There is no need to pay interest, you will get a loan of lakhs of rupees in this government scheme, see full details here..

If you are planning to do business or any small business, then the government can help you with this. Not only this, the government gives you a loan without any interest. You can take a loan of up to Rs 20 lakh under this scheme.

We are talking about Pradhan Mantri Mudra Yojana. Let's know about it in detail.

How much loan will be available?

Under Pradhan Mantri Mudra Yojana, the borrower is offered loans in three different categories.

Shishu Category - Under this category, the borrower is offered a loan of up to Rs 50,000.

Kishor Category - Under this category, a loan of Rs 5 lakh to Rs 10 lakh is available.

Tarun Category: Similarly, in this category, a loan of Rs 10 lakh to Rs 20 lakh is available.

Who cannot get the benefit?

If a person is considered a defaulter by the bank. So that person cannot take a loan under this scheme.

A person who lives in India but is not an Indian citizen or is a non-Indian citizen cannot get a loan under PM Mudra Yojana.

The applicant must be 18 years of age to take a loan from the scheme. Along with this, it is mandatory to have an account in any bank. Without this, you cannot get the benefit of the scheme.

To apply for this scheme, it is also necessary for the applicant to have the necessary documents. These include the project report, address of the business you are going to start, copy of ITR file, copy of tax return, Aadhaar card for identity, PAN card and business plan, etc.

How to apply

You can apply in PM Mudra Yojana both online and offline. First, let us understand the process of applying online.

How to apply online

Step 1- First of all, download the application from the site of the bank in which you want to apply for Mudra Yojana.

Step 2- Now fill the information asked in the form and submit the document.

Step 3- Now scan the form and documents and submit it on the bank's website.

Step 4- After this you will get a call from the bank, in which you will be asked to complete some formalities.

Step 5- Finally, after all the documents are verified, the money will be transferred to your bank account.

For offline, you can complete this work by going to any bank or your bank.

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