Loan Tips: To start a business, you can get a loan of Rs 10 lakh from this government scheme...

A scheme has been launched by the government in which you will be given a loan ranging from Rs 50 thousand to Rs 10 lakh. Pradhan Mantri Mudra Yojana (PMMY) was launched on April 08, 2015.

The scheme was started in 2015-
A scheme has been launched by the government in which you will be given a loan ranging from Rs 50 thousand to Rs 10 lakh. Pradhan Mantri Mudra Yojana (PMMY) was launched on April 08, 2015.

Collateral loan is available from the government-
To take a loan through Pradhan Mantri Mudra Yojana (PMMY), you do not have to give any kind of security, in this scheme you get a collateral-free loan from the government.

Loans ranging from Rs 50 thousand to Rs 10 lakh will be available-
The benefit of this scheme is that loans are given for non-corporate and non-agricultural purposes. In which you are given a loan ranging from Rs 50 thousand to Rs 10 lakh.

The loan is given in three categories-
Shishu Loan- In this type of loan, you are given help up to Rs 50 thousand. Kishore Loan- In this type of loan, you are given a loan of up to Rs 5 lakh. Tarun Loan- In this, an amount of up to Rs 10 lakh is given as a loan.

Who can apply for this loan-
If you want to apply for this loan then you must be a citizen of India. Along with this, you should not have any bank default history. If you want to apply for a loan then you must have a bank account. Along with this, the age of those applying for a loan should be more than 18 years.

Benefits of Pradhan Mantri Mudra Yojana (PMMY)-
Through this scheme, you can take a loan ranging from Rs 50 thousand to Rs 10 lakh. There is no processing fee of any kind for this loan. The payment period of this loan ranges from 12 months to 5 years, if you are not able to repay the loan within 5 years then you can easily extend its period. No interest is charged on this loan.

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