The government of Andhra Pradesh implements a number of programmes to benefit the state’s residents. Similar to this, YSR Zero Interest Loan Scheme was introduced by Andhra Pradesh Chief Minister Jagan Mohan Reddy. The primary objective of this programme is to provide interest-free loans to Andhra Pradesh women. We will go over all of the key details of the YSR Zero Interest Loan Scheme, which was just introduced by the chief minister of the state of Andhra Pradesh, in this post. All of the benefits that will be given to DWCRA affiliations throughout the state of Andhra Pradesh will be shared with you. The eligibility requirements and list of documents needed are provided in this post, along with all the step-by-step instructions on how to apply for the plan on your own.
About YSR Zero Interest Loan Scheme
The AP Government has launched the YST Zero Interest Loan Scheme. Women are stepping forward in greater numbers now to create various Self Help Groups (SHGs), aid society, and inspire other women to be independent. The DWCRA (Development of Women and Children of Rural Area) groups and affiliations are also open to women who belong to them. The Andhra Pradesh government has also said that it will contribute 1400 crore rupees to 8.78 lakh self-help group bank accounts as part of the YSR Zero Interest Loan Scheme. All candidates who wish to submit an online application must obtain the official notification and thoroughly review all the requirements. The YSR Zero Interest Loan Scheme will soon be put into effect, according to the state’s chief minister. These women’s affiliations will be strengthened, enabling them to respond to the COVID-19 epidemic.
Key Highlights of YSR Zero Interest Loan Scheme
| Launched By | Andhra Pradesh Government |
| Name of Scheme | YSR Zero Interest Loan Scheme 2024 |
| Objective | To provide financial Help |
| Benefits | Provide the receivers credit with no interest |
| Eligibility Criteria | Must be a resident of Andhra Pradesh |
| Beneficiaries | DWCRA Women Associations and self-help organisations |
| Official Website | Announced Soon |
The objective of YSR Zero Interest Loan Scheme
Making women financially independent, self-reliant, and protected is the fundamental goal of the YSR Zero Interest Loan Scheme. Self Help Group (SHG) and DWCRA (Development of Rural Area Women and Children) association members are the primary beneficiaries of this programme.By this programme, women will be given loans with no interest to launch their enterprises. Additionally, with the aid of this programme, women will be able to find employment prospects in a variety of fields. Women can now launch their own enterprises without relying on anyone. She will be able to easily begin working thanks to this programme by obtaining a documented loan with no interest.
Benefits of the YSR Zero Interest Loan Scheme
The beneficiaries will receive interest-free credit when the policy is used. The funds can be used by the groups to expand their services. The strategy for providing financial support to DWCRA affiliations has been developed. The members of women’s self-improvement groups will also be eligible to apply and advance under this scheme. By this proposal, there won’t be any interest applied to the candidates who receive state government credit. The state’s chief minister has further determined that the power will cover all of the pupils’ tuition costs. Around 11.50 lakh students will benefit from it.
Implementation of the YSR Zero Loan Interest
According to the state reports, the Zero Interest Loan Plan will truly benefit up to 90 lakh women who connect to the various DWCRA affiliations. In addition, the proposal will provide financial support to numerous self-improvement groups. Through DBT, the credit amount approved for self-improvement gatherings and DWCRA affiliations will be saved in the relevant financial balances. According to state media, the legislature recently disbursed an amazing sum of Rs. 1400 crore.
Third Instalment Of YSR Zero Interest Scheme
During his visit to Ongole Town, Chief Minister Y.S. Jagan Mohan Reddy would give the self-help group women the third instalment of the zero interest programme. The 22nd of April 2022 will see the release of this chapter. The beneficiaries who are women will get the instalment payment in their bank accounts. The Chief Minister will also speak to the people during a gathering at the Ongole town’s ABM college campus. Direct benefit transfer will be used to transmit this sum. This programme has been started to give state ladies financial assistance. The candidate must be a member of DWCRA, an organisation for women, or a self-help group to benefit from this programme.
Be prepare for the YSR Zero Interest Loan
The state budget for the fiscal year 2021 was presented by Finance Minister B. Rajendranath Reddy on Tuesday at the state Assembly in Velagapudi. Even after the financial strain brought on by the COVID-19 issue, the AP Government continues to allocate cash for all schemes. The finance minister stated that while combating COVID is a top priority, welfare programmes are equally crucial. To assist the women who are affiliated with self-help groups, the government has earmarked Rs 1,365.08 crore in the state budget for the YSR Zero Interest Loan Scheme.
59661 Women Received Benefits from the Program
Every year, the Andhra Pradesh government deposits money into the bank accounts of the recipients who overlook it. In general, this money is transferred into their account twice a year, in June and December. This time, on December 28, the government transferred the cash into the recipients’ bank accounts. By various benefit programmes, 9.30 lakh recipients have received deposits totalling about Rs 703 crores. The Andhra Pradesh chief minister has deposited Rs 53.51 crore into the bank accounts of 59661 women as part of the YSR Zero Interest Loan Scheme. On this occasion, the government has also emphasised that despite a lack of funding, it has continued to carry out some welfare programmes.
Amount Transferred Already
The chief minister of Andhra Pradesh formally posted Rs. 1400 crores online as part of the plan’s introduction to pay back credit card premiums. The funds were electronically sent into 8,78,874 records of the DWCRA batch lying under the domain of SERP and MEPMA when the Central Minister hit the button on the website. A total of 90,37,254 women who are members of the state-wide self-improvement DWCRA groups will benefit from this. This was a fantastic approach to launch the plan.
Eligibility Criteria
To be eligible for the 0% loan programme, an applicant must meet the following requirements:-
- The candidate must reside in the state of Andhra Pradesh.
- A candidate must be a member of a self-help organisation or DWCRA group for women.
- Only Andhra Pradesh women are eligible for the programme.
- The candidate must have a valid bank account number.
Documents Required
All qualified applicants for the Zero Interest Loan Scheme must review the list of papers needed to apply.
- Photo ID proof
- SGH or DWCRA certificate
- Passport size photograph
- Bank Details
- Aadhar card
How to Apply Online for the Zero Interest Program
- First, visit the YSR Zero Interest Loan website.
- Before you, the home page will load.
- You need to select the Apply Now an option on the homepage.
- You’ll see the application form there.
- You must fill out this application form with all necessary information, including your name, phone number, email address, etc.
- You must now upload all necessary documents.
- After that, you must select “submit.”
- This process will allow you to apply for the YSR zero-interest loan programme.
Contact Details
Applicants need to visit the official website of the YSR Zero Interest Loan Scheme, where they get all the details related to this scheme and its benefits.