Interest rates Annasaheb Patil loan Maharashtra

The Annasaheb Patil Mahamandal loan schemes (IR‑I for individuals, IR‑II & GL‑I for groups) operate with a maximum interest rate of 12 % per annum, which the Corporation reimburses to the borrower via interest subsidy (i.e., interest reimbursement)
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🔹 Individual Loan Scheme (IR‑I)
Max interest rate: 12 % p.a.

The Mandal reimburses the interest up to:

₹4.5 lakh over the tenure (based on ₹15 lakh loan limit)
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Maximum period for subsidy: 7 years .

🔹 Group Loan Schemes (IR‑II & GL‑I)
Max interest rate: 12 % p.a.

For group loans (2–5+ members), interest is reimbursed monthly, up to ₹15 lakh interest or the actual 12 % p.a. on sanctioned loan, whichever is lower
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The subsidy period is up to the loan tenure or up to 5 years, whichever is shorter .

Reimbursement happens monthly after timely EMI payments
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🔸 Important Notes
Although interest is charged by the lending bank, the Mandal reimburses it fully at the rate of 12 % p.a., subject to caps.

In cooperative-bank disbursals, the nominal interest might appear higher, but the state effectively offsets it via reimbursement—benefitting borrowers even in those cases
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✅ Summary at a Glance
Scheme Charged Interest Subsidy Rate Subsidy Duration
IR‑I (Individual) Up to 12 % p.a. Full 12 % p.a. on ₹15 lakh max Up to 7 years, ₹4.5 lakh cap
IR‑II / GL‑I (Group) Up to 12 % p.a. Full 12 % p.a. or interest on ₹15 lakh Up to loan tenure or 5 years

📝 What You Should Do Next
Check your sanctioned interest rate (should be 12 % p.a. or lower).

Ensure LOI is uploaded before sanction for subsidy eligibility.

Make EMIs on time—subsidy is credited monthly post-payment.

Track subsidy deposits into your loan account or account statements.