Business Loan: Government has made fun, giving loan of Rs 10 lakh without pledging anything, no processing fee..

Cheap loan: Nowadays, taking a loan from banks is not such an easy task, you do not get a loan without pledging something. Even if you get a loan somehow, it is very difficult to repay it due to the huge EMI (loan EMI rules). In such a situation, the government has made the loan takers happy by taking a relief decision. The government is giving a loan of up to Rs 10 lakh without any processing fees. It is also very easy to repay it, you can take this loan amount under a special scheme.

Facility to take loan according to category-

The biggest facility of the loan available under Pradhan Mantri Mudra Yojana is that it provides loans according to category. The customer can take it in less or more form by choosing the category (PMYY category) as per the type of loan amount he needs. Under this scheme, the loan is available under three categories. These include the Shishu loan, Kishor loan, and Tarun loan category.

This is the loan amount according to the category-

The loan amount limit in the Pradhan Mantri Loan Yojana (PMYY loan amount limit) is according to the category. In these, you can take a loan of 50 thousand rupees in the Shishu loan category. You can take a loan amount of up to 5 lakh rupees in the Kishore loan category and 10 lakh rupees in the Tarun loan category (PMYY tarun loan). The names of these categories indicate whether the loan amount is more or less.

This is the purpose of the scheme-

To get rid of financial problems for small businessmen, raise the standard of living of the youth, and make them self-reliant, the central government (center govt loan scheme) started the Pradhan Mantri Mudra Yojana about 10 years ago. Many people have taken advantage of this scheme. Under this scheme, loans are given for non-corporate and non-agricultural purposes.

You will get loans from these banks -

If you want to take a loan under Pradhan Mantri Mudra Yojana, then you can take a loan from any government-private, regional rural bank, small finance bank, or non-financial company. For this, you will also get the facility to apply online and offline (how to apply in PMYY).

No processing fee and interest -

There are many benefits of Pradhan Mantri Mudra Yojana. The loan received through this scheme is collateral-free, that is, you do not need to mortgage anything. No processing fee is also required for this. No interest is also charged on this loan.

The loan period can be increased -

If you are taking a loan (loan from PMYY) under Pradhan Mantri Mudra Yojana, then the loan period can be kept from 1 year to 5 years. The special thing is that if someone is unable to repay the loan in 5 years, then it can be extended further. Interest is charged on the amount of this loan, which is withdrawn through Mudra card (mudra card kaise banwaye) and spent. ,

The loan will be available for business-

If you are thinking of doing business (business loan), then you can get a loan (PMYY loan categories) in three categories through Pradhan Mantri Mudra Yojana. In these, interest rates are fixed differently according to the category.

How to apply for PMYY-

To apply for PMYY, log in to its official website mudra.org.in. After this, you will find all three categories of this scheme on the home page. You can choose the category according to which you want the loan (how to apply for PMYY loan). After selecting the category, a new page will open. Download the application form from here and take a printout of it.

These documents will be required -

After this, you will have to provide proof of your permanent and business address including your Aadhar card, and PAN card. Apart from this, you will have to attach your income tax return, a copy of your sales tax return, and a passport-size photo with the form. In this way, after completing all the documents (PMMY loan documents), submit this application form to the nearest bank. This application form will be verified by the bank. After this, the loan amount will be received in 1 month.

What to do for online application -

To take advantage of PMYY, you can also apply online (how to apply for PMMY loan). For this, you will first have to create a username and password. After this is created, you will have to log in to the mudra loan website. Then you can apply for the loan by completing the step by step process. In this, the work from applying for the loan to verification and getting the loan amount (PMMY loan amount) is done online only.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.