PM Mudra Loan Yojana: Get a loan of up to 10 lakh rupees under the Pradhan Mantri Mudra Loan Yojana.
Pradhan Mantri Mudra Loan Scheme was launched by the Hon’ble Prime Minister on 8th April 2015 with the objective of providing financial assistance. Under this scheme, assistance up to Rs 10 lakh is provided for small scale industries, cottage industries, non-government businesses and non-agricultural activities.
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To get a loan under Pradhan Mantri Mudra Loan Yojana, the loan applicant does not need any kind of collateral, in this the government provides the loan amount without any collateral. Today’s article provides complete information about Pradhan Mantri Mudra Loan Yojana.
Pradhan Mantri Mudra Loan
Pradhan Mantri Mudra Loan Yojana was launched by the Central Government for promotion and development of business. Under this, a loan of up to 10 lakh rupees is given for a maximum of 5 years. There are three types of loans provided by the government under the Pradhan Mantri Mudra Loan Yojana which are as follows-
Shishu Mudra Loan
Kishore Mudra Loan
Tarun Mudra Loan
Shishu Mudra Loan
Under this scheme, we can easily get up to 50 thousand rupees without any collateral. You can apply for a loan under Pradhan Mantri Mudra Loan Yojana to start your business or to expand your already running small business. In this you are given loan amount for 60 months. Under the Shishu Mudra Loan Scheme, you can apply for starting a new business or expanding a small business.
Kishore Mudra Loan
Under the Kishore Mudra Loan Scheme, an amount ranging from Rs 50 thousand to Rs 5 lakh is made available for the expansion of middle class businesses for 5 years without any collateral. You can easily get a loan for your business expansion by applying for Kishore Mudra Loan Yojana.
Tarun Mudra Loan
Under the Tarun Mudra Loan Yojana, loans up to Rs 10 lakh are provided to large businesses or entrepreneurs for expanding their business. You can also get a loan without any collateral by applying under the government-run Tarun Mudra Loan Yojana for further expansion of your business.
The government also provides subsidy facility on all these loans provided by the government. All of you can avail the financial assistance as per your requirement by applying for any of these Mudra Loans.
PM Mudra Loan Interest Rate
Many banks give us loans under Pradhan Mantri Mudra Loan Yojana. The interest rates of all these banks may vary. Generally, Pradhan Mantri Mudra Loans are made available at an interest rate of 10 to 12%. The interest rate may vary depending on the loan amount.
To apply for Pradhan Mantri Mudra Loan Yojana, you will need some important documents, information about which is given in the list below.
Required Documents
Aadhaar Card
PAN Card
Bank Account Passbook
Basic Address Proof
Income Certificate
Passport Size Color Photo
Caste Certificate
Occupation Certificate
Applicant Identity Card
Mobile Number and Email ID
Also avail the benefits of Pradhan Mantri Mudra Loan Yojana
Apply PM Mudra Loan Yojana
First go to the bank or private institution from where you want to take the loan.
Now talk to the vehicle loan officer and get the PM Mudra Loan Yojana application form.
Enter all the information asked in this application form and attach photocopies of the required documents.
Now submit this PM Mudra Loan Yojana application form to the concerned loan officer.
The application form will be approved after the loan officer checks all your documents.
Once the application form is approved, the loan amount will be transferred to your bank account.