If you are in need of funds and want to start a business, you can avail a loan ranging from ₹50,000 to ₹10 lakhs under the PM Mudra Yojana. To apply for this, you will need to submit your application online.
In this article, I will provide you with complete details about this scheme. Make sure to read this article till the end to understand the information thoroughly. For your awareness, the application process for the PM Mudra Loan Scheme began in April 2015, and this portal was launched by the Honorable Prime Minister, Shri Narendra Modi, to make it easier for people to access loans. So, without any further delay, let’s get started!
PM Mudra Loan Overview
Here, we are going to give a quick review of PM Mudra Loan in a tabular form like below:
| Post Name | PM Mudra Loan |
|---|---|
| Post Category | Government Scheme |
| Application Mode | Online |
| Loan Amount | Up to ₹10 lakhs |
| Eligibility | Non-corporate, non-farm small/micro enterprises |
| Loan Categories | – Shishu: Up to ₹50,000 – Kishore: ₹50,000-₹5 lakhs – Tarun: ₹5-10 lakhs |
| Application Process | Through banks, MFIs, NBFCs, etc |
| Purpose | To support micro enterprises in manufacturing, trading, services, etc |
| Official Website | https://www.jansamarth.in/home |
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What is PM Mudra Loan?
Prime Minister Shri Narendra Modi launched the PM Mudra Loan Scheme in April 2015. This scheme has seen significant participation, especially from women. The government aims to support individuals who wish to start their own businesses but need financial assistance. Such individuals can apply for a loan under this scheme to fulfill their business aspirations.
PM Mudra Loan Eligibility
If you want to get benefits of this scheme then you will have to meet the following eligibility criteria:
- The applicant must be an Indian citizen.
- The applicant’s age should not exceed 18 years.
- To benefit from this scheme, you must be a business professional.
Anyone fulfilling all the above criteria is eligible to apply for this scheme.
PM Mudra Loan Documents
Applicants wishing to apply for this scheme must provide the following necessary documents:
- Applicant’s Aadhaar Card
- Applicant’s PAN Card
- Active mobile number
- Email ID
- Residence proof
- Business certificate
- Caste certificate
- Income tax return for the previous year
By ensuring the availability of all these documents, you can proceed to apply for this scheme.
PM Mudra Loan Online Apply
If you are excited to get benefits of this scheme, then you will have to know how to apply PM Mudra Loan online? Don’t worry! Here we are going to step-by-step guide by which you can apply online to avail benefits:
Step 1: First of all, you will have to visit the official website of the PM Mudra Loan Scheme.
Step 2: On the homepage, you will find the “Mudra Loan” option, click on it.
Step 3: After clicking, enter your mobile number and email ID, then click on the “Get OTP” option.
Step 4: Once you receive the OTP, fill in your personal details.
Step 5: After entering the details, click on the “Submit” option.
Step 6: After that you have to upload your bank statement, income tax return copy, and personal details.
Step 7: Finally, click on the “Submit” button.
By following these simple steps, you can easily apply for the scheme from home.
PM Mudra Loan Interest Rate
If you are eager to know, what should you have to pay the interest rate after taking the loan under this scheme, list is the list in a tabular form:
| Category | Interest Rate |
|---|---|
| Shishu | 1% to 12% per annum |
| Kishore | 8.60% to 11.15% per annum |
| Tarun | 11.15% to 20% per annum |
| Click here to apply online for PM Mudra Loan |
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Wrapping Up
In this article I have given you complete information about what PM Mudra Loan is, how it work. During the session we have also told you about the required documents regarding this scheme and also told you the eligibility criteria of this scheme.
I have tried my best to give you complete A to Z information about PM Mudra Loan in this article, but still if any information is missing or if you have any questions in mind related to this article then you can tell me in the comment box. I will quickly try to answer your questions.
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