Under the Pradhan Mantri Mudra Loan Yojana (PMMY), loans are provided to micro, small and medium enterprises at affordable rates. The Mudra scheme was launched by the Modi government in April 2015, with the aim of providing easy loans for business to small businessmen. If you also want to take Mudra loan for your business then you can apply for it.
Apply in Pradhan Mantri Mudra Loan Yojana
This is the way to apply online for Pradhan Mantri Mudra Loan Yojana.
Step 1- Download Mudra Loan Application Form.
Step 2- Fill the correct details in the loan application form.
Step 3- Visit any public or private bank that gives Mudra loan.
Step 4- Complete all the bank procedures. You will get the loan after all the procedures are completed.
Benefits of Mudra Loan
Under the Pradhan Mantri Mudra Yojana (PMMY), the government gives loans without guarantee. That is, processing charge will not be charged from the beneficiary for taking the loan.
The loan taken under this attracts different interest rates and it also depends on the method of your work. However, the minimum interest rate is around 12%.
so much interest
The interest rates also depend on the loan amount and repayment period etc. The interest rate can range from 12-18 per cent depending on the bank. However, mostly 10 to 12 per cent interest is charged.
Must have these documents
Documents required for Mudra loan are Aadhar Card, PAN Card, Passport, Voter ID Card, Driving License etc.
Apart from this, utility bills, Aadhar card, valid passport, domicile certificate, voter ID etc. will be used for address proof.
Now you can also apply by visiting the website of the financial institution from which you want to take Mudra loan.
All you have to do is click on the button that reads Mudra Loan Online Apply.