PMEGP Loan Apply Online 2024: Intrest Rate, Document and Benefits

PMEGP LOAN: The central government has started the PMEGP loan scheme to employ the unemployed youth of the country. Anyone can start their own business by joining this scheme. Money is needed to start a business and due to this lakhs of people are not able to start their business because they do not have financial support.

If you go to the bank to get a business loan, then you have to visit the bank for many days and the bank provides you a loan at an interest rate between 8% to 14%. Because of this problem of the youth, the central government has decided to give a loan of up to 25 lakhs. From now on, any youth can start his own business by joining the Pradhan Mantri Rojgar Srijan Program.

To take advantage of this scheme, the candidate has to apply online. If you also want to join this scheme, then in this article further, we are going to provide you with step-by-step information about PMEGP Loan Online Apply 2024.

What is the PMEGP Loan Scheme?

Unemployment is increasing rapidly in the country. Today every youth is either looking for a job or wants to start his own business. Getting a job is not an easy task because there are limited jobs in every sector but the number of people working is increasing every day and everyone needs money to start their own business, so the central government has started the PMEGP Loan Scheme to make the youth self-reliant.

Any candidate can apply for this scheme online. To apply, the age of the candidate should be more than 18 years. Under this scheme, not only loan is provided to the beneficiary but also every kind of financial assistance is given. Along with this, the beneficiary is provided training about business. Under the business, complete training is provided about marketing strategy, and product.

During the training, 8000 Rupees is also provided to the beneficiary and a certificate is also given after completion of the training. With the help of that certificate, the candidate can get a job in any government or private institution or can start his own business.

The PMEGP is a flagship scheme initiated by the Government of India to facilitate the generation of sustainable employment opportunities by establishing micro-enterprises in the non-farm sector. Central to this scheme is providing financial assistance through loans to individuals or groups keen on venturing into entrepreneurship.

Objective of PMEGP Loan Scheme

The rate of unemployment in the country is increasing day by day. Whether you are from a rural area or an urban area, you have to face unemployment everywhere, so in such a situation, the government is encouraging unemployed citizens through this scheme to do their employment.

You can get a loan of up to Rs 25 lakh by joining this scheme and start your business with the amount of that loan. When you start earning profit from the business, you can repay the loan amount. By doing this you become self-reliant.

The central government has decided to extend this scheme till the budget of 2025-26. Recently the central government has allocated a budget of about Rs 14000 crore for this scheme and under this scheme, about 40 to 50 lakh citizens will be provided loan amounts to start their businesses. 

The loan taker can be any small or micro businessman. Recently, the central government has also decided to increase the loan amount from 25 lakh to 50 lakh, which will be implemented soon the special thing about this loan scheme is that the applicant will also be provided a subsidy of up to 25% on the loan amount.

Benefits of PMEGP Loan Scheme

Anyone who wants to start their own business is provided a platform through this scheme.

• Under this scheme, unemployed youth are provided loan amounts up to Rs 25 lakh.
• A subsidy of up to 25% on the loan amount is also given by the government.
• Residents of rural and urban areas of the country will get the benefit of the PMEGP loan scheme.
• Interested youth can apply online for this scheme.

Documents required for PMEGP Loan Scheme –

Before applying for the PMEGP Loan Scheme, you must have all the necessary documents mentioned below.

• Aadhar Card
• PAN Card
• Bank Passbook
• Domicile Certificate
• Caste Certificate
• Ration Card
• Business Certificate
• Mobile Number
• Passport Size Photo

Eligibility for PMEGP Loan Scheme

For any candidate who wants to apply online for the PMEGP Loan Scheme, first of all, he has to fulfill the criteria given below.

• For this scheme, the candidate must be a resident of India.
• Any citizen of the country, whose age is more than 18 years, is eligible for this scheme.
• All residents of rural and urban areas of the country will be considered eligible for this scheme.
• If anyone has been doing his business for some time and wants to take that business forward, then he will not be given the benefit of this scheme.
• If any candidate is getting the benefit of subsidy before this scheme, then he will not get the benefit of the PMEGP Loan Scheme.
• To take advantage of this scheme, the candidate should have a business certificate and complete planning of the business.

PMEGP Loan Scheme Subsidy

The special thing about the PMEGP loan scheme is that you are provided a loan of up to 25 lakh Rupees and you are also given a subsidy on this loan amount, so let us now know which categories of youth will be provided subsidy.

Through this scheme, up to 25% subsidy will be provided to the youth of rural areas of the country and up to 15 percent subsidy will be provided to the residents of urban areas. In this, you will have to pay the remaining money yourself along with interest.

Special exemption has been provided to ex-servicemen of OBC, SC / ST category. Ex-servicemen falling under this category will be provided a subsidy of up to 35% and ex-servicemen of the rural area will be provided a subsidy of about 25% even before starting the business.

PMEGP Loan Scheme Online Apply 2024

If you are also thinking of starting your own business and you have complete business planning, then you can apply online for this scheme. The process of applying online is as follows.

1. First of all, the candidate has to search the official website of PMEGP https://www.kviconline.gov.in/ on Google.
2. Click on the link of “Application For New Unit” on the Home Page.

3. After this, the complete application form opens in front of you for personal application.
4. In the application form, you have to enter important information like your name, Aadhar card number, qualification, mobile number, email ID, PAN number, and bank account.

5. Now you have to click on the button of “Save Application Data”.

In this way you can do “PMEGP Loan Scheme Online Apply 2024” from mobile.

How to apply for a second loan in PMEGP?

For your information, let us tell you that you can also apply for a second loan under this loan scheme. To take a second loan, you have to follow the steps given below.

1. First of all, you have to go to the official website of PMEGP https://www.kviconline.gov.in/.
2. On the home page, you have to click on the link “Application For Existing Units (2nd Loan)”.

3. After this, you have to click on the link “Online Application”.
4. In the application form, you have to enter your name, Aadhaar card number, mobile number, email ID, PAN number, and information.

5. Here you also have to enter your industrial Aadhaar registration number, which was provided to you while taking the first loan.
6. Now you have to click on the “Next” button.
7. After this, you have to scan and upload all your necessary documents one by one.
8. Finally, you have to do “Final Submit”.
9. In this way, you can do “PMEGP Loan Scheme Online Apply 2024” for the second time from mobile.

For your information, let us tell you that both the schemes have been created by combining Pradhan Mantri Rojgar Srijan Karyakram Yojana and Pradhan Mantri Rojgar Yojana and both these schemes are constantly trying to encourage the unemployed youth of the country towards employment.

Conclusion

For all the youth of our country who want to apply online for “PMEGP Loan Scheme Online Apply 2024”, we have told the complete process in this article. To apply online, you have to take the help of the official portal. With the help of the official portal, you can easily apply online for the PMEGP loan scheme.

So far, lakhs of people have applied online for this loan scheme and loan amounts have also been provided to lakhs of people even people have started their businesses with the loan amount, so in such a situation, you can also apply online for this scheme through your mobile and get a loan of up to Rs 25 lakh.

If you face any problem in taking a loan, then you can go to the official website of PMEGP and register your complaint with the help of the helpline number or you can tell us by commenting.

We hope that you all will have liked our article. You can share our article PMEGP Loan Scheme on as many social media platforms as possible.

FAQs- PMEGP LOAN

1)- What is the PMEGP Loan Scheme?

PMEGP Loan Scheme is a scheme run to provide loans up to Rs 25 lakh to the unemployed youth of the country. Through this scheme, a loan amount is provided to the youth to start their own business, and a subsidy is also given. The loan repayment period is between 5 to 7 years.

2)- How much subsidy is available in the PMEGP Loan?

The central government provides financial assistance to the candidate applying online under the PMEGP Loan Scheme. For financial assistance, a subsidy ranging from 15% to 35% is provided to the beneficiary. That is, if any candidate applies online for this scheme, then he is provided a loan of up to Rs 25 lakh, and a subsidy of up to 35% is given in the amount of 25 lakhs.

3)- How to apply online for a PMEGP loan?

• First of all, the candidate has to search the official website of PMEGP https://www.kviconline.gov.in/ on Google.
• On the home page, you have to click on the link “Application For New Unit”.
• After this, the complete application form opens in front of you.
• In the application form, you have to enter important information like your name, Aadhar card number, qualification, mobile number, email ID, PAN number, and bank account.
• Now you have to click on the button of “Save Application Data”.

In this way, you can do “PMEGP Loan Scheme Online Apply 2024” from mobile.