Pradhan Mantri Mudra Yojana (PMMY) : What is PM Mudra Loan Scheme? : Under the Pradhan Mantri Mudra Loan Yojana (PM Mudra Loan), all individuals and small to medium entrepreneurs can take a loan. Anyone can start a business by taking a loan under this scheme. This is an initiative launched by the central government. In this scheme, not only loans are given, but businesses are also started with those loans.
Pradhan Mantri Mudra Yojana (PMMY)
This Loan scheme’s motive is to provide a loan facility of up to 10 lakh rs to the small business industry. These loans providing by some Commercial Banks, Small Finance Banks, MFIs, and NBFCs. Recently Punjab National Bank. Under this scheme, eligible persons or businesses get up to 10 lakhs loan without a guarantee.
There is 3 loan plan available under Mudra Business Loan.
Child Loan – For this scheme, you get a loan of up to Rs. 50,000.
Kishor Loan- The loan amount under this scheme is from Rs 50,000 to Rs 5 lakh.
Tarun Loan- Under this scheme you will get a loan of Rs 5 lakh to Rs 10 lakh
The government has announced a loan of up to Rs 10 lakh for starting a small business or expanding an old business. Let me tell you, you will get this 10 lakh rupee as a loan, the name of this scheme of the government is (PMMY Scheme) PM Mudra loan scheme.
What is the benefit of Pradhan Mantri Mudra Yojana (PMMY)
Loans are available under Mudra Yojana without any guarantee. In addition, there is no processing charge for the loan. Mudra Yojana loan repayment period can be extended up to 5 years.
List of documents For Mudra Loan
- Identity Card – Aadhaar Card, PAN Card, Election Card, Driving License, Passport.
- Current Passport Size Photo.
- SC/ST/OBC certificate
- Resident Proof – Light Bill, Property Tax Receipt, Aadhar Card, Telephone Bill.
- Proof of identity, business enterprises
How To Apply Pradhan Mantri Mudra Yojana (PMMY)
- To apply PM Mudra Loan Follow Given Below Step Carefully.
- First Download PM Mudra Loan Application Form. This form is different according to loan plans so first choose which mudra Loan plan you need.
- Now Fill this form with all the correct details and confirm all information.
- Submit this form in your nearest bank branch don’t forget to Attach all required mudra loan documents.
- Now the bank will do the loan process from their side and inform you when your mudra loan is approved.
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