PM Mudra Loan Yojna: PM Mudra Loan Yojana is being operated under the leadership of Prime Minister Shri Narendra Modi. Under this scheme, a good level of loan is arranged for all those people who want to start their own private business or want to take their old business forward.

In PM Mudra Loan Yojana, you can take a loan from any bank branch according to your business. Let us tell you that all banks have different rules for this loan, which is necessary for everyone to follow.

In this loan scheme, loan can be obtained within just 24 hours on the basis of application. For all those people who are thinking of taking a loan from PM Mudra Loan Yojana and want to start a business, in this article we are going to tell the special things of this scheme and will also give information about applying for a loan.

What is the scheme

Let us tell you that under the PM Mudra Loan Scheme, loans are given at much lower interest rates than other places, as well as a good time period is also provided for its payment, under which the person taking the loan can easily repay this loan.

This loan is given by the financial branches of the bank only for business, that is, the person cannot use it in any other way. According to our suggestion, before taking a loan, the applicant should get all the related information in detail from the bank branch.

Eligibility

  • The person taking the loan should be the citizenship of India.
  • The age of the applicant should be 18 years or more.
  • His family status should be of low or normal level.
  • The applicant’s civil and credit should be clear to take a loan.
  • He should have a business project and should have a good intention to start a business.
  • Main identity documents should also be available to apply for the loan.

How much loan will be available

Under the PM Mudra Loan Scheme, the government can give a loan of up to Rs 10 lakh to the applicant on the basis of his project. Let us tell you that there is no provision of minimum loan in this loan scheme. The loan amount can also be decided on the basis of bank limit which varies according to different banks.

How to apply

  • To apply for PM Mudra Loan Scheme, first of all you have to go to the bank branch.
  • Go to the bank branch and understand the rules and regulations of PM Mudra Loan Scheme from the employees.
  • After getting complete information, get the loan scheme form.
  • In this form, enter the complete details compulsorily with the help of blue ink.
  • Now attach important documents with the form and paste the passport size photo in the form.
  • After this, submit it to the bank branch for verification.
  • After verification of the form and documents, the loan will be approved.
  • After this, the loan amount will be transferred to the applicant’s account within 24 hours.