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How to Apply for Merit Loan Scheme for Good Borrowers — PIPDIC Loan at 1% Interest
How to apply
Merit Loan Scheme for Good Borrowers — PIPDIC Loan at 1% Interest accepts applications online through the official portal on a rolling basis. Follow the steps below — and always confirm the latest details on the official source before you apply.
How to apply
Applications are submitted on the . Confirm the current deadline and document checklist there before you start.
Selection process
Every submission is examined in two stages.
- Completeness and eligibility check: the PIPDIC team first looks through the application to confirm nothing is missing and that the applicant satisfies the scheme's conditions.
- Repayment record verification: the loan account is then assessed — either for continuous classification as a Standard Asset for three years, or for prior settlement of the account with PIPDIC.
- Decision: the result of that assessment determines whether the merit loan and the 1% interest concession are granted.
Applicants can monitor progress on their own customer dashboard once the form has been submitted.
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