Pravasi Loan(officially known as NDPREM) is a Govt of Kerala(under Norka) initiative.
NDPREM - Norka department project for returned immigrants.
Under this scheme, Norka will provide 15% subsidy on loan amount, and 3% reduction on interest will also be given.
Want to join pravasi pension scheme? Read -> pravsi Kshemanidhi instead.
Terms of NDPREM
- You will get subsidy only after the full repayment of loan.
- You will not get 3% reduced interest rate if more than 3 repayment instalments are lapsed.
- You should take loan from Norka approved bank.
- Pravasi should contact Norka and get approval before taking loan.
- Loan is provided solely based on banks judgement and Norka will help you.
Pravasi loan Eligibility
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Returned pravasi, who worked abroad for a minimum of 2 years.
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Bank can decide to grant or reject your loan application based on your credit score.
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It is better to approach norka for NDPREM(pravasi loan) only after getting assurance from bank about your loan.
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Bank have full authority to either reject or approve loan based on your assets & credit score(just like any other loan).
How to apply for NDPREM
If you are eligible for the NDPREM scheme according to above terms, you can apply for this by going to norka roots official website.
First, you have to create an account at norkaroots.org website link website.
After creating account and signing in, you can see option to apply.
Documents needed for Pravasi loan.
- Photo.
- Sign.
- Passport.
- Visa.
- Project report.
- Bank details.
- Pan card.
After uploading documents and submitting the application, you will get approved after 2 or 3 weeks(or you will get a call from Norka representative to let you know the further proceedings)
List of banks authorised for providing Norka NDPREM approved loan.
State Bank of India, Canara Bank, Kerala Bank, Bank of Baroda, Federal Bank, South Indian Bank, Indian Overseas Bank, Union Bank of India, Bank of India, UCO Bank, Dhanlaxmi Bank, Kerala State Co-operative Bank, Kerala Financial Corporation Kerala State Industrial Development Corporation, Kerala State SC/ST Corporation, Kerala State Women’s Development Corporation, Kerala State Pravasi Welfare Development Cooperative Society Limited (Malappuram), Travancore Pravasi Development Cooperative Society (Thiruvananthapuram).
Sponsored by - PCWA
Those who need help from our pravasi association(PCWA) can contact office at Thiruvalla.
Pravasi Convoy Welfare association members work together for helping each other.This includes applying for different welfare schemes by Govt, acting as a force, to seek attention of Govt. & other authorities to different problems of Pravasi Malayalees.
PCWAK(Pravasi convoy welfare association Kerala)
Registration number : PTM/TC/105/2016.
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