Pradhan Mantri Mudra Loan Yojana Details Online
- PM Mudra Loan Yojana 2019 Types
- Benefits of PM Mudra Loan Yojana
- Eligibility for PM Mudra Loan Yojana
- Required Documents for Pradhan Mantri Mudra Loan Yojana
- How to apply for Pradhan Mantri Mudra Loan Yojana 2019
Pradhan Mantri Mudra Loan Yojana for the year 2019 is a Prime Minister’s Money Loan Scheme initialized by Central Government. Under Pradhan Mantri Mudra Loan Yojana, those people who want to start their business or want to move their business forward will get an loan amount of Rupees 10 lakhs. This Loan scheme has been classified into three laps first one is Shishu loan, other is Kishore loan and last one is Tarun loan.
Pradhan Mantri Mudra Loan Yojana benefits will be available to the person who wants to improve their industry. The central government had made the yojana in the way that to take the mudra loan there is no need to take the guarantee and a 5 year period has been extended to pay the money loan. Mudra Loan Yojana has covered 18.87 crore beneficiaries till March 2019 and so far 9.27 lakh crores has been allocated for the implementation of this scheme. Currency lenders are provided by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. There is a opportunity to take the mudra loan from different banks and these different banks are charging different interest rates with a maximum of 12% interest.
Many talented people could not start there business due to lack of capital amount PM Mudra Loan Yojana can make those people’s dreams come true. As mentioned earlier this yojana is classified into three categories of Shishu, Kishore and Tarun. The main objective of this scheme is that the Central Government wants to empower the Small and Medium entrepreneurs of the country and they want to provide financial assistance to start their own business venture. To avail the benefits of this scheme there is no need to produce guarantee to the banks and there can easily complete all the formalities to get a beneficiary loan amount of up to Rs. 10 lakhs under PM Mudra Loan Yojana.
PM Mudra Loan Yojana 2019 Types
- Loan amount of up to Rupees 50 thousand will be given under Shishu loan.
- Loan amount from Rupees 50 thousand to Rupees 5 Lakhs under Kishore Loan
- Loan amount from Rupees 5 lakh to Rupees 10 lakh will be given under Tarun loan.
Benefits of PM Mudra Loan Yojana
- People can start their business or move their business forward by getting the loan amount of up to Rupees 10 lakhs.
- To take the mudra loan there is no need to take the guarantee and a 5 year period has been extended to pay the money loan.
- There is a opportunity to take the mudra loan from different banks with different interest rates with a maximum of 12% interest.
- It provides working capital facility as a cash credit management.
- MUDRA Card can be operated across the country for withdrawal of cash from any ATM and make payment through any ‘Point of Sale’ machines.
- The main objective of this scheme is to empower the Small and Medium entrepreneurs of the country by providing financial assistance to start their own business.
Eligibility for PM Mudra Loan Yojana
- Applicant must be a citizen of India.
- The applicant age must be 18 years and above.
- Both Male and Female are eligible to apply for this Mudra Loan yojana.
- Small and Medium entrepreneurs are eligible.
Required Documents for Pradhan Mantri Mudra Loan Yojana
- 2 passport size color photographs.
- Identity proof (Aadhaar card, Driving license, Voter ID)
- Proof of address
- Income Certificate
- Bank statement of last 6 months
How to apply for Pradhan Mantri Mudra Loan Yojana 2019
Interested citizens can apply for Pradhan Mantri Mudra Loan Yojana through online or offline mode
- Citizen can reach any Commercial Bank, RRB, Small Finance Bank, MFI or NBFC to get the application for to apply in offline mode.
- To make Online Application go through the portal www.udyamimitra.in and click on apply online.
- Fill up the Application with required and mandatory details.
- Check the different banks interest rates and apply accordingly to the concerned bank
- Attest the Required documents along with the application form and submit it.
- The concerned bank will verify your documents within a month than the loan will be transferred to your bank account according to your industry.
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