Pradhan Mantri Mudra Loan Yojana (PMMY) Benifits, Features, Eligibility, Interest Rates & Charges
The Pradhan Mantri Mudra loan Yojana (PMMY) is scheme launch by the Government of India to help small and micro businesses
Mudra loan is prepared for the small enterprises handle the current financial system with “Fund the Unfunded”, Under this PMMY scheme eligible for non-farm micro and small businesses to generate income through manufacturing, trading and services
Overview of PMMY
|Platform Name||Mudra Yojana|
|Scheme Name||Pradhan Mantri Mudra Yojana|
|When Started||8th April 2015|
|Launched by||Shri. PM Narendra Modi|
| Target Beneficiaries||Small type businesses|
|End||No Specific date|
|Scheme Steps||Shishu(50,000), Kishor(5 Lakh), Tarun(11 Lakh)|
|Scope of Schemes||Allover India Mudra Loan|
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Mudra Yojna’s main aim to build small Business Therefore any of business can be applied under this scheme launched officially by the Government of India.
- One of the most benefit of this Mudra yojana is that loan taker do not have to provide any assets or security as collateral
- With Pradhan Mantri Mudra Yojana there will be no processing charges or any fees because this project handle by Government.
- Mudra Loan Scheme provide funding facilities to Small and Micro businesses for generate incomes.
- No Specific less loan amount for Mudra Loans
- Credit service can be extended anytime as per PMMY for any of funding or non-funding requirements. hence, Loan taker can use this scheme for various ententes.
- In this scheme borrower no have to pay any fees or charges.
- With PMMY there is no minimum loan amount under Mudra loan scheme, maximum amount can be claim 10 Lakh.
- Non-farm sector can not process for this scheme, But related to agricultural activities, can be possible for funding.
Read in Hindi – Mudra Loan
There is 3 types of category loans :
- Shishu : Loan amount can be up-to Rs.50000
- Kishor : Loan amount can be approve up-to Rs.50001 to 5 Lakh.
- Tarun : Loan amount can be sanctioned under PMMY Scheme Rs. 5,00,001 to 10 Lakh.