PNB Kishor Mudra Loan 2024: If you have started a business and you need funds to take it forward, then you can apply for PNB Kishor Mudra Loan, which is offered by Punjab National Bank under PM Mudra Loan Scheme.
PNB Kishor Mudra Loan 2024
Its interest rate starts from just 9.15% per annum. Under this loan scheme, you can get a loan ranging from Rs 50 thousand to Rs 5 lakh for business expansion.
In today’s article, we will provide you special information about PNB Kishor Mudra Loan 2024, in which all the information about the loan like interest rate, benefits, repayment period, eligibility criteria, documents required to take loan,
including the process of applying for PNB Kishor Mudra Loan 2024 Online will also be told so that you can easily apply for the loan. For complete information about this loan scheme, read this article completely.
PNB Kishor Mudra Loan Scheme 2024
Punjab National Bank provides Kishor Mudra Loan to its customers under the Pradhan Mantri Mudra Loan Scheme, which aims to help those citizens who want to take their business forward but are unable to expand the business due to financial constraints.
This bank is giving loans ranging from Rs 50 thousand to Rs 5 lakh to such customers under PNB Kishor Mudra Loan, whose interest rate starts from 9.15% per annum. You can easily repay this loan in a period of up to 7 years.
What is the purpose of PNB Kishor Mudra Loan Scheme?
As you know, the central government is offering loans to new businesses at cheap interest rates to promote self-employment. This loan is given at three levels under the Pradhan Mantri Mudra Loan Scheme. Which includes Shishu Mudra Loan, Kishor Mudra Loan and Tarun Mudra Loan.
These three loans are provided to the needy citizens through various banks and PNB also gives Kishor Mudra loan to its customers under this PM Mudra Loan Scheme so that new businessmen can get financial assistance in the form of loan to expand their business.
Interest rate and payment period of PNB Kishor Mudra Loan
If we talk about the interest rate of Punjab National Bank Mudra Loan Scheme, then the interest rate of this loan starts from just 9.15% per annum which can be a maximum of 12%. This loan is provided to the customers on the basis of their job profile and credit history and on this basis the interest rate is also applied.
On the other hand, talking about the payment period, the payment period of PNB Kishor Mudra Loan is maximum 3 years, but according to some policies, the applicant can get a relaxation of 2 years. On the other hand, if you take a loan of up to Rs 10 lakh under Tarun Loan from this bank, then you will be given a payment period of 7 years.
Who can take PNB Kishor Mudra Loan 2024?
People who have established their business but need more funds to expand their business can apply online for PNB Kishor Mudra Loan with a minimum loan amount of Rs 50,000 and a maximum of Rs 5 lakh.
PNB Kishor Mudra Loan Eligibility Criteria
The eligibility criteria for Punjab National Bank Kishor Mudra Loan are given below, customers fulfilling these criteria can apply for PNB Kishor Mudra Loan –
- Any individual, private limited company, sole proprietorship or partnership firm can apply for PNB Kishor Mudra Loan.
- The applicant should not be a defaulter in any bank or financial institution.
- The applicant can apply for PNB Kishor Mudra Loan Yojana for a business related to service, production or trading sectors.
- At the same time, agriculture related businesses such as fish farming etc. are also covered under this loan.
- PNB Kishor Mudra Loan requires that the applicant’s business is already established and running well.
- Businessmen aged 18 years or above can apply for PNB Kishor Mudra Loan.
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PNB Kishor Mudra Loan Documents Required
To apply for Punjab National Bank Kishor Mudra Loan, you need to supply the following documents –
- Proof of ID (Passport, PAN Card, Aadhaar Card, Voter ID Card, Driving License, Photo Credit Card) etc.
- Proof of Address (Aadhaar Card, Voter ID Card, Driving License, Telephone Bill, Electricity Bill, Water Bill) etc.
- 2 passport size photographs
- Proof of Minority, if applicable.
- Bank account statement of last 6 months
- Quotation of machinery for business etc.
- Un-audited balance sheet of last 2 years
- Sales and Income Tax returns etc.
How to apply for PNB Kishor Mudra Loan Online?
- To apply online for PNB Kishor Mudra Loan 2024, first of all visit the official portal of PNB.
- After going to the main page of the portal, go to the section of “Loan” and click on “Mudra Loan”.
- Click on the option of “Apply Online” given here.
- Now a new page will open, in this, select the option of “PNB Kishor Mudra Loan 2024”.
- After selecting, the application form of the scheme will open, in which personal information, banking details and business related information have to be entered carefully.
- After giving all the information, take a printout of this form and attach a copy of all the documents asked for with it.
- After doing this, go to the nearest Punjab National Bank branch and submit all the documents.
- After review, if all the information is found correct then your loan will be approved.
