{"id":19948,"date":"2021-06-11T06:28:25","date_gmt":"2021-06-11T06:28:25","guid":{"rendered":"https:\/\/tata-blog.osian.dev\/blog\/?p=15896"},"modified":"2022-04-12T06:54:49","modified_gmt":"2022-04-12T06:54:49","slug":"what-are-the-eligibility-criteria-to-get-a-pmry-loan","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-business\/what-are-the-eligibility-criteria-to-get-a-pmry-loan\/","title":{"rendered":"What Are the Eligibility Criteria to Get a PMRY Loan?"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>The PMRY full form Pradhan Mantri Rozgar Yojana is a credit scheme by the central government that aims to fight unemployment by providing convenient financial support to educated but unemployed youth.<\/p>\n\n\n\n<p>Under the PMRY scheme, you can apply for subsidised loans to set up your own enterprises in the trade, service, and manufacturing sectors. However, you can only avail of this facility if you fulfil certain criteria. Here are the PMRY loan eligibility criteria and the documents you will need to get a PMRY loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Eligibility criteria for a PMRY loan<\/strong><\/h2>\n\n\n\n<p>To avail of the benefits of the PMRY scheme, you must fulfil the following PMRY <a href=\"https:\/\/tata-blog.osian.dev\/business-loan\/eligibility-and-documents.html\">business loan eligibility<\/a> criteria:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Educational Qualification<\/strong>: You must have passed the 8th standard. Moreover, if you&#8217;ve received training in any trade for 6 months from a government-recognised institution, you&#8217;ll be given preference.<\/li><li><strong>Residence<\/strong>: You must be a permanent resident of the area you currently live in for at least 3 years.<\/li><li><strong>Age<\/strong>: You must be between 18 and 35 years old. For women, physically challenged, SC\/ST and ex-servicemen applicants, there is an age relaxation of 10 years. Also, applicants from the seven North-Eastern states have an upper limit of 40 years of age.<\/li><li><strong>Credit status<\/strong>: Your repayment history must be clean without any loan defaults. Moreover, you won&#8217;t be eligible for a PMRY loan if you&#8217;ve already received financial assistance under another subsidy-linked government schemes.<\/li><li><strong>Family net income<\/strong>: Your family&#8217;s income, including the income of your spouse or your parents, must not exceed Rs. 40,000 per annum.<\/li><li><strong>Reservation<\/strong>: The scheme also offers reservation for certain sections, including women, SC, ST and OBCs.<\/li><\/ul>\n\n\n\n<p style=\"color:#FF0000\"><strong>Additional Read: <\/strong><a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/all-you-need-to-know-about-pmry-loans\/\">All You Need to Know about PMRY Loans<\/a><\/p>\n\n\n\n<p>Here are the eligibility criteria for the Prime Minister Rozgar Yojana loan in a tabular format.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Sr No.<\/strong><\/td><td><strong>Criteria<\/strong><\/td><td><strong>Requirement<\/strong><\/td><\/tr><tr><td><strong>1.<\/strong><\/td><td>Educational Qualification<\/td><td>Std. 8 pass with a preference for candidates with vocational training from a recognized-government institution<\/td><\/tr><tr><td><strong>2.<\/strong><\/td><td>Residence<\/td><td>Permanent resident in the area for three years<\/td><\/tr><tr><td><strong>3.<\/strong><\/td><td>Credit History<\/td><td>Clean without loan defaults or granted government subsidies<\/td><\/tr><tr><td><strong>4.<\/strong><\/td><td>Family Net Income<\/td><td>Not over Rs. 40,000<\/td><\/tr><tr><td><strong>5.<\/strong><\/td><td>Reservation<\/td><td>Women, SC, ST, OBCs<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Documents required for a PMRY loan<\/strong><\/h2>\n\n\n\n<p>You need the following documents to apply for a PMRY business loan:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Proof of Identity &#8211; Passport, PAN Card, driver\u2019s license, etc.<\/li><li>Certificate of qualification &#8211; technical and academic<\/li><li>Experience certificate (if any)<\/li><li>Income certificate (where applicable) issued by the Mandal Revenue Officer (MRO)<\/li><li>Proof of residency for three years (ration card or any relevant documents)<\/li><li>A copy of the scheme\/project report of the proposed venture<\/li><li>Proof of date of birth &#8211; birth certificate, Higher Senior Certificate (HSC)\/Secondary School Certificate (SSC)\/ Transfer Certificate (TC) from the school in which you studied<\/li><li>Caste certificate issued by the MRO (if applicable)<\/li><li>Entrepreneurship Development Programme (EDP) certificate<\/li><li>Affidavit duly countersigned by the NOTARY<\/li><li>Any other document required by a particular lender<\/li><\/ul>\n\n\n\n<p style=\"color:#FF0000\"><strong>Additional Read: <\/strong><a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/list-of-documents-you-must-have-to-get-your-business-loan-approved-in-2020\/\">List of Documents You Must Have to Get Your Business Loan Approved<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In conclusion<\/strong><\/h3>\n\n\n\n<p>Want to start your own business but worried about a shortage of funds? Avail of a quick <a href=\"https:\/\/tata-blog.osian.dev\/business-loan.html\">business loan<\/a><strong> <\/strong>from Tata Capital. With business loan interest ratesstarting at 19% and tenure ranging up to 36 months, you can choose from our Flexi EMI options for hassle-free repayment. <\/p>\n\n\n\n<p>What\u2019s more, you can get a loan amount of up to Rs. 75 lakhs with simple documentation and speedy processing. Use our business loan EMI calculatorhere to understand how your potential EMIs will look like. Get in touch with us today!<\/p>\n\n\n\n<div class=\"wp-block-group alignwide\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background\" href=\"https:\/\/tata-blog.osian.dev\/business-loan\/eligibility-and-documents.html\">Know your eligibility<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Pradhan Mantri Rozgar Yojana (PMRY) is a credit scheme by the central government that aims to fight unemployment by providing convenient financial support to educated but unemployed youth. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/what-are-the-eligibility-criteria-to-get-a-pmry-loan\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":15897,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-19948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pradhan Mantri Rozgar Yojana (PMRY) Loan Eligibility - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"The Pradhan Mantri Rozgar Yojana (PMRY) is an initiative by the government to help unemployment. Check out PMRY loan eligibility, documents required and more.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pradhan Mantri Rozgar Yojana (PMRY) Loan Eligibility - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"The Pradhan Mantri Rozgar Yojana (PMRY) is an initiative by the government to help unemployment. Check out PMRY loan eligibility, documents required and more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-business\/what-are-the-eligibility-criteria-to-get-a-pmry-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-11T06:28:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-12T06:54:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2021\/06\/2-pmry-loan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-business\/what-are-the-eligibility-criteria-to-get-a-pmry-loan\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-business\/what-are-the-eligibility-criteria-to-get-a-pmry-loan\/\",\"name\":\"Pradhan Mantri Rozgar Yojana (PMRY) Loan Eligibility - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2021-06-11T06:28:25+00:00\",\"dateModified\":\"2022-04-12T06:54:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"The Pradhan Mantri Rozgar Yojana (PMRY) is an initiative by the government to help unemployment. 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