PM e-Mudra Loan 2023|| How to Apply e-Mudra Loan|| What is Interest Rate Of Mudra Loan?
PM e-Mudra loan is a flagship program initiated by the Government of India to provide financial assistance to small and micro enterprises. This scheme is aimed at promoting entrepreneurship, creating job opportunities, and enhancing the overall economic growth of the country. The scheme has been in operation since 2015 and has benefitted numerous small businesses across the country. In this blog, we will discuss PM e-Mudra loan 2023, its interest rate, types, and how to apply for it.
Interest rate of E-Mudra Loan
The interest rate for PM e-Mudra loan 2023 is determined by the lending institution. However, it is generally in the range of 8% to 12%. The rate of interest may vary depending on the creditworthiness of the borrower and the tenure of the loan.
Types of PM e-Mudra loan:
There are three types of PM e-Mudra loan:
- Shishu: This is the first stage of the loan and is meant for new entrepreneurs who are just starting their business. The loan amount can go up to Rs. 50,000.
- Kishor: This is the second stage of the loan and is meant for businesses that have been in operation for a few years and need financial assistance to expand their business. The loan amount can range from Rs. 50,000 to Rs. 5 lakhs.
- Tarun: This is the third stage of the loan and is meant for well-established businesses that need financial assistance to upgrade their infrastructure or expand their business. The loan amount can range from Rs. 5 lakhs to Rs. 10 lakhs.
How to apply for PM e-Mudra loan 2023:
Here are the steps to apply for PM e-Mudra loan 2023:
- Visit the official website of the lending institution or the Mudra loan portal.
- Fill in the application form with the required details, such as your name, business details, loan amount required, and other relevant information.
- Submit the application form along with the required documents, such as proof of identity, address proof, business plan, and financial statements.
- The lending institution will verify the application and documents and sanction the loan if the application is approved.
Here are the links to apply for PM e-Mudra loan 2023:
- Mudra loan portal: https://www.mudra.org.in/
- State Bank of India: https://sbi.co.in/
PM e-Mudra loan 2023 is a great initiative by the Government of India to support small and micro enterprises. With its low-interest rates and flexible repayment options, this scheme has already benefitted numerous small businesses across the country. If you are a small business owner looking for financial assistance, you can consider applying for PM e-Mudra loan 2023.