A common belief is that interest refund schemes are only for reserved categories. That is not correct.
AMRUT runs an individual loan interest refund scheme for economically weaker open-category applicants. Interest is refunded at the bank's rate or 12%, whichever is lower, for EMIs paid on time.
The Annasaheb Patil Mahamandal GR of 21.11.2017 does not name a caste. It covers economically backward applicants aged 18–45 within the non-creamy-layer income limit who are not covered by another corporation – up to 12% interest on an individual loan of up to ₹10 lakh, and on group loans of ₹10–50 lakh (refund up to ₹15 lakh).
Several communities also have their own corporations – Parshuram for Brahmin applicants, and corporations for other communities – with similar 12% patterns. Women in tourism can use the Aai policy for up to ₹4.5 lakh of interest back.
The rule that matters
Apply before you take the loan, and pay every EMI on time. The letter of intent comes first; late EMIs usually lose that period's refund.
See the comparison table or check your eligibility free.