People want to start their own business but due to lack of money, they have to face many difficulties. Although Modi government has a scheme , the country’s largest bank SBI gives a loan upto Rs 10 lakh business.
Under the Pradhan Mantri Mudra Yojana , a loan up to Rs 10 lakhs is given in different 3 categories by SBI. This loan is in three categories: infant, Kishor and Tarun.
Infant Loans are available up to Rs 50000, whereas Kishor loans are available from 50 thousand rupees to 5 lakh rupees. Similarly, under the third category Tarun, SBI provides loans ranging from Rs 5 lakh to Rs 10 lakh.
Processing fees for infant and Kishor categories are free, while processing fee for Tarun loan category is charged at 0.50% of the loan amount.
SBI gives currency loan to those people who want to start a business. People who started the new unit can also take loans under this scheme.
These loans are given by almost every branch of SBI. Person taking loan should not be a defaulter declared by any financial institution. If the loan seeker has taken training from the rural self-employment training institute then the loan seeker is given priorityClick here for the currency loan information – https://www.sbi.co.in/portal/web/sme/pm-mudra-yojana