How to Get PMEGP Instant Loan for Employment, 35% Subsidy

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PMEGP Instant Loan: The Government of India provides loans up to Rs 50 lakh to unemployed youth under the Prime Minister's Employment Generation Program (PMEGP). The objective of this scheme is to provide employment opportunities to aspiring entrepreneurs by helping them start their own businesses.

The Indian government's Prime Minister Employment Generation Program (PMEGP) aims to empower unemployed youth by offering loans of up to 50 lakhs, fostering entrepreneurship and employment opportunities.

DescriptionInformation
Origin of the planIndia
Eligibility18+ years, graduate, unemployed
money20 – 50 lakhs
industry type20 – 25 Lakh (Service/Manufacturing)
subsidy15 – 35%
Interestbased on banks
documentAadhaar, PAN, Certificate, Report, Photo
Websitekviconline.gov.in
Help1800-258-0151

How to Get PMEGP Instant Loan

How to Get PMEGP Instant Loan for Employment from 20 to 50 Lakhs with 35% Subsidy

Eligibility Criteria

Unemployed individuals over 18 years old are eligible to apply, with no upper age limit. The minimum educational requirement is completion of the 8th grade. Priority is given to those who have undergone formal training in entrepreneurship.

  • Any unemployed person above 18 years of age
  • No upper age limit
  • At least 8th class passed
  • Preference to those who have received formal training in entrepreneurship development programs

Loan Range

The program offers loans ranging from 20 lakhs to 50 lakhs, determined by the project cost. For service sector units, the maximum project cost is 20 lakhs, while for manufacturing units, it is 25 lakhs.

  • Rs 20 lakh to Rs 50 lakh
  • For service sector units: Maximum Rs 20 lakh
  • For manufacturing units: Maximum Rs 25 lakh

Interest Rates

Interest rates vary across different banks and lending institutions. The applicable rate will be communicated at the time of loan approval.

  • Varies according to banks and lending institutions
  • Disclosure at the time of loan approval

subsidy

The government provides a subsidy of 15% to 35% on the loan amount. Applicants are required to contribute between 5% to 10% of the project cost.

  • from 15% to 35%
  • 5% to 10% contribution to applicants

Required Documentation

Applicants must submit their Aadhar card, PAN card, educational certificates, training certificates (if applicable), project report, photographs, and a duly filled application form.

  • Aadhar card
  • PAN card
  • education certificate
  • Training Certificate (if any)
  • project report
  • photos
  • Duly filled application form

Application Process

To apply, individuals can visit the official PMEGP website, complete the online application form, and upload the necessary documents. After submission, they will receive a registration ID. Alternatively, applicants can apply offline by submitting the application at the nearest bank branch.

  • Visit the official PMEGP website
  • Fill the application form online by providing all the details
  • Upload scanned documents
  • Submit Application and Get Registration ID
  • Apply offline also by submitting the application at the nearest bank branch

PMEGP instant loans aim to help aspiring young entrepreneurs across India set up their businesses.

for more information:

Apply today and start your own business!

The PMEGP instant loan is designed to support aspiring entrepreneurs in India as they endeavor to establish their own businesses.

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