Pradhan Mantri Mudra Loan: If you are about to start a business and you need money, then the government runs a scheme for you. This scheme is Pradhan Mantri Mudra Loan, under which loans up to Rs 10 lakh are given without guarantee to business people.
The loan amount can be taken under three categories. Under Pradhan Mantri Mudra Loan Yojana, loans can be taken under Shishu, Kishore and Tarun categories. To take a loan, you have to apply to the bank and there should be proper documents for the application. In such a situation, let us know with the help of which documents you can take a loan and how much loan amount will be received under the scheme.
How much amount will be given in Shishu category
If you are starting a business, then you can take a loan under the Shishu category. In this, you will be given a loan amount of up to 50 thousand rupees. You are given 5 years to repay the loan amount. During this, interest ranging from 10 percent to 12 percent can be charged.
kishor loan amount
If you have already started a business, then you can take a loan of Rs 50,000 to Rs 5 lakh under this scheme. The lending institution fixes different interest on this amount. Along with this, the application and credit records are scrutinized while giving the loan amount. If the records are found correct then the loan is approved.
Amount in tarun loan
This scheme is given to those people who have established their business and want to expand their business further, for which there is a need to buy property etc. In this case, the loan amount is given, which can be from Rs 5 lakh to Rs 10 lakh. The interest rate is decided by the lending institution.
What documents will be required
Application form, passport size photo, KYC document, identity card, address proof, income proof, complete business related details, office proof, license and registration proof etc. will be required to be given.
