PMEGP Scheme: Apply Online, Eligibility, Interest Rates, & Benefits

The Government of India has launched several schemes for the people in the past few years. It aims to boost self-reliance and one of the prominent schemes is the PMEGP Scheme. The full form of PMEGP is the Prime Minister Employment Generation Programme. Under this scheme, the Micro, Small and Medium Scale Enterprises can get a loan of up to 25 Lak rupees without any collateral. In this post, we shall discuss the PMEGP Scheme. You will find all the relevant details regarding this scheme in this post. For your quick navigation, we have provided an index as well so that you can find the most relevant section in this post.

Who Can Get a Loan Under PMEGP Scheme?

Unlike other schemes of the Government, the PMEGP Scheme is meant for individuals as well as organizations. Under this scheme, both individuals and organizations can get funding for their projects in the form of a term loan at subsidized rates. Here is the list of entities that can apply for a loan under the PMEGP Scheme:

  1. All the Indian individuals who are above 18 years of age.
  2. All the organizations based on Self Help do not receive support from any other Government Scheme.
  3. Every Institution is registered under the Societies Registration Act of 1860.
  4. All the Co-operative Societies involved in Production.
  5. All the Charitable Trusts.

In the case of individuals and organizations, they must not get benefits from any other Government schemes. In the case of individuals, they must have passed class 8th (if their project is in Manufacturing Sector) and class 5th (if their project is in the business sector or service sector).

1. List of Documents Required for Loan Under PMEGP Scheme

In this section, we have discussed the documents that you need to have to apply for the PMEGP Scheme. We shall also provide you with the details of why you need to provide those documents. Here is the list:

  1. Aadhar Card of the individual. (Aadhar Card of the Chairman, in case of an Organization).
  2. PAN Card of the individual (or Organization)
  3. The Detailed Project Report (DPR).
  4. The Individual’s Caste Certificate, if applicable.
  5. All the Special Category Certificates, if applicable.
  6. Educational Qualification Proof, if required.
  7. Skill Certificate, as required.
  8. Rural Area Certificate. if applicable.
  9. Authorization Letter, if the head of the organization is not applying himself.

That’s all. These are the only documents you must possess to apply for the PMEGP Scheme and get a finding for your project. If you want to know how to apply for the PMEGP Scheme, read the next section below.

How to Apply for Loan Under PMEGP Scheme?

If you are eligible for the PMEGP Scheme, then you must apply for it. However, there are two ways to do so – Online and Offline. Although we have discussed both the methods here in this part of the post, we would tell you to go for the online mode. It is because the online application is fast and hassle-free. But, the final choice has to be yours. So, choose accordingly after going through the details of both methods.

1. Online Method

In the online method of application for the PMEGP Scheme, you have to follow a few steps which we have discussed below:

  1. Open the official website of the Prime Minister Employment Generation Programme. You can also click here to visit that page.
  2. Now click on the PMEGP portal. You will see that a new page opens up.
  3. If you want to apply as an individual, you can click on the Online Application Form for Individual. If you want to apply as a non-individual, you should click on the Online Application Form for Non-Individual.
  4. Now, an application form will open up. If you are applying as a non-Individual, you need to select the type of entity, and then the form will open up.
  5. First of all, you must enter your Aadhar Number and authenticate it.
  6. After authentication, fill the entire form and then click on Save Applicant Data.
  7. Now, upload the documents, as required and click on the Final Submit option.

That’s all. Your application for the PMEGP Scheme is now complete. You will get an Application ID and a password which you can use to check the status of your application. We have discussed the details of this process in the next section.

2. Offline Method

In the offline method of application for the PMEGP Scheme, you have to follow these steps as discussed below. You will notice that half of the part is the same as the online process.

  1. Open the official website of the Prime Minister Employment Generation Programme. You can click here to visit that page.
  2. Then click on the PMEGP portal. A new page will open up.
  3. If you want to apply as an individual, you must click on the Online Application Form for Individual. If you want to apply as a non-individual, you must click on the Online Application Form for Non-Individual.
  4. An application form will open up. If you are applying as a non-Individual, you should select the type of entity and, then the form will open up.
  5. Now, you must enter your Aadhar Number and authenticate it.
  6. After authentication, you must fill the entire form and then click on Save Applicant Data.
  7. Now, take a printout of the filled form and attach the documents including DPR.
  8. Take the documents to the nearest office as mentioned in your application form. Get the receipt as well.
  9. If your application is found in order, you will receive an Application ID and a password on your mobile number.

You can use these details to check the status of your application. We have discussed the details of how to track the application in the next section.

How to Check Status of Loan in PMEGP Scheme?

If you want to check the status of your application for the PMEGP Scheme, here are the steps:

  1. Open the official website of the Prime Minister Employment Generation Programme. You can click here to visit that page too.
  2. Then click on PMEGthe P portal. A new page will open up.
  3. Now, click on Login Form for Registered Applicant. A new window will open up.
  4. Enter the Application Id and Password which you received on mobile. If the form does not open up, click here.
  5. As soon as you click on Login, the details of your application will show up on the screen.

If your application is approved but you have not received the amount from the bank, contact your bank immediately. They are the ones who can help you in this case.

Conclusion

That was all the relevant information regarding the PMEGP Scheme. In case you have not received your amount and the bank does not help you out, you can always contact the authorities via the grievance portal. You can find it here. Other than that, if there is anything you want us to cover in this post, let us know in the comments section.

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