Shishu Mudra Loan: If anyone wants to start his own business then through our government and some banks you can get ₹50,000 to start his own business as well. Even if you have a business and want to improve it, you are given this loan from Union Bank. Start your own business now Govt will provide loan up to ₹50,000.
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You can take Shishu Mudra loan mainly for starting street lorry, shop opening and other small business. These loans are provided by big banks to small banks and MFIs, small finance banks and NBFCs. With the help of this scheme, you are given a loan without any guarantee. Any person who wants to start his own business can go to the bank and apply. For this loan, you can apply for the loan by going to the government website https://www.udyamimitra.in.
Details Loan Yojana
- Loan Amount: Up to Rs 50,000
- Interest Rate: 1% to 12%
- Repayment period: 5 years
- Loan Type: Non-Guaranteed
Qualifications to Apply
- Age: 18 to 60 years
- Certificate of occupation
- Bank Account (3 years old)
- GST return and income tax information
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Benefits
Mudra loan upto ₹50,000 without any guarantee you can get under Pradhan Mantri Loan Yojana. In which you have to pay interest ranging from 1% to 12%. This plan gives you up to five years to repay the money.
Eligibility
The following qualifications are required to avail this mudra loan yojana:
- Age: Applicant should be between 18 to 60 years of age.
- Profession: Applicant must have a profession in his name.
- Certificate: Applicant must have a valid certificate of occupation.
- Bank Account: The applicant should have a bank account and the account should be at least three years old.
- Tax Return: Applicant must have complete GST return and Income Tax information.
If all these qualifications are fulfilled then the applicant can apply for this Loan and avail the benefits of this scheme.
Documents
- Aadhar card
- PAN Card
- Mobile number
- Credit card report
- Business Certificate
How to Apply for Union Bank Shishu Mudra Loan Yojana?
You have to apply for Shishu Mudra Loan Yojana to start your business. Here is the complete information about how you can make this application and where you will need the necessary documents. All this process you have to do offline which process is shown to you below.
- Branch Visit: Visit your nearest Union Bank branch.
- Get Application Form: Get loan application form from bank employee.
- Fill Form: Fill the required details in form.
- Attach Documents: Attach required documents.
- Submit: Submit filled form and documents to bank.
Online Process
If you want to apply Shishu Mudra Loan online then now you can also apply online.
- First you have to go to the government portal website.
- Now you have to click on “Mudra Loans” option below.
- Enter your name, email and mobile.
- Enter the OTP that will arrive.
- Now enter your other details.
- Upload the documents.
- Wait for your loan to be approved.
- You will get the loan after verification of your documents.
Conclusion
Shishu Mudra Loan Scheme is an important scheme to provide financial assistance to small businesses and industries. With the help of this yojana, small businesses can easily get money and use the necessary money for the growth of their business.
Many small businesses have been benefited by this scheme of the government, they have been inspired to work with renewed vigor and this scheme has contributed significantly to the economic development of the country.
This scheme helps small businesses reach new heights and gives them financial independence. If you also want to start a business or change your business then Shishu Mudra Loan Yojana is a great option for you.
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