Categories: Business

Pradhan Mantri Mudra Yojna How to Apply and get loan

Pradhan Mantri Mudra Yojna

new Delhi. If you want to start your business but do not have a guarantor to raise money, then you do not have to worry, under the Pradhan Mantri Mudra Yojana run by the government, you can get a loan of up to 10 lakhs without guarantee. Can lift The scheme started in the year 2015. So far, the government has distributed more than 48 thousand crore rupees of debt.

How can one get loan under the scheme

Three types of loans are being given under the Mudra scheme.

Shishu Mudra Loan Under this, loans up to 50 thousand rupees can be found to start a business.

Kishore Mudra Loan A person can take a loan of up to Rs 5 lakh to set up his existing business.

Tarun Mudra Loan In order to take the business forward, businessmen can take loans up to Rs 10 lakh.

At what interest rate money currency is available

Under the Pradhan Mantri Mudra Yojana, different interest rates have been fixed for different categories. At the same time, rates are also decided based on the level and capacity of the business. The minimum interest rate for a Mudra loan is 12 percent. At the same time, the interest rate up to 16 percent may be required for a Tarun Mudra loan.

Who can take advantage of Mudra loan

Mudra loans are being distributed to help small businesses and institutions. Through the scheme, loans can be availed for proprietorship firms, service sector units, small manufacturing units, shopkeepers, partnership firms, repair shops, fruit vegetable vendors, small industries, hotels, food processing units.

What is the terms of the application

For taking a loan, the monthly income of the applicant should be more than 17 thousand rupees. If there is a businessman applying then it is necessary that his business is 5 years old. If a person wants to start his business, he should have worked for 2 years before starting the business. On the other hand, if the loan is being taken in the name of a business, then its annual business must be Rs 15 lakh.

This post was published on August 25, 2020 3:46 am

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…