Jayanthi Shahri Rozgar Yojana (Under BPL Card Loan)

Aims to provide employment option through own ventures in Urban area for any unemployed Individual.
Loan Amount    :- Maximum Of ₹50000/-
Subsidy             :- Up to 15%
Tenure               :- 3 to 7 Years
Additional Subsidy is available for Women borrower

Swarna Jayanti Gram Swarozgar Yojana (Under BPL Card Loan)

Aims to provide employment option through own ventures in Rural area for any unemployed Individual
Loan Amount :- Maximum Of ₹50000/-
Subsidy          :- Up to 30%
Tenure            :- 5 to 9 Years

Prime Minister’s Employment Generation Scheme (Under BPL Card Loan)

Aims to provide employment option through own ventures in Rural & Urban area for any unemployed Individual. This will help in setting a bogger project as compared to other 2 schemes mentioned above
Loan Amount :- Maximum Of ₹2500000/-
Subsidy          :- Up to 15% – 30%
Tenure            :- 3 to 7 Years

Others Types of BPL Card Loan available

There are different type of loan which a BPL Card holder can avail. They were :-
Home Loan : Generally BPL Card holder stays in mud house or temporary shelters and they were always in need of a good house for which they can take the benefit and assistance of BPL Card. Home loan can be availed at lower interest cost basis BPL Card
Education Loan : For any families who is under BPL, education for their children is the biggest challenge. Children trying for higher studies like IAS, RAS can avail such loan as cost of study in India is too costly and for a family under below poverty line its very difficult to avail those course. Hence, Government provide assistance to those class of families students to avail education loan at cheaper cost.
Employment Loan/Loan to start business : Families who are carrying BPL Card , for their survival can opt for small loan to start their own business. Government provides this loan at subsidies rate to BPL families. This type of initiative help the borrower to have their own business and to earn a good basic amount for their livelihood and survival.

Documents required fro BPL Card Loan

  • BPL Card
  • 2 Passport size photo
  • Aadhar Card
  • Bank Paasbook
  • Ration Card
  • Voter ID Card
  • PAN Card if available
  • Residential proof
  • Age proof, as minimum age to apply is 18 Years

How to apply for BPL Card Loan

BPL Card Loan in 2023
Manual Application:
  • Borrower need to search for Bank Branch
  • Have to place application for BPL Card Loan
  • Attach all the documents as required
  • Submit the application at the bank branch counter
  • After verification of documents, bank will approve the application
  • Post approval bank will transfer the borrowed amount to your Bank Account
Online Application:
Borrower can also use official website of Bank apply for BPL Card Loan.

Interest rate on BPL Card Loan & Maximum Amount of Loan

Banks provide BPL Card loan at a subsidies interest rate so that people under below poverty line were not burden by interest cost. Interest should be around 6-8 %, however this can be checked by visiting the bank branches.
Bank will provide a loan amount up to a maximum from ₹ 50000 to ₹ 2500000/-. This can also be checked with Bank branches or official website of any Bank in India.
Loan Interest may vary depending on Loan amount

Frequently Asked Question

FAQ on BPL Card Loan

BPL means, Below Poverty Line, holder of this card are ones who stays below poverty line as specified by the State Government.
Family having annual household income of less then ₹27000/-
BPL Income Limit in India is around ₹ 27000/- Per Annum, so if annual income of a family exceeds ₹27000 they are not considered for BPL Card as per Union Cabinet. However this limit varies state to state.
Below were the popular scheme launched by Government for BPL Card holder :- Swarna Jayanthi Shahri Rozgar Yojana Swarna Jayanti Gram Swarozgar Yojana Prime Minister's Employment Generation Scheme
1. Education Loan 2. Housing Loan 3. Loan to Start a business
Loan up to ₹ 2500000 can be availed by BPL Card Holder
Repayment period range from 7 to 9 Years

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