PM Mudra Yojana: Government is Offering Rs 10 Lakhs to Start Your Own Business in New Year 2022

Pradhan Mantri Mudra Yojana Application Form Online: Due to the Coronavirus pandemic, the business of many people in the country has been affected badly. At the same time, the income of employed people has come down. In such a situation, if you want to start your own business, then this news can be very beneficial for you.  

In today's era, there are many people, who want to become an entrepreneur. But they don't have money for this.  Also, there are many government schemes available that can provide you the financial assistance. Pradhan Mantri Mudra Yojana is one of the most successful government schemes. Through this scheme, the government offers loans up to Rs 10 lakh.

Below we have mentioned complete details of the scheme:

Features of Pradhan Mantri Mudra Loan Scheme

• Under the Pradhan Mantri Mudra Yojana, loans are easily available to small entrepreneurs.

• Its full name is Micro Units Development & Refinancing Agency (MUDRA).

• Under this, the government has already provided a loan of crores of rupees.

How many loans will you get?

Under the Pradhan Mantri Mudra Yojana, the borrowers are divided into 3 categories-

• Shishu: You can get a loan of up to Rs 50,000.

• Kishor: You can get Loans ranging from Rs 50,000 to Rs 5 lakhs.

• Tarun:  You can get Loans ranging from Rs 5 lakh to Rs 10 lakh.

How to Apply For Mudra Loan?

• If you also want to start your own business & want to take advantage of Mudra Yojana, then let us inform you that the process of its application is very easy.

• To take a loan under the Pradhan Mantri Mudra Yojana, firstly you have to contact your nearest bank branch.

• You will have to provide other documents including house ownership or rent documents, work-related information, Aadhar card, PAN number.

How much Interest Rates will be charged?

• There is no fixed interest rate in Pradhan Mantri Mudra Yojana.

• Different banks may charge different interest rates on loans.

• The interest is determined based on the nature of the business and the risk involved in it.

• Banks charge appropriate interest rates according to the guidelines of the Reserve Bank of India (RBI).