Pradhan Mantri Rozgar Yojana is a Government scheme where Unemployed youth between the age of 18 to 35 will be able to get a Loan of Max 10 Lakh rupees to start their own business.
What is Pradhan Mantri Rozgar Yojana?
In the year 2020, the Pradhan Mantri Rojgar Yojana was launched. This Government scheme is launched for the Unemployed youth to provide financial support so they can start their Business or find Self-employment opportunities.
Under the PM Rojgar Scheme government will provide loans of up to 10 lac rs with a tenure of 3 to 7 years.
The interest rates of PMRY are very low as compared to a normal business loan that banks offer for the same purpose.
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PMRY Loan is available to obtain from India’s top banks and financial institutions.
Features of Pradhan Mantri Rozgar Yojana
The purpose of Pradhan Mantri Rozar Yojana is simple: To provide career opportunities to the Unemployed youth.
So if the applicant wants to avail of a loan to start a business then he/she can obtain a loan under this scheme from the banks or financial institutions.
Here is the rest of the Features, Key points, Benefits & Objectives of this Government scheme:
- The Aim here is to provide financial support to those youth who have dreams of starting their own business but due to financial problems can’t do it.
- PMRY Yojana provides a loan of a maximum of ₹ 10 Lakh.
- The PMRY loan tenure will be between 3 to 5 years. It depends on your EMI installment and the loan amount that you borrowed.
- The government also provides a maximum of 15% subsidy on the cost of starting your business.
- The Maximum subsidy that can be attained is 12,500 rupees per applicant.
- The interest rates are very low as compare to other business loans that offer normally.
- Collateral-free loans are also available if you are seeking below 1 Lakh Rupees in this Yojana.
PMRY launched date, Official site & more
PMRY Yojana was launched on date 1993 and it modifies multiple times.
Recently it was modified by Prime minister Narendra Modi to offers more benefits and reset the eligibility criteria.
Now it offers a 10 Rupees loan.
If you want to more about this scheme you can head over to the official page https://dcmsme.gov.in/schemes/pmry.html where you will learn more about Pradhan Mantri rozgar yojana.
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Who is eligible to Apply
This scheme is for unemployed youth, However, that’s not the Eligibility requirement.
The main purpose of this scheme to Help youth to become financially stable by helping them to start their own business.
To Apply for PMRY Loan you have to fulfill these criteria:
- Your age should be between 18 to 35 years. However, if you belong to SCs or STs the upper age limit is 45 years.
- The minimum educational qualification to apply for this loan is 8th standard. You should have a certificate of Passing at least 8th standard.
- The area you have given in the application to apply for a loan; you should be a permanent resident there at least for 3 years.
- All of your family income should not exceed 1 lakh. However, it should be a minimum of forty thousand rupees at least to Apply.
- Defaulters of any nationalized financial institutions are not eligible.
How to Apply for PM Rozgar Yojana
In this part, you are Going to learn that How to Apply for this Scheme, the Document which is required to Apply online, How to Download the Application form for registration and how to Check your status once you successfully applied.
PMRY Required Documents
To Avail, Prime minister Rozgar loan the Document requirement can differ, depending on the financial institution from where you are borrowing the loan.
However, there are a few necessary documents.
- Your Identity card, Aadhard card.
- Pan is also required. In case if you do not have a card, the application receipt for Applying can be accepted.
- Cast and income certificates.
- Bank account documents.
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Download Pradhan Mantri rozgar yojana application form
If you want to apply for this scheme you can visit your nearest Financial institutions, Bank and query regarding this loan.
They will offer the Application which you can submit along with the necessary documents to apply for a loan from there.
You can also, of course, Download the Pradhan Mantri rozgar yojana Application form from the official site.
Use this link to download the Application form. Once Downloaded, Print it, Fill up and submit to the bank from where you want to avail of the loan.
Pradhan Mantri yojana 2022 online registration
The loan under this scheme is offered by the banks.
So,
Pradhan Mantri yojana 2022 online registration can be initiated from the Bank’s official site.
The process is different for each bank, But most of the bank offers Online registration for a loan.
You can contact the customer care of your bank to know more about it.
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FAQ
When prime minister rozgar yojana was started in?
The PM rozgar Scheme was started way back in 1993, From that time this yojana was modified multiple times.
What is prime minister rozgar Yojana launched date?
The year 1993 was the launch date of prime minister rojgar yojana
How to get pmry loan online application form?
You can download it from PMRY official government portal or Your bank’s website.
Can I get pmry scheme for a home loan?
No, it is applicable only if you are going to start a business from it.
What is the PMRY scheme’s official website?
The official site of PMRY is dcmsme.gov.in. You can visit the portal using a Mobile or Web browser.
Final Words
So that’s everything about Pradhan Mantri Rozgar Yojana.
If you have any Questions regarding this Government scheme you can ask in the comment section.
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