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PMRY Loan Yojana | Eligibilty | Online Application Form | Online Link

PMRY Loan

Government of India has started PMRY Loan Yojana under which loans will be provided to the unemployment youth of the country by the banks for starting up low interest rate business. To apply online for PMRY Loan Application Form, candidates must check out the eligibility first and then apply through the online link.

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Pradhan Mantri Rojgar Yojana Loan – Highlights

Age18 to 35 years
Educational QualificationMinimum 8th grade pass
Rate of interestNormal rate determined by bank
Payback timeThree to 7 years after initial moratorium time has expired
Family IncomeThe annual income of the family should not exceed Rs 40,000
The ResidenceThe permanent residence of the beneficiary must be at least 3 years old
Loan DefaulterThere should not be a loan defaulter of any nationalized financial institution / bank / cooperative bank
Subsidy and Margin MoneySubsidy will be limited to 15% of the project cost subject to ceiling of Rs. 7,500 per borrower
CollateralNo collateral for project up to Rs.2 lakh
ReservationWeaker sections (SCs/STs), including women

PMRY Loan

PMRY Loan Eligibility:

  • Age of the applicant should be from 18 to 40 years.
  • Applying candidates must have passed at least 8th class.
  • Permanent residence certificate of the candidate should be 3 years old.
  • 10 years of age relaxation has been given for women, ex-servicemen, disabled, SC / ST category people, i.e. these people can apply for the next 10 years even after the age of 35.
  • Family monthly income of the applying person should not exceed 40 thousand.
  • Applicant should have not taken loan from any bank before.

Read Details of: Pradhanmantri Aatmnirbhar Bharat Rojgar Yojana

Industries to be covered under PM Rozgar Yojana:

  • Mineral based industry
  • Forested industry
  • Agro based and food industries
  • Chemical based industry
  • Engineering and non-conventional energy
  • Clothing industry (Except Khadi)
  • Service industry

Interest Rates under PM Rozgar Yojana Loan:

Interest rate will be charged different on different amount:

If the loan is taken under PMRY Loan Yojana, then beneficiary have to pay 12% interest on Rs. 25000, 15.5% interest from Rs. 25000 to Rs. 100000 and as the amount of loan increases, the interest rate will also increase.

Check Out: Government Schemes Toll Free Number

Pradhan Mantri Rozgar Yojana Loan – Important Facts:

  • Beneficiaries will get 10% to 20% subsidy by the Central Government.
  • Women of economically weaker section and unemployed youth can take benefits of this scheme.
  • Total cost of the business that will be started by the unemployed youth should not exceed 2 lakhs.

Documents Required:

  • Aadhar Card
  • Income certificate
  • Caste certificate
  • Identity card
  • Description of the business to be started
  • Mobile number
  • Passport size photo

Read About: Abhinandan Education Loan Subsidy

PMRY Loan Online Apply Process:

To fill online PMRY Loan Application Form, individual needs to follow these steps:

  • Candidates can visit the official website i.e dcmsme.gov.in to apply for this scheme.
  • After that, go for PMRY section and download the application form from there.
  • Fill all the asked details such as applicant’s name, Aadhar card number, mobile number, etc. in the form.
  • Attach all the required documents with the application form and visit to the bank from which you want to take the loan.
  • After that bank will verify your documents and will contact you in within 1 week.
  • After the verification process, bank will provide you loan for starting the business.
  • In this way, application process is completed.

Official Website: Prime Minister’s Rozgar Yojana (PMRY)

PMRY Loan Yojana Eligibility details, application form process and other necessary details is well mentioned on this page of recruitmentresult.com Individuals are advised to go through this for gaining complete knowledge about the scheme.

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