PM Mudra Loan Scheme: If you are thinking of doing any business. You have a shortage of money. In such a situation, you do not need to worry. For this, the government started the PM Mudra Scheme. Under this scheme, the government gives loans up to Rs 10 lakh to the economically weaker people. Any citizen of the country can apply for this scheme. The purpose of the government to start this scheme is to encourage people for business.
Let us know about it in detail. PM Mudra Scheme was started in the year 2015. In such a situation, if you are thinking of starting a business, you can apply for a loan through this scheme. Let us tell you that under this scheme, a loan of up to Rs 10 lakh was given by the government. But now this amount has been increased to double.
Know who will get the loan?
Let us tell you that the government has fixed three categories in this. It includes Shishu loan, second Kishor loan and third Tarun loan. In Shishu loan, you get a loan of up to Rs 50 thousand. After this, in the Kishor loan category, you get a loan of 50 thousand to 5 lakhs. At the same time, in the Tarun loan category, you get a loan of 5 lakhs to 20 lakhs.
How much interest is charged on the loan
At the same time, if you apply for a loan under the PM Shishu Mudra Scheme, you do not need a guarantor. Thus, you do not have to pay the process fee while taking a loan. In this, the interest rate is decided based on the bank. The interest can be from 9 per cent to 12 per cent.
Who can apply?
Let us tell you that any person above 18 years of age can apply in PM Mudra Scheme. Apart from this, the applicant must have a bank. To take a loan, one must have an account in the bank. Remember that the business for which you are taking a loan should not be associated with a corporate entity.
What documents are required?
In this scheme, an Aadhar card, PAN card, residence certificate, passport size photo, business plan, KYC documents, income certificate, etc., are required.
Where can you apply?
To receive PM Mudra Yojana’s benefits, you have to go to the bank and apply. Apart from this, you can apply online. For more information, you have to visit https://www.mudra.org.in/.
