PMEGP Loan Scheme 2023 Subsidy Application Form kviconline.gov.in

Get latest information on PMEGP Loan Scheme 2023Subsidy Application Form kviconline.gov.in and Eligibility Criteria Guidelines benefits and Bank List with Documents required

PMEGP (Prime Minister Employment Generation Programme) is a loan subsidy scheme launched by government of India. Under this scheme government will provide loans to people on cheap Interest rate. The main objective to launch this scheme is to encourage people to start their own small business.

As we all know because of Covid-19 many people has lost their jobs because of companies has been closed. So now government wants to help people for starting their own business by giving them subsidized loan.

PMEGP Loan Scheme 2023

Under PMEGP loan scheme people would have to start their business by investing 5 to 10% of project cost and rest amount would be given by government as loan on subsidy. The loan tenure range would be 3 to 7 years. In our article we will provide all information about this scheme so read this carefully till the end.

• Scheme Name : PMEGP Loan Scheme 2023 [Prime Minister Employment Generation Programme]
• Launched by : Government of India
• Launched Year : 2020
• Beneficiaries share of total project : 5% to 10%
• Subsidy rate for Urban Areas : 15% to 25%
• Subsidy rate for Rural Areas : 25% to 35%
• Beneficiaries : People of India
• Benefits : To provide loan on subsidy to people
• Official Portal : www.kviconline.gov.in

Paperwork Needed

Here is full list of documents required for PMEGP loan given below :

• Project or Business Detail for what you want to take a loan
• Copy of Aadhar card of Applicant
• Copy of PAN card of applicant
• Permanent address proof
• General and special category Certificate of applicant
• Educational and skill development Certificate of applicant
• Urban or Rural Area Certificate

PMEGP loan scheme eligibility

Here is full eligibility criteria description given below :

1. Any Person who want to take a loan under PMEGP loan must be 18 years complete or above.
2. Applicant must be at least 8th passed if he/she wanted to establish a manufacturing unit by spend 5 lacs or 10 lacs.
3. Applicant must be permanent resident of India.
4. Charitable trust can also apply for this loan
5. Production co-operative societies are also eligible for this loan.

Benefits of PMEGP (Prime Minister Employment Generation Programme) Loan

Here are some major benefits of this scheme given below:-

• PMEGP loan scheme will provide loan on subsidized interest rates to settle micro businesses in urban as well as in rural areas.
• With the help on PMEGP loan scheme youth will be self employed in urban as well as in rural areas.
• This will Increase the growth rate of urban and rural areas of the country.
• After your loan application approved government will give 95% on project cost for weaker sectionpeople and 90 % on project cost for general applicants.
• The maximum project cost could be up to 25 lacs under PMEGP loan scheme.

Bank List of PMEGP loan Scheme

1. HDFC Bank
2. Axis Bank
3. Indian Bank
4. ICICI Bank
5. CANARA Bank
6. IDFC First Bank
7. UCO Bank
8. Kotak Mahindra Bank
9. Bank of India
10. Andhra Bank
11. Union Bank of India
12. Allahabad Bank
13. Bank of Baroda
14. Punjab National Bank
15. State Bank of India
16. Central Bank of India

PMEGP Loan Scheme Subsidy Application Form

1. Go to official portal of the scheme www.kviconline.gov.in .
2. On home page click on PMEGP option.
3. By clicking on PMEGP option you will get official page of this scheme.
4. Now on newly opened page click on online Application form. You will get registration form.
5. Now enter your Aadhar Number can click on validate Aadhar.
6. Now select sponsoring agency, state, district, legal type, gender, DOB, social category etc.
7. Select your qualifications and full address.
8. Enter your pan number and mobile number and email address.
9. Now choose your unit location full address.
10. Enter industry and production description
11. Next enter EDP training institute name and project cost.
12. After that enter bank details such as branch office, IFSC code, District etc.
13. After entering all necessary details click on declaration box below.
14. Verify all details and save application form.
15. After saving application form you would have to uploaded all necessary documents.
16. Then you will be able to get your ID and password on your registered mobile number.

Procedure to apply offline for PMEGP Loan

You can apply same way as you apply online. You need to download application form from official portal www.kviconline.gov.in. Now you can take a printout of it and fill this very carefully as you have filled it up above in online application form. Attach all important documents with this application form and submit it to your nearest concerned office.

PMEGP loan scheme subsidy

• Please visit official portal www.kviconline.gov.in
• On home page choose login option.
• Now you have to entered your ID and password
• You application form will appear in front of you click on view status Button to check your status.

FAQ