Apply Online for PM Mudra Loan Yojana: Application Form and Last Date
Prime Minister of India Narendra Modi launched the Pradhan Mantri Mudra Yojana, also known as PMMY 2024 or PM Mudra Loan Yojana, in 2015 with the goal of lending interest-free money to business owners. In 2024, this PM Mudra Loan Yojana Under this, entrepreneurs receive interest-free loans in the range of Rs 5 lakh to Rs 10 lakh in exchange for no security deposit of any type.
This post will provide us with all the information we need to apply online for the PM Mudra Loan Yojana, including how to fill out the application and what documents and eligibility are required.
Finance Minister Nirmala Sitharaman unveiled a number of significant initiatives in Budget 2024, including the Pradhan Mantri Mudra Yojana (PMMY). The Modi administration launched the Pradhan Mantri Mudra Yojana in 2015 to promote self-employment. Guarantee-free loans up to Rs 10 lakh are offered under this scheme, therefore you are not need to deposit any type of collateral in order to qualify for the loan. The goal of this loan is not related to corporations or agriculture.
Information about Pradhan Mantri Mudra Yojana: Aspect Details
PM Mudra Loan Yojana 2024 is the programme name.
Goalto give small companies and entrepreneurs financial support for expansion and self-employment.
Qualifications The candidate needs to be an Indian citizen.
Absence of prior bank failures
Companies shouldn’t be corporate entities.
A bank account is required for the applicant.
The required minimum age is eighteen years old.
Maximum Amount of Loan Until INR 10 lakh
Shishu (up to INR 50,000), Kishore (INR 50,000 – INR 5 lakh), and Tarun (INR 5 lakh – INR 10 lakh) are the loan types that are offered.
Application Procedure: Apply online at participating banks and financial institutions or via the official PM Mudra Loan Yojana website.
Essential Records Verification of identification
Provide evidence.
evidence of income
Bank records
Evidence of business ownership
Proof of business continuity
Proposal or business plan
Rates of Interestvaries based on the kind of loan and the lending institution.
Tenure of Repayment Repayment period flexibility of up to five years.
Help Desks Support and direction made available via several bank locations and internet gateways.
The application deadline For deadlines, visit the official website or get in touch with the participating banks.
https://www.mudra.org.in is the official website.
Apply Online by the Last Date for PM Mudra Loan Yojana 2024
The Pradhan Mantri Mudra Loan Scheme’s online application deadline has been extended till December 2024. You can obtain information by going to any nearby cooperative bank to apply for this.
The Pradhan Mantri Mudra Loan Yojana’s Objective
Creating economic opportunities for self-employed people, small enterprises, and entrepreneurs is the aim of the Pradhan Mantri Mudra Loan Scheme. For the purpose of growing their enterprises and gaining socioeconomic empowerment, anyone who apply for loans under this scheme can receive financial support without guarantee.
Benefits of the Pradhan Mantri Mudra Yojana
Entrepreneurs that apply under the PM Mudra Loan Scheme are given loans that are interest-free, collateral-free, and require no processing fees.
Interest-free loans between Rs. 5 lakh and Rs. 10 lakh would be given to entrepreneurs who take out loans under PMMY.
Entrepreneurs can obtain loans under this programme for terms as little as 12 months or as long as 5 years. Additionally, the loan payback time will be extended for an additional five years if you are unable to repay the loan for any reason.
Furthermore, there won’t be any fees of any type applied to the loan you took out, nor will there be any unstated costs of any kind.
What Are the Pradhan Mantri Mudra Yojana 2024 Eligibility Requirements?
The loan applicant needs to be a citizen of India.
The applicant shouldn’t have a history of bank defaults.
Not only should the Mudra Loan business be individual, but it should also not be a corporate company.
The candidate must be older than eighteen years old.
Application Form: Business or Enterprise Details
Authentic photo identification
evidence of the present address
The most recent ITR financial documents that serve as proof of income
Last six months’ worth of bank statements
Application for a Loan
Possession evidence of residency or office
Evidence of ongoing company operations
Commercial Reference
Download the PDF application form for the Pradhan Mantri Mudra Yojana.
Use the link below to download the Pradhan Mantri Mudra Yojana Application Form PDF. Alternatively, you can obtain the application form directly from the official website.
FAQ
What is the loan scheme known as Pradhan Mantri Mudra?
A government programme called the Pradhan Mantri Mudra Loan Yojana offers self-employed people, small business owners, and farmers financial support.
To whom is a loan granted under the PMMY programme?
Loans are given to self-employed people, small business owners, and farmers under this programme.
What qualifications are needed to be eligible for a PMMY loan?
The loan borrower must be an Indian citizen and not be in default with any bank as eligibility requirements.
Which documents are needed to apply for the PM Mudra Loan Yojana?
The first set of documents needed for the PM Mudra Loan Yojana application procedure are financial, commercial, and personal records.
support for loans under the PM Mudra Loan Yojana?
Under the Mudra Loan Scheme, financial assistance cannot exceed Rs 10 lakh.
