india employmentnews

Want to start your own business by leaving the hassle of a job, the government will give loans up to 10 lakhs, and know how to apply.

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LOAN

The government has started PM Mudra Yojana to promote self-employment. If you want to start your own business, then through this scheme you can arrange up to 10 lakh rupees for your business.

Many people want to get rid of the hassle of job and start their own business, but due to lack of funds, they are unable to start the business. This problem of yours can be solved by the government's PM Mudra Yojana. The government started this scheme with the aim of promoting self-employment. Under this scheme, collateral free loan of up to Rs 10 lakh can be taken. However, this loan is given for non-corporate and non-agricultural works. If you want to start such a business, then through this scheme of the government, you can fulfill your need of money and start your own work. Know the special things related to this scheme.

What is the eligibility?

The person applying for the loan should be a citizen of India.

The person applying should not have a bank default history.

The business for which Mudra loan is to be taken should not be a corporate institution.

The person applying for the loan must have a bank account.

The age of the person applying for the loan should be more than 18 years.

Loan is available in three categories

If you want to take a loan through Pradhan Mantri Mudra Yojana, then you can apply for a loan in any government-private bank along with regional rural bank, small finance bank, non-financial company. Limits of loan amount have been made according to the category-

Shishu Loan - In this, financial assistance of up to Rs 50 thousand is given. Kishor Loan- In this, a loan of up to 5 lakhs is given.
Tarun Loan- In this, an amount of up to 10 lakh rupees is given as a loan.
Benefits of PMMY

- Through Pradhan Mantri Mudra Yojana, you can take a loan of 50 thousand rupees to 10 lakhs according to your need. The loan is collateral free, and there is no processing fee on it.

- The total period of repayment of the loan received under this scheme is from 12 months to 5 years. But if you are unable to repay it in 5 years, then its period can be extended by 5 years.

- Another good thing about this loan is that you do not have to pay interest on the entire amount of the loan approved. Interest is charged only on the amount that you have withdrawn and spent through the Mudra card.

- If you are doing any business in partnership, then also you can take a loan through Mudra Yojana. In this, you get loan in three categories. The interest rate varies according to the category.

How to apply

First of all go to the official website of Mudra Yojana, mudra.org.in.

The home page will open on which three types of loans will be written about Shishu, Kishor and Tarun, you choose the category according to you.

A new page will open from here you will have to download the application form, take a print of this application form.

Fill the application form correctly, photocopies of some documents will be asked in the form like Aadhar card, PAN card, proof of permanent and business address, copy of income tax return and self tax return and attach passport size photo etc.

Submit this application form to your nearest bank. The bank will verify your application and the loan will be given within 1 month.

To apply online, you will have to create a user name and password. With its help, you will login to the Mudra loan website. You can apply online here.