Mudra loan Scheme: Do you want to start a new business and are short of money? If you want to start a new business, start a new job and do not have enough capital to work, then you do not need to panic. To fulfill this dream of yours, the Government of India has brought Mudra loan Scheme.
This scheme is a boon for those hardworking entrepreneurs who want to start their new business or those who already have a business and want to take their business to new heights. Want to expand their business.
How much money will be available in Mudra loan Scheme
Those people can take a loan of minimum ₹ 50,000 to ₹ 20 lakh in Mudra Yojana. This is a government scheme and the biggest advantage of taking a loan in this scheme is that here you can get collateral free loan. That is, if you want to take a loan and you do not have any security to give, or anything to pledge, then you can take a loan without guarantee under the Mudra scheme.
Apart from this, it is a government scheme, so you can get a loan at the lowest interest rate in it and along with this, it also has an advantage that if you take a loan in it, then you do not have to pay any processing fee or any extra charges etc.
That is, if you take a loan from a bank or a financial institution, then there are processing fees and many types of charges. They are levied. But in the Mudra scheme, if you take a loan of up to ₹ 5 lakh, then you do not have to pay any processing fee etc. Today we will know the Mudra scheme in detail.
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If you want to take a loan for business and want to know about the Mudra scheme, then here you will get a lot of valuable information. You stay with us till the end of this article and if you have not saved the website, then save the website now.
To know the Mudra scheme in detail, we will discuss the information topic wise so that no information is missed and you can easily understand the information. So the first topic is what is PM Mudra Yojana and how much loan is available in it? So PM Mudra Yojana is a scheme of the central government, in which you get a loan to do business.
Mudra loan Scheme start
This scheme was started in the year 2015 and in this scheme, people of all the states of India who are eligible persons can apply and take a loan. In this scheme, you get a loan to do business. If you want to start a new business or want to expand an existing business, then you can take a loan under this scheme. In this scheme, you can get a loan from a minimum of ₹ 50,000 to ₹ 20 lakh.
This scheme has been divided into different categories based on the loan amount. This scheme has been divided into four categories: Shishu category, Kishor category, Tarun category and Tarun Plus category. If you want to start a small business and need a small loan, you get a loan of up to ₹50,000 in the Shishu category. If you need a loan of up to ₹5 lakh, you get a loan of up to ₹5 lakh in the Kishor category.
Who can take Mudra loan scheme
If you already have a business and need more loan to expand your business. If you need more than 5 lakhs, then you can get a loan of up to ₹ 10 lakh in Tarun category. If you have already taken a loan in Tarun category and you have repaid that loan and you need more loan, you need more loan, then you can take a maximum loan of up to ₹ 20 lakh in Tarun Plus category.
After this, the second topic is that for what type of business loan is available under Mudra scheme. That is, for what type of business can you take loan in this. So this is a business loan. You must have understood this. Here you can take loan for production business, you can take loan for service sector business. Apart from this, if you do trade etc. then you can take loan for that.
Along with this, you can also take loan under this scheme for allied or agriculture business. Let us explain this. First of all, if you produce something like you have a cloth production business, you make any plastic goods, you have a food production business, then you can take loan under Mudra Yojana for this type of business. Apart from this, you can take loan for service sector business.
Service sector means you are providing some service. Like if you have a motorcycle repair business, bicycle repair business, motorcycle repair business or you have a tailoring business or a beauty parlor, salon business or a gym. There is any service related business of this type, there is a transport business. You can take loan under Mudra Yojana for this type of business.
Apart from this, you can also take loan for business. That is, if you buy any item and sell it, if you have any such business, then you can also take loan under Mudra Yojana for that. Apart from this, you can also take loan under Mudra Yojana for allied agriculture business. Allied agriculture means if you do any business related to agriculture like if you have a poultry business, goat farming business, dairy farming business.
What does Mudra loan scheme provide for
Apart from this, if you have any farming business, you can also take loan under Mudra Yojana for such agriculture related businesses. Here you have to keep in mind that you do not get loan for agriculture. Like if we sow paddy etc. in agriculture, then you will not get loan for that. For that you can take loan under any other scheme like NABARD etc.
But there are businesses related to agriculture like dairy farming etc., goat farming etc., piggery farming etc. You can take loan for this type of business. Now you must have understood how much loan is available and for what type of business loan is available. Now this question will also be in your mind that how much interest will be charged on the loan.
So how much interest will be charged? It depends on different banks. The interest rate of different banks is different. Along with this, it depends on your CIBIL score, how is your CIBIL score. First of all, you also have to keep in mind that if you are applying for a loan under Mudra Yojana, then you should not be a defaulter. If you are a defaulter, then you do not get a loan. If your CIBIL score is very good, excellent, then you can get loans at the lowest interest rate.
If we see that in State Bank of India, at present, there is a loan at about twelve and a half percent in Mudra Yojana. That is available. But if your CIBIL score is good, then you can get a loan at a low interest rate. I am telling you an estimated interest rate. For the correct information about the interest rate, you have to visit the bank.
Different banks have different interest rates and at different times. What documents will be required to take a Mudra loan? So, Mudra loan is available very easily and with minimum documents. First of all, you should have an Aadhaar card and if you get Aadhaar Udyam registration done, then it is best for you.
Mudra loan Scheme essential documents
So you should have Aadhar card, it is mandatory and mobile number should be linked to Aadhar card. You have to keep this in mind. Apart from this, KYC documents are required which include documents for identity proof and documents for residence proof. Like your Aadhar card, voter card, your passport or driving license, you should have any of these documents.
You can attach any of your voter card or ration card or passport as residence proof document. Apart from this, you should have a mobile number, email ID. You should have an account in the bank from which you are taking the loan. You have to attach the bank passbook. Along with this, you have to attach the bank statement of the last six months.
If you have an existing business, for which you are taking loan to expand your business, then you have to attach a copy of ITR. You have to attach documents related to the details of the business. Apart from this, you have to attach three passport size photographs and if you belong to a special category, then you also have to attach the certificate of the category.
Along with these documents, you also have to attach the income proof document and if you are filing ITR, then you also have to attach the document related to ITR. I have told you some basic documents here. Apart from these, when you visit the bank, some extra documents can also be demanded from you. But before applying for a loan, you should have all these documents. Before moving forward in the article, let me remind you one thing, please share the article.
Now we will talk about the most important topic. How to apply for a Mudra loan? You can apply online to get a Mudra loan and can also apply offline. If you want a loan of up to fifty thousand rupees, then you can apply under e-Mudra loan and take a loan by applying from home. If you need a bigger loan, a loan of a larger amount, then you will have to visit the bank.
Who will apply for Mudra loan scheme
But you can apply for it online from home. After applying online, taking the receipt and attaching all the documents, you have to go to the bank. If you go to the bank, you will get the application form there. You can fill up the application form and apply there. If you want to get the application form online, then you will get it on the online portal. Now you have to scroll up the display that is visible here.
Here you can download the application form. You have to fill up this application form properly and attach the documents you have and the documents I have told you and apply this form in the bank. If you want to apply online, then you can also apply online from home. For this you have to visit the site. warsindia.org,
Who can apply Mudra loan Scheme?
If You have abilyti to fill it so you can take this scheme for busince purpase.
Conclusion
You can apply online by visiting this website. I have made a separate article with complete information on how to apply online. If you want to know information related to online then you can see the article that you are seeing here. I will put its link