Mudra Loan Yojna can be an ideal option for you. It is a special scheme of the Government of India that provides financial assistance to small businesses.
Under this scheme, you can get a loan at a low interest rate, which will help in growing your business.
Benefits of the Mudra Loan Yojna
The Mudra Loan Scheme has many benefits, including:
Low interest rate: Under the Mudra Loan Scheme, you get a loan at a low interest rate, which is beneficial for your business.
Maximum loan amount: Under the Mudra Loan Scheme, you can get a maximum loan of up to ₹10 lakh.
No property mortgage required: You do not need to mortgage any property for the Mudra Loan Scheme.
Fast approval: The loan approval process under the Mudra Loan Scheme is fast.
Flexible repayment: Flexible repayment options are available under the Mudra Loan Scheme.
Eligibility for Mudra Loan Yojna
The eligibility criteria for the Mudra Loan Scheme are as follows:
Being a citizen of India
Being above 18 years of age
Running a small business
Submitting the required documents for setting up the business
How to apply for the Mudra Loan Yojna
You can visit any authorized bank or non-banking financial company (NBFC) to apply for the Mudra Loan Scheme. You will need the following documents:
Aadhaar Card
PAN Card
Business Registration Certificate
Income Certificate
Bank Account Statement
Repayment for Mudra Loan Yojna
The repayment period for the Mudra Loan Scheme can be up to 5 years. The repayment installments can be monthly or quarterly.
Additional Information
There are three categories of loans available under the Mudra Loan Scheme: Shishu, Kishor, and Tarun.
Under the Shishu category, you get a loan of up to ₹50,000.
Under the Kishore category, loans ranging from ₹50,000 to ₹5 lakh are available.
Under the Tarun category, loans ranging from ₹5 lakh to ₹10 lakh are available.
To avail of the Mudra Loan Scheme, you have to submit your business plan.
You can also apply online for the Mudra Loan Yojna.
The Mudra Loan Scheme can help you grow your small business. If you want to avail the benefits of this scheme, complete the application process and submit the required documents.
The Mudra Loan Scheme is an important financial aid for small businesses. Under this scheme, you can get a loan at a low interest rate, which will help grow your business.
If you are running a small business and need funds, then the Mudra Loan Scheme can be a good option for you.