Want to take a loan under the Prime Minister's Mudra plan?  Read How To Application Detail

Want to take a loan under the Prime Minister's Mudra plan?  Read How To Application Detail

How to apply for a loan as per the money plan in any bank?

 To meet the financial needs of small and medium-sized businesses in the country in April 2015, the Minister started the PRADHANMATRI MUDRA YOJANA PMMY in April.
 If someone wants to do a new business or wants to pursue their business, then they usually apply for a loan in the bank.  There is also a guarantee for this, which is why most people return to apply for a loan.  Keeping this in mind, the Prime Minister has announced a monetary plan to promote small businesses which means this is done in this way.
Benefits of Money Planner:

 • According to this plan, the common man can apply for a loan without guarantee.
• There are no processing fees to provide loans in this scheme.
 • The amount of return to the plan is extended to 5 years.
 • The Working Capital Loan can be given by Mudra Card.
 Who can apply for a loan like this?
 Any Indian citizen or firm, (without cultivation) wants to start a new business or extend the current business and whose financial need is 10 lakh, can apply for a loan under this scheme.

 Types of Currency Loans:
Keeping in mind the different businesses, the monetary loan is divided into 3 parts, which are as follows.
 • Infant loan: Loan upto Rs 50,000 / - is given as per this plan.
 • Teenage Loan: This is a loan from 50,000 / - to Rs. 5,00,000.
 • Teenage Loan: In this, from 5,00,000 / - to 10,00,000 rupees are given.

 Interest rate of currency bank loan:

 No fixed interest rates have been kept in this scheme.  Interest rates vary from different banks.  In addition, it is also based on business and its risk.  Usually this interest rate is around 12%.

 According to currency loan, no subsidy is given from the government.  If an applicant has applied for a subsidy scheme of the government in which the government is providing capital subsidy, then the subsidy is linked to the currency loan.