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PM-Mudra Loan Yojna 2024
PM-Mudra Loan Yojna 2024 : In our country, a significant number of individuals wish to set up their own business, but lack of financial means acts as a barrier. This obstacle has been removed by the Prime Minister of India Shri Narendra Modi by implementing the PM Mudra Loan Scheme. With this scheme, any citizen is eligible to get loan under Mudra Yojana for their small business without any hassle.
With the implementation of this initiative, the country’s job market will expand and unemployment levels will decrease. This article is specially designed for those who want to start their own enterprise and generate substantial income. Additionally, we have included helpful links at the end of the article to successfully submit an application for the PM Mudra Loan Program and avail its many benefits.
What is PM Mudra Loan Scheme? (What is PM Mudra Loan Yojana)
PM-Mudra Loan Yojna 2024 has been launched with the aim of helping the citizens of the country . A budget of 3 lakh crore rupees has been allocated by the government for this program. With this scheme, one can avail a loan without worrying about processing fees. The loan tenure is up to five years, giving borrowers enough time to repay the money. Additionally, applicants under this system are provided Mudra cards for easy access to funds.
PM Mudra Loan Yojana 2024
| Name of the scheme | Pradhan Mantri Mudra Loan Scheme |
| Started by | By Prime Minister Narendra Modi |
| Beneficiary | People of the country |
| objective | Give a loan |
| Official website | https://www.mudra.org.in/ |
Objective of PM Mudra Loan Yojana
The PM Mudra Loan Scheme is launched by the Prime Minister to help people who wish to start their own entrepreneurial ventures. The scheme enables provision of hassle-free loans to small businesses on application. By using this plan and setting up a business, one can expect an increase in their standard of living. Amount upto ₹ 1000000 can be availed under this program without any hassle. Additionally, if you need a commercial vehicle, a loan will also be provided for the same.
Types of PM-Mudra Loan Yojna 2024
Allow us to inform you about the three primary categories of Mudra loan programs. The following information will give you more insight.
Shishu Loan – Those who are eligible for this loan can avail up to ₹ 50000 without any hassle and invest in their own small venture as per their wish.
Kishore Loan – With Kishore Loan, you can secure a loan between ₹ 50000 to ₹ 500000 to further your business goals.
Yuvanda Loan – Tarun Loan offers a hassle-free loan facility to beneficiaries for availing an amount between ₹500000 to ₹1000000.
What is Mudra Card? (What is Mudra Card)
PM-Mudra Loan Yojna 2024. Government offers Mudra Card to those eligible for PM Mudra Loan Programme. This card works like a traditional debit card and allows users to easily withdraw cash from ATMs. It can also be used to fulfill any business needs. A password will be provided to access the card, which must be kept secure.
Benefits of PM Mudra Loan Yojana
- To promote entrepreneurship among the citizens of the country, Mudra Loan Scheme has been launched by the Prime Minister.
- Now individuals will not need to seek external funding while setting up their own enterprises.
- Pradhan Mantri Mudra Loan Yojana for Individuals Rs. Making it a hassle-free process to get a loan up to 1000000.
- Once you get the loan, you will have a 5-year period to pay it back.
- The government will issue Mudra cards to borrowers, enabling them to use it as a debit card.
Eligibility of PM-Mudra Loan Yojna 2024
- PM Mudra Loan Scheme is open to everyone who wants to start their business.
- Citizens who are not yet 18 years of age are not eligible for the loan.
- A person with a record of defaulting in the bank will not be given a loan.
Required Documents for PM Mudra Loan Scheme
- aadhar card
- PAN card
- Permanent address of application
- Business address and proof of establishment
- Balance sheet of last three years
- Income Tax Return and Self Tax Return
- Passport size photograph
How to Apply Online under PM Mudra Loan Scheme? (How to Apply Online for PM Mudra Loan Yojana)
- The initial step to avail PM Mudra Loan Scheme is to access the official webpage of the program.
- You will now be presented with the homepage.
- All three variants of Mudra Yojana can be located at the bottom of the homepage.
- You have to select the loan you want to apply for by clicking on it.
- After completing the previous step, you will be presented with the next page. This page will display a download button which, when clicked, will start the download process on your mobile device.
- To proceed, you will need to obtain a hard copy of the document.
- Once you reach this stage it is necessary to diligently fill all the required details in the form.
- Once you have filled all the information then attach the required documents with the form.
- Go to your nearest bank and submit this application form.
- You can expect to receive the loan funds within a month after submitting the application form.
How to Apply Offline under PM Mudra Loan Scheme? (How to Apply Offline For PM Mudra Loan Yojana)
- Before applying for offline services, make sure to visit your nearest bank.
- Retrieve the PM Mudra Loan Scheme application form by visiting your local bank.
- Once done make sure to diligently enter all the required details in the application form.
- Make sure that the application form is accompanied by all the required documents.
- Hand over the duly completed application form to the authorized personnel at the banking institution.
- You can expect to receive the loan funds within a month.
Important Links
| Official website | Click here |
| home page | Click here |