PM Loan Scheme 2024: The Prime Minister’s Mudra Loan Scheme is providing financial assistance to beneficiaries in India who wish to start a new business or expand their existing business. The scheme is available to all Indian citizens through any bank authorized by the Indian government. If you want to avail assistance ranging from ₹50,000 to ₹10 lakh, here is the detailed information about the PM Mudra Loan Scheme 2024, including how to apply online and the required eligibility criteria and documents.
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PM Loan Scheme 2024: PM Mudra Loan Yojana
The government has been emphasizing local startups and business establishment since 2015, fostering the development of small and medium-sized enterprises in India. The PM Mudra Loan, initiated in 2015, is still being implemented by various banks and financial institutions. The loan categories are divided into Shishu Mudra Loan, Kishor Mudra Loan, and Tarun Mudra Loan. Shishu Mudra Loan provides loans up to ₹50,000, Kishor Mudra Loan offers loans up to ₹5 lakh for business development, and Tarun Mudra Loan extends loans up to ₹10 lakh. If you are interested in obtaining a loan for your business, you can apply under this scheme. The online registration process and quick links for online application are provided below.
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Prime Minister’s Mudra Loan Scheme Benefits and Features
- The scheme aims to provide easy and accessible loans to new entrepreneurs and small business owners.
- It offers loans to small businesses and entrepreneurs without the need for extensive processes and guarantees.
- The Mudra Loan Scheme has three categories: Shishu, Kishor, and Tarun, catering to different loan amounts for each category.
- The government, through this scheme, is making efforts to promote entrepreneurship and support the growth of small businesses at the local level, thereby contributing to employment generation.
- No collateral is required for this loan, allowing individuals starting new businesses to be independent.
- The interest rates for loans under this scheme are relatively low, making it easier for borrowers to repay the loans.
- This scheme is PM Loan Scheme 2024, which has been started by the Government of India to provide financial assistance to those starting new business.
Eligibility Criteria for PM Mudra Loan Scheme -www.udyamimitra.in mudra loan apply online
- The applicant must be a resident of India.
- The individual should possess skills and experience in the chosen business or industry.
- A valid bank account is required for the loan application.
- For Shishu category: The applicant should have invested at least 10% of the total loan amount in their business, and the loan amount should be up to ₹50,000.
- For Kishor category: The applicant should have invested between 10% and 20% of the total loan amount in their business, and the loan amount should be up to ₹5 lakh.
- For Tarun category: The applicant should have invested between 20% and 25% of the total loan amount in their business, and the loan amount should be up to ₹10 lakh.
Documents Required for PM Mudra Loan Scheme:
- Aadhaar Card
- PAN Card
- Business registration or details on the Udyam Portal
- Address proof
- Mobile number, etc.
How to Apply for PM Mudra Loan Scheme Online: PM Loan Scheme Online Apply
If you want to get a loan under PM Loan Scheme, then you can get it under PM Mudra Loan Scheme for which you have to apply online or offline. The online process is as follows:
- Visit the official Udyam Mitra portal https://udyamimitra.in/ .
- Click on the option for the Mudra Loan Scheme.
- You will be redirected to the Mudra Loan registration page.
- Fill in the required information, including business-related details and necessary documents.
- Submit the application after ensuring all details are accurate.
In this way your online application for loan under PM Loan Scheme will be successful.
For your information, let us tell you that to get a loan under PM Mudra Loan Scheme, you can also apply offline by going to any bank or financial institution and applying offline.
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