Pradhan Mantri Mudra Yojana Loan facility up to Rs 10 lakh without any guarantee from central government GOVT LOAN SCHEME 2023
Mudra Loan Scheme
This (PMMY) was launched by the Prime Minister on April 8, 2015. 10 lakh for non-corporate, non-agricultural small/micro enterprises. These loans are offered under PMMY through commercial banks, RRBs, small finance banks, MFIs and NBFCs.
Full details about Pradhan Mantri Mudra Loan Scheme will be given. Yes, how to take loan under this scheme?, documents required for this, how much will be the interest? Thus all the information will be conveyed through this article. Click here to join our Telegram channel now for information about all similar government facilities
Pradhan Mantri Mudra Yojana 2023:
As you all know about MUDRA scheme, MUDRA stands for Micro Units Development and Refinance Agency. A lot of people are educated but they don’t get a job, some people start a new business and they don’t even get a loan anywhere. Modi started this scheme to deal with such situation and to help those who start small businesses or to expand the industry which is already at a small level.
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How much loan is available:
50,000 to 10 lakhs loan is available under this mudra scheme.
Three loan categories:
Under this loan scheme you will get a loan of up to 50,000
Kishore Loan: Under this loan scheme you can avail loan from 50,000 to 5 lakhs.
Under this loan scheme you can take loan from Rs 5 Lakh to Rs 10 Lakh.
You can choose these types of loans based on the type of business you want to do and how much capital you are investing.
What businesses or industries are eligible for loans?:
Grocery store, autorickshaw or taxi rental business, tailoring shop, beauty parlor and salons, garage shop, xerox shop, papal and pickle factory, food product preparation, textile sector, community, exercise school, poultry farm, small produce shop , small business like cloth weaving, loans are given to start many such small businesses.
Main documents required for availing loan:
A form has to be submitted to avail Mudra Yojana loan in Public Sector Union Bank in your city. Age limit, minimum 18 years.
In addition, these documents are required to apply.
- Aadhaar card
- PAN card
- Permanent address
- Business address and
- Proof of ownership
- Balance sheet for 3 years
- Income Tax Returns
- Self Assessment Returns
- A recent passport size photograph
Benefits and Specialties of Mudra Yojana:
Some talented people do not get a job after completing their studies and start their own business, so there is a shortage of money, so this loan is very useful for such people. Also the backward class candidates will get very easy loan facility under this scheme. The interest rate is less if the loan is taken under this scheme.
Sub-person gets only one loan. Tarun loan is charged interest at 0.50 percent of the loan amount. If there is a link to government projects, if there is an option to provide capital subsidy to the government, the subsidy will be considered. The interest rate of this loan depends on the account holder’s bank transactions, credit scores.
These lending banks are:
- Public Sector Banks:
State Bank of India,
- Bank of India,
- Bank of Maharashtra,
- Bank of Baroda,
- Corporation Bank,
- Canara Bank.
Regional Rural Banks:
- Andhra Pragati Grameen Bank,
- Chaitanya Godavari Grameen Bank,
- Deccan Grameen Bank,
- Bihar Grameen Bank,
- Saptagiri Grameen Bank.
Private Sector Banks:
- Axis Bank Limited,
- HDFC Bank Limited,
- City Union Bank Limited,
- DCB Bank Limited,
- Catholic Serial Bank Limited,
- Federal Bank Ltd.
- Gujarat State Co – of Bank,
- Rajkot Civil Cooperative Bank,
- Kaluppur Commercial Cooperative Bank,
- MFI, and
- Financial companies in the MBFC sector.
Interested candidates are below
Application can be submitted online by visiting the official website. Click on this given link to apply or visit the website
How to Apply Online for Mudra Loan?
Interested applicants can apply for Mudra loan online by visiting the official website of the authorized banks. You have to fill the online application form for Shishu, Kishore or Tarun loan scheme depending on your requirement and amount of loan scheme. Follow the below steps to apply online for Mudra Loan
Step 1: Visit https://www.mudra.org.in/ the official website of the PMMY-authorized financial institution where you wish to avail Mudra Loan. Download the relevant form.
Step 2: Download your required loan form (Shishu, Tarun or Kishore) and enter your personal and business details like name, date of birth, residential/business address and educational qualifications in the Mudra Loan application.
Step 3: Then, submit the application form. Make sure you have the necessary documents when submitting to a bank or lending institution.
Step 4: Once the Mudra loan application form and attached documents are processed and verified, the loan will be approved and disbursed to your bank account.
How to Apply for Mudra Loan Offline
Step 1: Visit a PMMY-authorized bank or NBFC of your choice.
Step 2: Make sure you have a self-written business plan.
Step 3: Ask for the Mudra loan application form and fill the required details.
Step 4: Submit the application form along with the documents.
Step 5: Once all the documents are successfully verified, the loan will be approved and the desired amount will be credited to the entered bank account.
After submitting a one-time application, you will get approval within seven to 16 days. It depends on the respective bank. If you need to get a loan to start your dream business within Rs 10 lakh, this scheme is a useful scheme of Govt. So please share this article with all your friends immediately which has information about such an important project, thank you.