Ideas for new business ! This scheme will provide you finance up to 20 lakh.

 Ideas for new business ! This scheme will provide you finance up to 20 lakh.

Many people are trying to start their own business due to the problems of their jobs. But due to lack of financial condition and taking a loan, there is tension of interest. Therefore, some people only see it as a dream. But if you want to start a business, you can get help from the government up to 20 lakhs.

 

There are many restrictions while working and one cannot do the project as one wants. Therefore, everyone feels that something should be their own. They want to start their own business, no matter how small. But many people think and withdraw after thinking about it due to financial situation and worries about whether they will get a loan or not. But if you have a good idea, don't worry. Because the government will give you money to start a business. Under the Pradhan Mantri Mudra Yojana (PMMY), the government provides collateral-free loans. This loan is given for non-corporate and non-agricultural purposes. You can start your business by taking advantage of this government scheme. Earlier, loans up to Rs 10 lakh were given through this scheme. But in the last budget, the limit was increased significantly from Rs 10 lakh to Rs 20 lakh. A new category of Tarun Plus has been added to this scheme and a loan up to Rs 20 lakh can be taken. The special thing is that this loan is collateral-free and no processing fee is charged on it. If you want to take a loan through the Pradhan Mantri Mudra Yojana, you can take it from any government or private bank. You can apply for a loan from Regional Rural Bank, Small Finance Bank, Non-Financial Companies. Let's know the loan schemes and stages..

 

Shishu Loan - Loan up to Rs 50,000 is given.

Kishore Loan – Loan up to Rs 5 lakh is given.

Tarun Loan - Loan up to Rs 10 lakh is given.

Tarun Plus- Loan up to Rs 20 lakh is given. (But the benefit of this scheme is available only after taking a loan in the Tarun category and repaying it. )

Even if you are doing business in partnership, you can take a loan through Mudra Yojana. The total repayment period of the loan is from 12 months to five years. But if you are not able to repay the loan in five years, you can extend its period by another five years. The best thing is that you are not charged interest on the entire amount of the sanctioned loan. But interest is charged only on the amount withdrawn and spent through Mudra card. The interest rate varies according to the category. To take advantage of this scheme, you must be an Indian citizen. The age of the beneficiary should be above 18 years. There should be no default history with the bank. The business for which Mudra loan is to be taken should not be a corporate entity.

Apply for Mudra Yojana First of all, go to the official website of Mudra Yojana mudra.org.in. On the home page, you will see three types of loan options. In this, select one of the Shishu, Kishor and Tarun Yojana. After this, a new page will open. Download the application form from it and take a printout. Fill the application form properly. At this time, attach Aadhaar card, PAN card, documents showing the business address, income tax return and self-tax return copy, passport size photo, etc. Then submit this form to the nearest bank. The bank will scrutinize the application and will give you a loan within 1 month. To apply online, you will have to create a username and password. After that, login to the Mudra loan website and you can