PM Mudra Yojana: Every person wants to have a stable income source so that they can live easily. In such a situation, everyone wants to start a business. However, he cannot do so due to his lack of money.
Keeping this severe concern in mind, the government has developed a unique scheme for all those who want to start their own business.
This scheme has been named PM Mudra Yojana, under which now people are quickly given a loan of up to Rs 10 lakh. This loan is provided for particular purposes, such as non-corporate or non-agricultural business.
What is Pm Mudra Yojana
The central government gave the people the green signal to this scheme in 2015 after the 2014 elections.
If you want to start your own business, you can easily apply for a loan of up to Rs 10 lakh under this scheme. You will be happy to know that, keeping in mind the 2024 elections, the government has made some significant changes to it.
The government has now doubled the loan limit under the PM Mudra scheme, meaning you have become eligible to take more loans.
How much loan can you take?
Some criteria have been made for taking a PM Mudra loan, which you can apply for. First comes the Shishu loan, under which you can take up to Rs 50000 to start your business, for which you do not have to give any guarantee.
The second is known as the Kishor loan. Under this loan, you can apply for up to Rs 5 lakh while discussing the third category, the Tarun loan. Under this, you can quickly get a loan from Rs 5 lakh to Rs 20 lakh and start your own business.
How much interest will have to be paid?
If you have to take a loan to start a business and take a Shishu loan under Mudra Loan, you will get a loan of up to 50000, for which you do not have to give any guarantee. For this, you have to pay 9 to 12 per cent interest. It is worth noting that there may be differences in the interests of different banks.
For what type of business loan is available
Under PM Mudra Loan, you quickly get a loan from the government for small businesses, fruits, food processing, etc.
Can a well take a loan?
To take PM Mudra Loan, you may have to follow some rules. The most crucial thing is that you must be 18 years of age and a citizen of India. You should not have any bank defaulters. Before taking a loan, ensure your bank account is open.
Know what the necessary documents are.
Pan card
Aadhaar card
Residence certificate
Passport size photo
Business plan
KYC document
Income proof
How to apply for a loan
If you want a PM Mudra loan for your business, you can apply by going to your nearest bank. Apart from this, you can also apply through online. If you want more information, you can visit the official website.