Mahila Loan Scheme for Women

Pradhan Mantri Mahila Loan Yojana Scheme

Narendra Modi government is serious with women entrepreneurship. They know is only possible when businesswomen can get a business loan without hassle. There are plenty of pm loan schemes for businesses to make it happen and mudra loan in one of them. The best part if four out three are women who are getting the benefit of loan for ladies from government (PM mudra loan).

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What is Mudra Loan Scheme?

The full form of Mudra loan is Micro Units Development Refinance Agency which started in 2015 by Pradhan Mantri, Narendra Modi. The good thing about mudra loan is people are not only getting a loan to grow their business but also in MSME sector they are getting a business loan for a startup.

According to PMMY mudra loan scheme for ladies, female entrepreneurs can avail of up to 10 lakh mudra loan from 27 Government Bank, 17 Private Bank, 31 Gramin Bank, 4 Sahkari Bank, 36 Micro Finance Institute, and 25 NBFCs.

The Goal is Women Empowerment

Government is more interested to provide business loan for women since the mudra women loan scheme has launched. In fact, this is the reason out of four mudra loan applicants three are women. According to Finance Minister Nirmala Sitaraman, to date Rs.1.62 Crore rupees have been disbursed through a mudra loan scheme.

To get relief small business owners have reduced the Shishu mudra loan interest rate for ladies by 2%. They are expecting 3 Crore people will get the benefit of interest rate deduction.

Types of Mudra Loan Yojana for Women

With the help of the Mudra loan scheme, the government wants to speed up the MSME sector growth. They are offering business loan in three categories.

  • Shishu Loan: Under the SHISHU loan scheme, the entrepreneurs can avail of a loan of up to Rs. 50,000.
  • Kishor Loan: Under the Kishor MUDRA loan scheme, the business owner can avail of a business loan of up to Rs. 5 lakhs.
  • Tarun Loan: Under this scheme female entrepreneurs can get a business loan from 5 lakh to 10 lakh.

To avail mudra yojana scheme for women, businesswomen will have to fulfil mudra loan eligibility. They can apply for mudra loan yojana online and offline. If you want to get a business loan for women fast, then Ziploan is offering a business loan up to 7.5 lakhs without collateral in just three days*.

Mudra Loan for Womens Eligibility

To take benefits of ladies loan scheme you must fulfill the MUDRA loan eligibility for women is as follows:

  • The borrowers should be Indian citizen.
  • The loan requirement should not range more than Rs. 10 lakhs.
  • The enterprises generating income from farming activities, cannot apply for the Modi scheme for women's loans 2020-21.
  • Small enterprises in rural, as well as urban areas, can apply for PPMY (Pradhan Mantri Loan Yojana).

Documents Required to Avail Mudra Yojana for Women

To avail pradhan mantri loan scheme for ladies you will need the following documents:

  • 2 Photographs
  • Self-attested photocopy of identity proof (Aadhar Card, Pan Card, Voter ID, Passport, Bank Passbook, Driving License, etc.)
  • Self-attested photocopy of address proof like Aadhar card, Residential Proof, Electricity Bill, Water Bill, etc.
  • Photocopy of last three months bank statement.
  • Business address proof.
  • Inventory bill (it will require when you want mudra loan to buy machinery.)

There is plenty of other modi scheme for women which offer a business loan for women at low interest.

How to Apply for Pradhan Mantri Loan Yojana for Ladies Offline

The applicant who is interested in a woman loan yojana can fill the Pradhan Mantri MUDRA yojana application form from any of the banks listed under the scheme.

The following are the steps for how to apply for MUDRA loan yojana:

  • Step 1 - Visit the nearest bank listed under the mudra loan scheme.
  • Step 2- Present the business plan or idea.
  • Step 3- Submit the duly filled MUDRA loan application form.
  • Step 4- Provide additional documents, such as identity and address proof, company address proof, balance sheets, caste certificate, IT returns, sales tax, etc.
  • Step 5- Complete all other formalities of the bank.
  • Step 6- The documents submitted, along with the MUDRA loan application, will be verified.
  • Step 7- If the borrower meets all the formalities, the loan will be sanctioned.

How to Fill Mudra Loan Online Application 

Interested borrowers in prime minister loan scheme for ladies can simply visit the official website of the 29 banks; the business loan application forms are available online. The following are the steps to apply for Pradhan Mantri MUDRA Yojana:

  • Step 1: Download the MUDRA loan application form.
  • Step 2: Simply fill the application form with relevant and correct information.
  • Step 3: Find the public or private bank.
  • Step 4: Finish the formalities.
  • Step 5: Once the borrower completes this process, the loan will be sanctioned.
There are several other government loans for women which womens' can take benefit of.

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