Merit Loan Scheme for Good Borrowers
State: Puducherry
Ministry: null
Department: Industries and Commerce Department, Puducherry
Category: Banking,Financial Services and Insurance, Business & Entrepreneurship
Beneficiary Type: Business Entity

The scheme aims to assist the units of PIPDIC whose loan accounts are classified as Standard Assets continuously for 3 years. The assistance is provided for construction of additional building, purchase of additional machineries & equipments essential for expansion /modernisation / diversification.

Benefits:
**Loan Limit:** Maximum amount of loan shall be the equal amount paid by the unit.
**Interest Concession:** 1% less than the normal rate of interest.
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Eligibility:
The scheme is applicable to the following - 

- Already assisted units of PIPDIC whose loan accounts are classified as Standard Assets continuously for 3 years.
- Good Borrowers who have already settled the loan account with PIPDIC.

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Application Process:
[Online]
User Manual: https://pipdic.in/uploads/PIPDIC_docs/user_manual.pdf
How to Apply: https://pipdic.in/how_to_apply
Applicant Login: https://pipdic.in/customer_login
Application Link: https://pipdic.in/forms
Grievance Form: https://pipdic.in/grievance_form
Registration ProcessStep 1: Registration and Profile CreationVisit the PIPDIC website. Click "Login". Click the “New customer” link under the “Login” menu, enter a username, email-id, password, and captcha, and then click the "Register" button.
Step 2: Email Verification and LoginUse the registered email-id to log in. An OTP is sent to the registered email address.
The applicant is then required to enter the OTP and click "Login" to access to the customer dashboard.
Step 3: Profile UpdateUpon successful login, the customer needs to update their profile by accessing the "Edit Profile" option (top right corner of the dashboard).
The applicant must provide all required details. Click "Submit".
Application Process (Loan Application)Step 1: Accessing the Loan Application FormTo initiate the loan application process, the applicant must navigate from the customer dashboard by clicking on the "Applications" tab.
Step 2: Reviewing Checklist and Accepting TermsA pop-up window displaying a checklist of General Terms and Conditions, interest rate structure, investigation fees, and collateral security norms will appear for review.
Carefully read this checklist, confirm that all necessary documents have been gathered as requested, and click the “I Agree” button to proceed to the application form.
Step 3: Filling the Loan Application FormFill the multi-step application form, providing appropriate details in all mandatory fields across the required steps.
Step 4: Declaration and SubmissionThe applicant must carefully read and agree to the comprehensive declaration provided within the application form (covering confirmation of true information, absence of unauthorized borrowing arrangements, and consent to verification) before finally ticking the "I agree to terms" checkbox and clicking the final "Submit" button for the main application form.
Step 5: Promoter Bio-Data and Document UploadThe system will redirect the applicant to enter the Biodata of the Promoter, Partner, or Director, which is typically a multi-step process. The necessary KYC and supporting documents must be uploaded by clicking the "Choose File" button next to each field.
Step 6: Application Fees PaymentOnce the entire application and bio-data submission is complete, pay the applicable application fee.
If selecting online payment, the system automatically redirects the applicant to the payment summary page, where they verify their details and make the payment.
Step 7: Receiving and Saving Payment ReceiptUpon successful payment, the user is redirected back to PIPDIC website, where a receipt for the application fee paid is generated.
The applicant can print this receipt or save it to their computer as a PDF for future reference.
Application Status Tracking and SupportThe customer can monitor the status of their submitted application (which will initially show a status like 'UNDER REVIEW') by clicking the "View My application" link on the dashboard and selecting the relevant loan application in the drop-down menu.
Application FeesFor loans up to ₹25,00,000/-, the application fee is ₹100/-.
For loans above ₹25,00,000/-, the application fee is ₹200/-.
Grievance Redressal / Help & SupportThe applicant can contact the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited at No.60, Romain Rolland Street, Puducherry 605001.
The office phone number is 0413-2334361.
The email address for contact is info@pipdic.com.
The General Manager (Administration) can be contacted via mobile at 9894653835.

Documents Required:
Requisition Letter (No formal application form is required).
Audited Financial Statements for the Last 3 Years.
Income Tax (IT) Returns.
Collateral Security Documents (Collateral security in the form of immovable property must be offered).
Original Title Deeds in the Name of the Party.
Antecedent Title Deeds (Title deeds executed between vendors and third parties) for 30 Years (if possible) or 20 Years (Certified Copy or Original).
Encumbrance Certificate for the Property for 30 Years Prior to the Date of Sanction Order (Original).
Valuation Certificate of the Property Assessed by a Chartered Engineer from the Approved Panel of the Corporation (Original).
Patta of the Said Property.
Field Measurement Book Copy (FMB Copy) of the Said Property (Original).
Latest Tax Paid Receipt (Original).
Chitta Nagal of the Said Property (Original).
Settlement Register Copy of the Said Property.
Adangal Certificate (Original) (If the properties are agricultural lands).
Certificate Issued by the Village Administrative Officer to Prove the Owner's Possession (Original).
Legal Heir Declaratory Decree Obtained from the Competent Court in Puducherry (For Puducherry property) or Legal Heir Certificate Obtained from Tahsildar, Tamil Nadu (For Tamil Nadu property) (In case of properties in the name of deceased persons).