If you want to start your own business but you don’t have money, then we have a solution to your problem. Let us tell you that the government now provides loans to make the youth of the country self-reliant. PMEGP loan Yojana has been started especially for the youth.
So if you want to get relief from unemployment and are interested in starting your own business, then you can take a loan from the government. But the government gives loans only to those people who meet the eligibility criteria. For this, you will not need many documents, rather you can take a loan with your Aadhar card.
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So if you want to start your own business, then you can take advantage of the PMMY loan scheme. In today’s article, we will tell you what is the application process, eligibility, necessary documents etc. to avail the benefits of the scheme.
PMEGP Loan Yojana 2024
The government is constantly making efforts to make young citizens self-reliant. This is the reason why the government has started the PM AGP Loan Scheme. Through this scheme, you can take a loan of up to Rs 50 lakh from the government and start your own work.
The best thing is that the loan you get through PM AGP scheme has a very low interest rate. If you live in a rural area, then you are also given the benefit of 35% subsidy by the government.
Similarly, the government provides a subsidy of 25% to the citizens living in urban areas. For information, let us tell you that by getting subsidy, you can easily start your own business and become self-reliant.
Benefits of PMEGP Loan Scheme
- Through this scheme, small and middle class businessmen will get loans to do business.
- You can get a loan of up to Rs 50 lakh from the government as per your eligibility.
- You will also get subsidy on the loan you will receive, which is the biggest feature of this scheme.
- Different subsidy amounts will be given to the citizens living in rural and urban areas.
- Under the PMEGP Loan Scheme, the government will get help in eliminating the unemployment that is spreading in the country.
- You can also provide employment opportunities to other people by starting your own business.
Subsidy available under PMEGP loan scheme
As we told you that if you take a loan through this scheme, then the government also gives you subsidy. In this way, you are given the benefit of subsidy ranging from 25% to 35%.
Let us also tell you here that any person can take a loan of Rs 2 lakh to Rs 10 lakh through PMEGP loan scheme. Let us tell you that the government provides loan according to the capacity and eligibility of each person to take loan.
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Eligibility for PMEGP Loan Scheme
- To do business, the applicant must have some qualification.
- You can use your Aadhar card to avail loan through this scheme.
- The beneficiary person should be a resident of India only.
- The person must have studied at least till 8th standard and his/her age should be between 18 to 40 years.
Documents required for PMEGP Loan Scheme
If you want to take a loan to start or expand your business, then you must have some documents :-
- Aadhar card
- Caste certificate
- PAN card
- Address proof
- Certificates of education
- Mobile Number
- email id
- Report on your business project
How to apply online for PMEGP loan scheme?
- First of all, go to the official website to get PMMY loan.
- After this, go to the home page and find the link for PMMY loan and click on it.
- Now the registration form will open in front of you, enter all the information in it.
- Next, upload all the documents one by one and then press the submit button.
- Now the concerned officer will verify your registration form, after which the loan amount will be sent to your bank account.
