Loan for business up to Rs 10 lakh without guarantee
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New Delhi. If you want to start your business but you do not have any guarantor to raise money, then you do not need to worry, under the Pradhan Mantri Mudra Yojana run by the government, you can get a loan of up to Rs 10 lakh without guarantee. can pick up. This scheme was started from the year 2015. So far, the government has disbursed loans worth more than Rs 48,000 crore under the scheme.
How to get loan under the scheme
Three types of loans are being given under Mudra Yojana
To start a business under Shishu Mudra Loan , loans up to Rs 50,000 can be found.
In Kishor Mudra Loan , an individual can avail a loan of up to Rs 5 lakh to set up his existing business.
Businessmen can take a loan of up to Rs 10 lakh to pursue business in Tarun Mudra Loan .
At what interest rate do you get Mudra loan?
Under the Pradhan Mantri Mudra Yojana, different interest rates have been fixed for different categories. At the same time, rates are also fixed based on the level and capacity of the business. The minimum interest rate for Mudra loan is 12%. On the other hand, interest rate up to 16 percent may have to be paid for Tarun Mudra loan.
Who can take advantage of Mudra loan
Mudra loans are being distributed to help small businessmen and institutions. Through the scheme, loan can be taken for proprietorship firm, service sector unit, small manufacturing unit, shopkeeper, partnership firm, repair shop, fruit vegetable vendor, small industry, hotel, food processing unit.
What are the application conditions
To avail the loan, the monthly income of the applicant should be more than Rs. If the applicant is a businessman, then it is necessary that his business should be 5 years old. If a person wants to start his business then he should have worked for 2 years before starting the business. On the other hand, if the loan is being taken in the name of a business, then its annual turnover must be Rs 15 lakh.
