Pradhan Mantri Mudra Yojana 2024 PMMLY Online Apply, Interest Rate

PMMY Mudra Loan Scheme 2024 Online Form

Apply Online for PM Mudra Yojana Application Form 2024 @mudra.org.in. MUDRA Loan is a scheme that has been started by the central government. This loan scheme has been started by the central government under the Pradhan Mantri Mudra Yojana (PMMY). The main purpose of this scheme is to promote the MSME sector in India. For this loan, there is no particular or minimum loan amount that has been set by the government, though the maximum loan amount has been decided as up to 10 lakh rupees. The tenure of these loans provide under PMMY is of 5 years, whereas there is no requirement for collaterals by the lender of the financial institution.

PMMY Modi Mudra Loan Yojana 2024 Details

Organization Name: Micro Units Development & Refinance Agency Ltd.
Scheme Name: PM Mudra Loan Yojana
Launched By: Prime Minister of India
Work Under: Government of India
Apply Online Date: Scheme Active
Last Date of Registration: Notified Soon
Category: Sarkari Yojana
Official Website: https://www.mudra.org.in/

Pradhan Mantri Mudra Loan Yojana Scheme {PMMLY} 2024

All those candidates who want to know all about these loans and want to take benefit of this scheme are requested to stick to this article until the end. In this article we are going to discuss eligibility, how to apply, loan interest rates, and all the other necessary or required information about this scheme.

The Mudra loan interest rate is something that varies from bank to bank. With that, it also depends on the applicant’s profile and on his or her business requirements. To check the exact interest rate the applicant shall need to contact the respective bank or may check from the bank’s official website.

List of Mudra Intrest rates – 2024 Bank wise

SBI – It will take 9.75% onwards interest rates, there will be no processing fee for the Shishu scheme, Maximum loan amount that can be taken by the candidate is up to 10 lakh rupees and the tenure for this loan scheme will be 5 years.

Andhra Bank – It will take 10.50% onwards interest rates, There will be a 50% concession on applicable processing fees on the scheme, Maximum loan amount that can be taken by the candidate is up to 10 lakh rupees and the tenure for this loan scheme will be 5 years.

Bank of Baroda – It will take 9.65% onwards + SP (Strategic Premium) interest rates, there will be no processing fee on every scheme, Maximum loan amount that can be taken by the candidate is up to 10 lakh rupees and the tenure for this loan scheme will be 5 years.

Corporation Bank – It will take 9.35% onwards interest rates, and there will be a processing fee on every scheme As per the applicant’s profile, the maximum loan amount that can be taken by the candidate is up to 10 lakh rupees and the tenure for this loan scheme will be 7 years.

Bank of Maharashtra – It will take 8.55% onwards interest rates, and there will be a processing fee on every scheme As per the applicant’s profile, the maximum loan amount that can be taken by the candidate is up to 10 lakh rupees and the tenure for this loan scheme will be 5 years.

PM Mudra Loan Scheme Yojana Shishu, Kishor & Tarun 2024

The interest rate under this Mudra yojana varies from bank to bank depending on the bank to bank to the category of the loans and according to business requirements. This Mudra category has been divided into three main segments which are Shishu, Kishor, and Tarun. The interest rates that banks offer are meant to suit each segment based on their needs and prescribed guidelines. The three loan schemes under Mudra Yojana along with the loan amount offered are as follows:

This scheme of loan is been further divided into three main stages which are-

Shishu
Kishor
Tarun

Shishu – In this scheme candidates can take a loan up to 50,000 rupees for which the stage caters to the needs of entrepreneurs who are yet to start their businesses or whose enterprises are at an early stage.
Kishor – In this scheme candidates can take loan up to 50,001 rupees to 5,00,000 for which This stage helps the businesspersons who have started their business but are in a need of funds to sustain it in the market. This segment is also for those entrepreneurs who need a larger sum of money than what Shishu loan offers for starting their businesses.
Tarun – In this scheme candidates can take a loan up to 500,001 rupees to 10,00,000 for which This is the highest level of the scheme and an entrepreneur is eligible for a loan from Rs. 5 lakh and up to Rs. 10 lakh. These loans are meant for business owners who need to set up a large business or need funds to expand the enterprise.

Eligibility Criteria & Required Documents for PMMY Scheme 2024

To get the benefit of this scheme candidates needs to fit into the eligibility criteria first. The eligibility criteria for this scheme are –

Those candidates who are starting their business are liable to get the loan amount at minimal interest rates from the government under Pradhanmantri Mudra Loan Scheme 2024, for these people are applicable to make the application online.
The candidate who is taking the loan needs to be above 18 years of age to get the benefit of this scheme.
The candidate should not be a defaulter in any bank which is registered under the government of India.
Aadhaar card
Pan Card
The permanent address of the candidate
Business address and proof of the settlement of the business.
The balance sheet of the candidate for the last 3 years.
Income tax returns and Self tax returns
Recent passport-size photograph of the candidate.

How To Apply Online for fill PM Mudra Loan Scheme/Yojana Form 2024

After fitting in the eligibility criteria candidates are liable to make the application under this scheme for which they need to visit the official website of this scheme or they can also make sure to follow some simple steps which are-

Those candidates who want to get benefits from this scheme can make their application to their nearest government banks, private banks, Gramin banks, and other registered banks. To make the application they need to visit the bank branch will all the documents.
After reaching the bank candidate need to take the application form and need to fill it in at the bank itself.
After this, they need to fill in all the necessary information in the form and with that, they need to attach a photocopy of all the documents asked in the form.
After this, they need to submit this application to the bank and after the verification, process banks will provide the loan to the candidate within 1 month time period.