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No Fear No Favour

SBI is giving loan up to ₹10 Lakh for Startup Scheme: Know how to claim it

By Line: Shivendra Pandey

For every brilliant idea there is a need of investment and investment requires assets. What if someone has a brilliant startup idea but doesn’t have fund to initiate his own startup. In that case, a moneyman will employ him on salary basis to his firm and will use his idea to increase his profit. What an idea initiator gets is something equals to 0.01 per cent of the total profit that a moneyman is earning via his idea.

Now Modi Government has taken this matter as a great concern for developing entrepreneur sector. Modi government with the affiliation of top most nationalised bank i.e. State Bank of India is offering loan of upto ₹10,00,000 via Mudra Yojana. The loan under Mudra Yojana is subcategorised into three sub-divisions. First is Shishu categorya, Second is Kishore category and third is Tarun Category. This loan facility according to Mudra Yojana can availed through approximately every State Bank of India branch across country.

According to Shishu Category, one can extract a loan amount of upto ₹5,00,000 from State Bank of India, ₹50,000-5,00,000 loan via Kishore category and loan amount of ₹10,00,000 via Tarun category. There is no processing fee in Shishu and Kishore category but 0.50 percent processing fee is applicable on Tarun Category.

For more and latest update visit link: Mudra Loan

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