Are you thinking of starting a business? Don't have the funds to invest in it? Do you go to banks and ask for any document or guarantee from a government employee?
Such things or unable to move forward? But this article is for you. Central Government of India has introduced a wonderful scheme for people like you. It provides loans at low interest rates to start-up small businesses. That too without any guarantees or processing charges. The name of this central government scheme is Pradhan Mantri Mudra Yojana. For those applying Rs. 50,000 to Rs. Provides loan up to 10 lakhs. Now let's see the complete details of this scheme.
This is mudra loan..
The central government keeps coming up with various schemes for different communities. One of them is Pradhan Mantri Mudra Yojana. Through this scheme you can get a loan of up to Rs.10 lakh without any collateral. If you are also thinking of starting your own business, you can apply for this scheme. The scheme was launched by the central government in 2015. Under this scheme, the government gives loans from Rs.50 thousand to Rs.10 lakh without any collateral. You don't need to pay any processing fee in this loan. Apart from public sector banks, these individuals can also avail this loan from cooperative banks, regional rural banks (RRBs), small finance banks and NBFCs. But the interest rate on this loan varies from bank to bank. Usually banks charge 10 to 12 percent interest rate on this loan.
Mudra loans are of three types.
There are three types of PM Mudra loans.
The first category is infant loan. Under this, when you start your business for the first time, the government will give you Rs. 50,000 as loan. People who are already doing business also give loans to expand their business.
You will pay Rs. 50,000 to Rs. Borrowing up to 5 lakhs, it comes under Kishore loan category.
Under the Tarun Loan category, the government provides loans ranging from Rs.5 to Rs.10 lakhs for business expansion.
Mudra loan application is like this..
In this scheme, any Indian citizen between the age of 24 to 70 years can apply. Aadhaar, PAN Card, Passport, Address Proof etc. will be required along with the loan application. To apply for this scheme one has to visit the official website mudra.org.in and download the form..then fill up the form..submit to your nearest govt or private bank the bank will approve your loan after checking all the documents.
0 Comments