PMEGP Loan Apply 2023
What is PMEGP Loan, How to apply PMEGP Loan online, PMEGP Loan Scheme Details & Interest Rate: Friends, Indian governments have given birth to many schemes with the aim of reducing poverty. The main objective of all this is to reduce the poverty prevailing in India. For this, the government comes up with new schemes again and again.
How to apply PMEGP Loan online
Because starting any business requires a lot of money. This is the reason why many people are unable to showcase their skills in front of people. In such a situation, the main objective of the government is to provide a platform to skilled people. So that they can create new employment opportunities through their creativity.
Friends, who doesn’t want to do their own business? But a lot of money is required in the beginning of the business. Because of which even skilled people are unable to do any work and remain unemployed. For such skilled people, the government has implemented a scheme called PMEGP (Prime Minister’s Employment Generation Programme). Through which a person starting a business can take a loan up to Rs 2500000 with the help of the government.
The best part is that you do not even have to repay the entire loan. The government itself pays about 35% of your loan. And you also have to repay the loan in installments only. So in such a situation, starting a business becomes very easy. Come friends, let us know about PMEGP Loan Scheme.
What is PMEGP Loan
PMEGP is called Pradhan Mantri Employment Generation Program
PMEGP Loan Yojana = Prime Minister Employment Generation Programme. This is a subsidy program linked to a business loan. In which skilled people are given assistance from the government to start business.
Under the Prime Minister’s Employment Generation Programme, skilled people are given financial assistance from the government to start their own business. Under the Prime Minister Employment Generation Program, the applicant has to invest only 5% to 10% in the business. About 35% is from the government. And other costs are given to you as loan from the bank.
Under this scheme, you are given loan according to your business. The objective of which is to generate new employment opportunities. And to promote new businessmen in India. Under this scheme, a maximum loan of up to Rs 2500000 can be taken.
PMEGP Loan Scheme Details (PMEGP Loan Information)
Under the Prime Minister’s Employment Generation Programme, you are given a loan by the bank. When you repay this loan, about 25% is given by the government. And you have to pay some part and you are given a loan on some part. Which you have to repay along with interest rates. The loan amount may also increase by 25%.
Let us now talk about who can get loan up to how much rupees under the Prime Minister’s Employment Generation Programme.
- If you want to invest in a manufacturing company, the government can give you a maximum loan of Rs 250,000.
- If you want to invest money in any service sector or business, you can be given a maximum loan of up to Rs 10 lakh.
- Assistance given to general category applicants.
- 15%: Subsidy is given for general category applicants from urban areas.
- 25%: Subsidy is given for general applicants from rural areas.
- Apart from this, the government gives special relaxation to the applicants of backward classes (Special category), so that these people also walk shoulder to shoulder with the general category. This type of subsidy is given to people living in special category (Women/SC/ST/OBC/Minorities/Physically Handicapped/Ex-servicemen/residents of hilly and border areas etc.
- 25%: Assistance given to backward applicants from urban areas.
- 35%: Assistance given to backward applicants from rural areas.
How to get PMEGP Loan (How to Apply for PMEGP Loan)
How to get business loan under PMEGP scheme?
Steps to apply PMEGP online are given below:
Step 1: To fill the online form visit the official website of PMEGP (Khadi and Village Industries Commission website) or click here:
Step 2: You will now be taken to the application form.
Follow the guidelines to fill online PMEGP application and fill all the required details as per your details.
Step 3: After filling all the required details, click on ‘Save Applicant Data’ to save the filled derail
Step 4: Once you have secured your data, you need to upload all the documents for final submission of the application form. Information about the required documents is given below this post.
Step 5: Once the application is completed and submitted, the applicant’s ID number and password will be sent to his/her registered mobile number.
In this way you can apply for the Prime Minister Employment Generation Programme. Save the user ID and password. With this you can know about your loan application anytime.
PMEGP Loan Criteria (PMEGP Loan Eligibility)
- Must be above 18 years of age for Pradhan Mantri Employment Generation Programme.
- Applicant must be an Indian citizen.
- Only one person from a family can avail the benefits of this scheme. It is worth noting that only mother and father are included in a family. Son and daughter can also apply for this loan.
- If you want to take a loan of more than Rs 500000 then it is mandatory for you to have passed 8th class.
- Apart from this, NGOs can also apply for this loan.
- Remember this scheme is given only to new businesses. If you already have a business, you will not be eligible to apply for this loan.
PMEGP Loan Interest Rate
Under the Prime Minister’s Employment Generation Programme, the government’s objective is to generate new jobs. And to make India a leader in the field of production. For this, the government has made this scheme to promote new areas. Under PMEGP, you have to pay 11 to 12% annual interest.
Because this loan is given to the customers even before starting the business. So that is why its interest rates have also been kept low. You have to give this loan in a minimum period of three years to a maximum of 7 years.
PMEGP Loan Documents Required
The following documents are required to take PMEGP loan.
- Passport size photo of the applicant
- Caste Certificate so that you can get special exemption.
- Special Category Certificate (if you belong to any special category)
- Residential Certificate of Rural Area (for rural applicants) as the terms and conditions for rural areas are better than those for urban areas.
- If you want to apply for this scheme through any institution or NGO. So you will also have to provide the registration certificate of the organization.
PMEGP Loan Rules
Prime Minister’s Employment Generation Program (PMEGP) subsidy is a credit-linked subsidy provided by the Government of India. In which the beneficiary can get subsidy of 15%-35% on the total project cost. This subsidy can be availed majorly by individuals and MSMEs across the country.
Applicants who have passed 8th class can apply for loan under PMEGP scheme. Additional entities that can apply for loans under PMEGP include self-help groups, charitable trusts, societies registered under the Societies Registration Act, 1860 and production cooperatives. “What is PMEGP Loan? (PMEGP Loan Scheme Details), How to get PMEGP Loan (How to apply PMEGP Loan) & Interest Rate”
Below given entities are beneficiaries under PMEGP Scheme:
- Self Help Group (SHG)
- Charitable trust
- Societies registered under the Societies Registration Act, 1860
- Production cooperatives
How to get PMEGP Loan
Earlier, one could apply for the Prime Minister Employment Generation Program both online and offline, but after 2016, this scheme was changed and this scheme was made completely online. You can apply the form for Prime Minister Employment Generation Program by clicking on the link given below.
PMEGP Loan Age Limit
For the Prime Minister’s Employment Generation Program, the applicant must be an Indian and above 18 years of age. There is no maximum age limit.
PMEGP Loan Customer Care Number (PMEGP Loan Helpline Number)
In case of any inconvenience, you can get information related to Prime Minister’s Employment Generation Programme.
For this you can take help of email as well as contact number.
Website Address – https://www.udyami.org.in
Contact Number – 07526000333, 07526000555
Conclusion (How to apply PMEGP Loan online)
Friends, today we learned how one can get subsidy from the government for new business through the Prime Minister’s Employment Generation Programme. And we learned what is PMEGP loan. And who knows how you can do your own business by getting assistance from the government. Many such schemes are run by the government in the national interest. But due to lack of information we are not able to take advantage of them.
That is why today we gave you complete information about the Prime Minister’s Employment Generation Program such as What is PMEGP Loan (PMEGP Loan Scheme Details), How to get PMEGP Loan (How to apply PMEGP Loan).
Almost every possible information has been given in this post. If you still need any kind of information about PMEGP, you can ask in the comment box.
If any of your friends or relatives are thinking of doing any business then definitely tell him about this business. So that they can start their business by taking assistance from the government. Please share this post with your friends.
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