PMEGP Loan :- Up to Rs. 25 lacs
The PMEGP loan scheme is implemented by Khadi and the Village Industries Commission (KVIC), which functions as the nodal agency at the national level. The Prime Minister’s Employment Generation Program provides business loans up to Rs 25 lakh. On the portal, guidelines have been provided for the PMEGP project. One can get the project list over there. For a PMEGP loan, you have to submit a DPR, i.e., a detailed project report, to the bank. Afterwards, you have to submit a PMEGP online application to apply for a loan. The online application generally takes more than one month to get approved. A PMEGP loan is provided as a term loan. The loan interest rate may vary from 10% to 13%. In PMEGP, loan subsidies are provided to all castes. The subsidy amount may vary from 25% to 35%.
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