Bank Loan: This bank is giving loan of Rs 10 lakh to people between 24 to 70 years of age without any guarantee...
The central government keeps coming up with various schemes for different sections. We are going to give you information about one of those schemes. People often need a lot of money to start their own business. In such situations, people turn to banks, but sometimes this becomes difficult due to the requirement for more documents.
In such a situation, to promote business in the country, the Central Government has started Pradhan Mantri Mudra Yojana. Through this scheme, you can get a loan of up to Rs 10 lakh without any guarantee. If you are also thinking of starting your own business then you can apply for this scheme. We are telling you about its details.
Loan of Rs 10 lakh is available without any guarantee-
The central government started this scheme in the year 2015. Under this scheme, the government has to give loans ranging from Rs 50,000 to Rs 10 lakh without any guarantee. You do not have to pay any processing fee for this loan. Apart from public sector banks, these people can also get this loan from cooperative banks, regional rural banks (RRBs), small finance banks, and NBFCs. The interest rate of this loan varies from different banks. Generally, banks charge a 10 to 12 percent interest rate on this loan.
There are three types of loans-
There are a total of three types of PM Mudra Loan. The first category is Shishu Loan. Under this, when you start your business for the first time, the government gives you a loan of up to Rs 50,000 for 5 years without any guarantee. People already doing business are also given loans to expand their business. If you take a loan ranging from Rs 50,000 to Rs 5 lakh, then it comes under the category of Kishore Loan. Under the Tarun Loan category, the government gives loans ranging from Rs 5 to Rs 10 lakh to expand the business.
Apply for a loan like this-
In this scheme, any Indian citizen whose age is between 24 to 70 years can apply. Through loan application, you will need Aadhar, PAN card, passport, address proof, etc. To apply for this scheme, go to the official website of mudra.org.in and download the form. Then enter all the information in the form and submit it to your nearest government or private bank. The bank will approve your loan after looking at all the documents.
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