Home सरकारी योजना Pradhan Mantri Mudra Yojana Will Make Youth Self-Reliant, in this way they will get loan up to Rs 10 lakh without security

Pradhan Mantri Mudra Yojana Will Make Youth Self-Reliant, in this way they will get loan up to Rs 10 lakh without security

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Pradhan Mantri Mudra Yojana 2024

Pradhan Mantri Mudra Yojana Will Make Youth Self-Reliant, in this way they will get loan up to Rs 10 lakh without security

highlights

  • What is Pradhan Mantri Mudra Yojana
  • How to get loan under this scheme
  • Eligibility for PMMY
  • What are the benefits of PMMY?

National Youth Day 2024: Every year today i.e. 12th January is celebrated as National Youth Day on the occasion of the birth anniversary of Swami Vivekananda. The future of any country is in the hands of its youth. If youth use their strengths and abilities properly, there is nothing in life that they cannot achieve.

The Government of India is running many schemes to make the youth empowered and self-reliant. Today, on the occasion of National Youth Day, let us know about one of these schemes, Pradhan Mantri Mudra Yojana…

What is Pradhan Mantri Mudra Yojana?

Pradhan Mantri Mudra Yojana (PMMY) Youth who are unemployed and want to start their own employment or small businessmen who want to further expand their employment are given loans up to Rs 10 lakh under this scheme. This scheme was started in the year 2015. Under this, loans can be taken for non-corporate and non-agricultural purposes. PM Mudra Loan Scheme is collateral free, that is, through this scheme you get a loan in which no security has to be given.

How to get loan?

Under this scheme, loans are available in three categories. If you want to take a loan through PMMY, then you can apply for loan in any government-private banks, regional rural banks, small finance banks, non-financial companies. The limit of loan amount has been made according to the category.

  • Shishu Loan- In this category, financial assistance up to Rs 50 thousand is provided.
  • Kishore Loan- Loan up to Rs 5 lakh is given under this category.
  • Tarun Loan- In this category, an amount up to Rs 10 lakh is provided as loan.

Eligibility for PMMY

Under this scheme, any person who wants to start his own business can apply for a loan. If you want to expand your existing business, you can also apply for a loan. To apply for a loan, it is mandatory to fulfill some important conditions.

  • The person applying for the loan must be a citizen of India.
  • The person applying should not have any bank default history.
  • Any business for which Mudra loan is to be taken should not be a corporate entity.
  • The person applying for loan must have a bank account.
  • The age of the person applying for loan should be at least 18 years.

What are the benefits of PMMY?

Through this scheme, you can take a loan ranging from Rs 50 thousand to Rs 10 lakh as per your need. The loan is collateral free and there is no processing fee on it.

  • The total repayment period of the loan available under this scheme ranges from 12 months to 5 years. But if you are not able to repay it within 5 years, then you can extend its tenure for 5 more years.
  • Interest is not charged on the entire amount of the loan you get. Interest is charged only on the amount which you have withdrawn and spent through Mudra Card.
  • Those doing business in partnership can also take loan through Mudra Yojana. In this, loans are available in three categories. Interest rates vary according to category.

How to apply?

  • Visit the official website of Mudra Yojana, mudra.org.in.
  • Three types of loans – Shishu, Kishore and Tarun – will appear on the home page, choose the category as per your choice.
  • A new page will open, download the application form from here and take a print out of the form.
  • Fill the application form correctly. In the form, photocopies of some documents will be asked like Aadhar Card, PAN Card, proof of permanent and business address, copy of Income
  • Tax Return and Self Tax Return and attach passport size photo etc.
  • Submit this application form to your nearest bank. The bank will verify your application and the loan will be allotted within 1 month.
  • To apply online, you will have to create a user name and password. With its help you will be able to login to the Mudra Loan website. This is where you can apply online.

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