Different Government Loan Schemes For Unemployed Youth


It is probably impossible for unemployed youths to secure a loan from financial institutions these days. Getting a loan is difficult for them because they do not have a stable credit history or professional career in which the financial institutions decide the loans. So, to help them financially, there are several loans and government loan for unemployed youths  to help them pursue their dreams like:


Cash Loans
The government of West Bengal has started this scheme to support unemployed youths. Under this scheme, a jobless member can get loans of up to Rs. 50,000. Any member who is between 18 to 45 years of age can apply for this scheme.
NEEDS Scheme
This is a scheme where the state government provides a subsidy of 25% for any loan taken by unemployed youths who are graduates.
Agriculture loan
This is a very beneficial scheme to help the unemployed youth engaged in the agriculture sector. Any unemployed agriculture graduated with an agriculture degree can apply for this loan. His age should not be more than 22.
Secured loans for unemployed
Unemployed youths can also apply for these loans under which they need to pledge their assets to sanction the loan.
Prime Minister Rozgar Yojana
This is a scheme backed by the government to help unemployed youths. Under this scheme, they can secure loans to set up their business. Any individual who has studied till class 8th can apply for this scheme. Loans of up to Rs. 5 lakh can be availed.
So, these were some of the government-backed schemes which are aimed at helping jobless youths of our country.

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