He government gives Rs. Want to take a loan of Rs 50,000 to Rs 10 lakh? Learn full details
Provision for loans to micro units by banks or financial institutions for income generation and non-agricultural activities up to Rs. 10 lakhs. This scheme has been launched by Hon’ble Prime Minister
The Prime Minister’s Mudra Yojana has been
1 Benefits of Mudra Yojana:
General according to this scheme
Under this scheme common man can apply for loan without guarantee.
There is no process fee for this loan.
The repayment period in this scheme is extended to 3 years.
Working This Working Capital Loan can be given through Mudra Card.
Products offered under Mudra Yojana are classified under 3 loan schemes named as Shishu, Kishor and Tarun. Below mentioned is the loan amount offered under each loan scheme:
- SHISHU Loan: Loans up to Rs. 50,000 (For start-ups and new businesses)
- KISHOR Loan: Loans from Rs. 50,001 to Rs. 5,00,000 (For buying equipment/machinery, raw materials, business expansion for existing enterprises)
- TARUN Loan: Loans from Rs. 500,001 to Rs. 10,00,000 (For established businesses and enterprises)
Pradhan Mantri Avas Yojana Draw List Dated 31 August 2020
Who can apply for this type of loan?
Any Indian citizen or firm (excluding agriculture) who wants to start a new business or expand an existing business and has a financial requirement of Rs 10 lakh can apply for a loan under this scheme.
2 .Types of Currency Loans:
3 .Mudra Bank Loan Interest Rate:
4.How to apply for a currency loan?Gather information and choose the right ban
There is no set procedure for applying for a loan as per Mudra Yojana. For this, the applicant has to collect complete information about the loan process as well as interest rate in the nearby bank. In addition to applying for a loan, one has to submit an application form as well as certain documents.5..What documents are required for this loan?
For this loan the bank can ask for different types of Kagalua which are as follows. Al separate documents such as Balance Sheet, Income Tax Returns and information about your current business. From all these papers the bank wants to guess whether you are able to repay the loan or not! They will also try to find out how much risk there is in your business so that they know if their money will be safe or not.
The bank will also try to get complete information about your Business Plan, Project Report, Future Income Estimates so that the people can know how to use their loan and how to take profit from it. It will also try to find out what the business will do next.