Pradhan Mantri Mudra Yojana – The Indian government has come with a loan scheme and named Pradhan Mantri Mudra Yojana and it is also called Mudra Loan Yojana. Pradhan Mantri Mudra Yojana is the Indian government scheme to “fund the unfunded”. With the help of Mudra bank our PM Narendra Modi has launched this scheme.
There are so many interesting points to know about the Pradhan Mantri Mudra Loan Yojana like types of loans, Mudra loan online apply and interest rates.
Types of Pradhan Mantri Mudra Yojana loans:
Pradhan Mantri Mudra Yojana – PMMY has issued 3 types of loans for applicants. The loan types are listed below:
- Shishu: This Shishu loan is issued for the people who required lesser funds. The applicant will get a loan up to Rs 50,000 under this stage
- Kishor: Kishor loan is an issue for the people who are already started their business and want some funds to improve their business. The applicant will get a loan between Rs 50,000 to Rs 5 Lakh.
- Tarun: In this stage, an applicant will get the highest loan amount and required eligible conditions. The applicant will get the loan above Rs 5 Lakh and up to Rs 10 lakh.
Eligibility for Mudra bank loan yojana: – Check here for eligibility Pradhan Mantri Mudra Loan Yojana
Mudra Bank Loan Yojana Interest rates:
Interest rates won’t be fixed as well as it depends on the type of business and bank. Each bank will have its criteria. The Indian government may give some subsidy on the interest rates but the particular percentage is still not declared. Mudra loan interest rates are between 10% to 18%.
Mudra bank loan application form – mudra loan online apply process :
Apply for Pradhan Mantri Mudra Bank Loan Yojana with mudra loan application form online. Download mudra loan application form and apply for Pradhan Mantri Mudra Loan Yojana
Key Features for Pradhan Mantri Mudra Yojana:
- The Indian government supports micro or small business as well as start-ups. Micro-unit development and refinance agency popularly called as Mudra
- Pradhan Mantri Mudra Yojana is the refinancing agency and not a direct financial institution
- Mudra is the common platform where financial institutions like RRBs, banks, MFIs, NBFCs will meet the applicants to set up their micro-enterprises.
- Under this scheme there can be sole proprietors, manufacturers, partnership firms, machinery business and more can be considered.
Pradhan Mantri Mudra Bank Loan Yojana. There so many attractive benefits under this scheme. So many people started their own businesses under this Mudra bank loan Yojana. Rs 96 crores has been distributed under this scheme.