Mahila Udymi Yojana: ₹10 Lakh Business Loan Scheme for Women without Any Guarantee, Check Application Process

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Mahila Udymi Yojana provides women entrepreneurs loans up to Rs 10 lakh to start their businesses, promoting self-reliance and empowerment in India.

  • Mahila Udymi Yojana provides loans up to Rs 10 lakh for women entrepreneurs.
  • Available at low interest rates and does not require mortgage of property.
  • Key eligibility criteria include women ownership and a solid business plan.

What is Mahila Udymi Yojana

Mahila Udymi Yojana is designed to foster entrepreneurship among women by offering them a financial boost to start their own businesses. Through this scheme, women can access loans of up to Rs 10 lakh at affordable interest rates, thereby enabling them to embark on their journey towards self-reliance.

Who is Eligible to Apply?

To qualify for the Mahila Udymi Yojana, the following criteria must be met:

  • Applications are only accepted from women who own and register their business.
  • If a business is not registered, a detailed business plan should be prepared.
  • In cases of partnership, women must hold at least 51% ownership in the business.
  • This opportunity is available to women across all states in India.

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Unique Features of the Scheme

One of the standout features of Mahila Udymi Yojana is that it provides financial assistance without the need for collateral. Other notable aspects include:

  • Women can secure loans up to Rs 10 lakh.
  • If there’s a need for a larger investment, up to 25% of the total expenditure or Rs 25 lakh can be availed.
  • Loan repayment can be structured over 5 to 10 years.

Required Documents for Application

Eligible women must prepare and submit the following documents when applying for a loan under this scheme:

  • Aadhaar card
  • PAN card
  • Last 9 months bank statement
  • Copy of the Income Tax Return (ITR)

How to Apply for the Loan

Women interested in applying for the loan can approach any bank participating in the Mahila Udymi Yojana. Here’s how to go about it:

  • Visit your preferred bank and inquire about the Mahila Udymi Yojana.
  • Obtain and complete the loan application form.
  • Submit the completed form along with the required documents.
  • Await approval from the bank for financing your business venture.

By empowering women entrepreneurs through the Mahila Udymi Yojana, many women will gain the confidence and resources needed to turn their business ideas into reality.

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