How to Apply PMEGP Loan Online 2024?- Complete Process

The applicant can go to the official website to Apply PMEGP Loan Online 2024. The Government of India launched the PMEGP loan scheme online in 2024. The PMEGP loan scheme will provide financial assistance to the citizens of India so that they can start their businesses. Financial assistance will be given to the financially unstable citizens of India who want to start their small businesses. All the applicants who clear the eligibility criteria can fill out the application form to apply for a PMEGP loan. The application form for the PMEGP loan is easily available on the official website.

Overview of PMEGP Loan Online Apply

To help the citizens of India who want to start there a small-scale or medium-scale business in India the Government of India launched the PMEGP Loan Online 2024. The PMEGP loan scheme 2024 will provide a loan of up to INR 25 lakh to the citizens of India who want to start their businesses. The amount for the loan will be directly transferred to the selected applicant’s bank account. Applicants who clear the eligibility criteria can fill out the application form to apply for the PMEGP loan online in 2024. With the help of the PMEGP loan the citizens of India can start their small-scale business.

Also Read: PMEGP Scheme List 

The objective of PMEGP Loan

The main objective of launching the PMEGP loan is to provide financial assistance to citizens who want to start their own businesses in India. With the help of financial assistance from the PMEGP loan, the citizens of India can buy raw materials and commence their business. This scheme will create employment opportunities for the unemployed youth in India. The PMEGP Loan scheme will encourage citizens of India to start their own businesses by providing capital funds. The citizens of India who clear the eligibility criteria can fill out the application form to avail the benefits of a PMEGP loan.

Key Highlights of PMEGP Loan

Eligibility Criteria

• The applicant must be above the age of 18 years.
• The applicant must have cleared the class 8th examination.
• The applicant must be a business owner or entrepreneur in India.
• Applicants who belong to the charitable trust and self-help group are also eligible to apply.

Benefits of PMEGP Loan

• The selected applicants will get a loan of up to INR 25 lakh PMEGP Loan scheme.
• The loan amount will be transferred directly to the selected applicant’s bank account.
• With the help of the loan, the applicant can start their own small-scale or medium-scale business in India.
• With the help of the loan, the applicant can start their own business which will create employment opportunities for the youth of India.
• The PMEGP loan scheme will help to increase the GDP of India significantly.

Also Read: MY Bharat Portal 

Required Documents

• Duly filled application form with passport-length picture
• Project documents
• Identity and deal with proof of the applicant
• Aadhar card
• 8th pass certificate, PAN card
• Special category certificate, if important
• EDP certificate of training
• Caste certificate
• Academic and technical path certificates, if any
• Applicants can do PMEGP registration with the aid of filing an application form on the PMEGP e-portal.

PMEGP Loan Interest Rate

• The interest rate under the PMEGP loan is 11% to 12% according to the amount of loan that the applicant has taken.

Duration of PMEGP Loan

• The Repayment tenure of the PMEGP loan is 3 to 7 years depending upon the amount of loan that you have taken.

Implementation Process

• The applicant first fills out the application form on the official website of PMEGP.
• If the applicant is selected for the PMEGP loan he will receive a message from the authorities.
• The loan amount will be transferred directly to the bank account.

How to Apply PMEGP Loan Online 2024

• To apply for a PMEGP loan online 2024 the applicant can go to the official PMEGP website by clicking the link here.

• On the homepage click on the option Application For New Unit.

• A new page will appear on your screen.
• Fill out all the details that are asked and attach all the necessary documents.
• Click on the option Save Applicant Data to complete your process.

Contact Details

• pmegpeportal.kvic@gov.in

FAQs