PM Loan Yojana 2024: Ever since the Modi government came to power, it has started many loan schemes. Under which, those people who want to start their new business or want to expand their already running business can take loan under this scheme.
The central government wants to promote small and medium industries (MSME) in the country because only when these small industries develop, the country’s economy will be able to grow. Many schemes are being run under PM Loan Scheme in which business loans ranging from Rs 10,000 to Rs 50 lakh are given.
What is PM Loan Scheme?
Pradhan Mantri Loan Yojana is for those people who want to start small and medium businesses or enterprises, but they face problems due to lack of initial capital. Under this scheme, the government provides loans at low interest rates so that small enterprises can get support and develop them.
Under the scheme, there is a provision of subsidy on business loan in which the applicant gets subsidy ranging from 3% to 40%. The quantum of subsidy may vary depending on the type and requirements of the business. Generally, the main objective of this scheme is to provide loans to small and medium enterprises at cheap interest rates.
Some PM loan schemes are as follows:
| Scheme | Loan Amount | Subsidy |
|---|---|---|
| पीएम मुद्रा लोन | ₹50,000 से ₹10 लाख | — |
| पीएम रोजगार रोजगार सृजन लोन | 20 लाख रुपये | 35% |
| पीएम स्वनिधी लोन | ₹10,000 से ₹50,000 | 7% |
| पीएम विश्वकर्मा लोन | ₹3,00,000 तक | — |
| न्यू स्वर्णिमा लोन | ₹2,00,000 | — |
| उद्योगिनी लोन | ₹3,00,000 | 50% |
| PMFME लोन | 50 लाख रुपये तक | — |
| NBCFDC लोन | 15 लाख रुपये तक | — |
| स्टैंड अप इंडिया लोन | 1 करोड़ रुपये तक | 5% से 25% |
Eligibility for Prime Minister Loan Scheme
To apply for Pradhan Mantri Loan Scheme, a candidate must fulfill the following eligibility criteria:
- Applicant must be an Indian citizen.
- For loan under the scheme, the applicant will have to submit the project of his business.
- The age of the applicant must be at least 18 years.
- The applicant should not have already taken loan under any government scheme.
- Persons declared defaulters by any bank or financial institution will not get loan under this scheme.
Only candidates who fulfill the criteria given here can take loan under Pradhan Mantri Loan Scheme.
Prime Minister Loan Scheme Required Documents
Before applying for Pradhan Mantri Loan Scheme, the applicant should prepare the following necessary documents:
- Business Identity Certificate (Aadhar Card, Passport etc.)
- Udyog Aadhar Card
- EDP Training Certificate (if present)
- Bank account statement
- Financial accounts of last three years (if the business is old)
- Estimated loan requirement and usage details
Apart from these, other related documents may also be required, depending on the terms and conditions of the specific bank or loan scheme.
How to Apply for PM Loan Scheme?
To apply for PM Loan Yojana, follow the following steps:
- First of all, select any of the schemes mentioned above and go to its official website.
- Click on “Loan Apply” option on the homepage.
- Enter your details like name, address, business information and Aadhaar number in the form.
- Fill in the details of the bank account in which you want to take the loan amount.
- Now upload the necessary documents and submit the form.
After applying, your application will be considered and if you fulfill the conditions and qualifications of the said scheme, your loan will be approved.
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Conclusion – PM Loan Yojana 2024
PM Loan Scheme has played an important role in providing financial assistance to small and medium enterprises of India. This scheme helps entrepreneurs to get loans at cheaper interest rates, which helps them in raising the necessary resources to grow their business.
I hope you have got all the information about PM Loan Scheme 2024, please share the article with your friends who are looking for a loan to start a new business.
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