PM BPL loan YOJANA 2019, Objective of Loan Scheme 2019
The government of India is organizing many different events as well as schemes for the citizen of our country. However, our respected Prime Minister Mr. Narendra Modi has been running various different schemes in order to benefit as well as to help the poor and needy people of the country. Among from all these schemes one of the very well known popular scheme run by our prime minster is Pradhan Mantri Mudra loan Yojana scheme. It is also known as Mudra Yojana. However, the main objective of government behind introducing this scheme is to provide the loans to the citizen of the country at the reasonable rates.
Through this if an individual is thinking to establish his own business then he can become self sufficient with the help of this scheme. Under this scheme government is planning to provide all the basic loan facilities to the people of India. The Mudra loan scheme is run by the government in a three easy ways with the help of Sishu loan, Kishore loan and Tarun Loan. On the basis of their needs one can easily avail its benefits. However, you can easily avail this loan from the Bhamasha Mudra loan bank scheme, Aadhaar card loan, Pradhan Mantri Mudra yojana through these ways you can easily gather all the basic respective information.
Under this scheme government is trying to promote small as well as medium sized industries in order to meet the financial needs of the country. Thus, in this scheme loans will be provided to the poor as well as needy people at the low interest rate. So if an individual person is thinking to set up their business they can run it smoothly.
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Benefits of Loan Yojana:
- The main benefit of this scheme is people will be provided loan under this scheme without any kind of guarantee. Also loans under this scheme do not possess any processing fees.
- Under this scheme time period to pay the amount of the loan can easily be extended up to the 5 years.
- If the loan amount range between rupees 50000 to rupees 10 that can be easily obtained under the Mudra yojana.
- Under this scheme people offered loan at the low interest rate which is very low in comparison to the other bank.
Prime Minster Loan Interest Rate 2019:
|Rupees more than 50000/-||MCLR + SP||(MCLR+SP) + 0.50%|
|Rupees 50000 and up to 2 lakhs||(MCLR+SP) + 0.50%||(MCLR+SP) + 0.70%|
|Above 2 lakhs and up to 10 lakhs||(MCLR+SP) + 0.70%||(MCLR+SP) + 0.85%|
Types of Loan Yojana:
However, there are different types of loan yojana run by the government. These are as follows:
1. Sishu Loan- This loan covers candidates who want to set up small business as well as want existing business running. Thus, under this one can receive loan up to rupees 50000. The interest rate varies from 10 to 12%.
2. Kishore Loan- This loan category includes people who want to expand their business so the eligible candidates can easily receive loan amount up to rupees 50000 to 5 lakhs.
3. Tarun Loan- This loan category includes people who can get all small business loans as well as want to expand their business. Under this scheme the eligible candidate will receive the loan amount up to 10 lakhs rupees. Interest rate for this category starts from 16%.
What are the Documents Required for this Scheme?
If you want to apply under this scheme as well as you are eligible to apply. Then you are required to bring the certain documents in order to take part under this scheme. The documents which you need to bring are as follows:
- Identification certificate such as Voter ID card, aadhaar card, PAN card, driving license, passport.
- Certificate of Identity such as telephone bill, electricity bill, property tax slip, Voter ID card, passport, aadhaar card.
- Certificate of business
- Bank account statement
- Project report and
Banks and Institution Providing Pradhan Mantri Loan Yojana:
Under this scheme almost all the banks as well as institutions are providing loan facilities to the citizen. However, under this yojana loan can be obtained from the following banks:
- 27 from the public banks
- 17 private banks
- 31 regional rural banks
- 4 co-operative banks
- From the 36 micro finance institutions
- From the 25 non-banking financial institutions.
How to Apply under the Scheme?
If you need to get the loan then for that it is very essential for you to learn about the method from which you can apply for the loan. You can get the loan in the three forms Sishu, Kishore and Tarun. Thus, you need to select in which way you want to take the loan. We have mentioned details steps here so by following them you can easily accomplish the procedure of the loan. Thus go through these steps I order to get the loan. The steps are as follows:
- First of all you need to select the respective bank that provide loan in that particular area. After that you are required to visit to the nearest bank.
- After you have reached bank you need to provide your business idea along with the certificate of identity, certificate of business as well as passport size photo and other necessary documents.
- After you have completed all these steps if the interested candidate found eligible for the loan then the process of providing loan will start.
In this way you can complete the process. However, if you need any kind of guidance under the scheme then you can easily gather more information from the phone number as well as websites. We have mentioned each and every detail. Toll free call- 1800 180 1111/1800 11 0001.