Business Loan Interest Free: Get ₹5 Lakh Interest-Free Loan! Under this Government Scheme

Business Loan Interest Free: These days, there are many families whose income is so low, they struggle to afford two proper meals a day. Therfore, their children are suffering from mal-nutrition. Because many times, the benefits of government schemes don not actually reach them. Despite so much research and effort, poor families still remain in many parts of the country. On the other hand, there are many families where women have become so self-reliant that they are the ones holding the household together. In many of these cases, it is often seen that the men have become idle and unproductive. These days, women want to be self-reliant while also focusing on turning around the future of their families.

The progress of women ultimately means the progress of the whole families and that is why the Government of India has launched the ‘Lakhpati Didi’ scheme to empower women to become self-reliant. Women can start of their family business. In that case, the govenment will provide training to thsoe women who are part of ‘Self Help Group’ (SHGs) and have been working with them for at least two years.

The purpose of this group is simple it will have 10 to 20 members and each woman will contribute small amounts of money so that together they can support one another. This loan will only be available if the woman is a member of the group and her family’s annual income is at least 1 lakh rupees. If a woman from such a family already runs a small business or plans to start a new one. The government is ready to provide up to ₹5 lakh as Capital support through loans. Late’s take a look at what qualifications are needed to get this loan. Which kinds of business could qualify for a loan, read the full report carefully. Because this article covers everything about the loan from start to finish. It is going to be really helpful.

Also Read: Need Funds on your Business? Get ₹20 Lakh Loan Without any Guarantee! Know the steps

The Business Goal Behind the Name ‘Lakhpati Didi’

This name can be seen as a symbol of shaping women into capable entrepreneurs. When women step into business, each of them becomes an entrepreneur in her own right with men standing in support behind them and managing the business together means dividing responsibilities fairly and respecting each other’s contributions. During the 77th Independence Day speech at the Red Fort on August 15, 2023. Special appreciation was given to the incredible efforts of these self-help groups. The Prime Minister’s dream is to create 2 crores of ‘Lakhpati Didi’ across the country.

From a Business Point of View, Why is this Benefit Provided?

From the very beginning, Prime Minister Narendra Modi’s Goal has been to create an ‘Atmanirbhar Bharat’. According to Him, the Rise of Women power is the key to making this vision a sucess. Encouraging women to lead in Business, working side by side with men. With women’s self-respect and dignity, India can earn a leading place in Business too. After all, in trade and Business, wealth and prosperity symbolize women themselves. To share your thoughts on this.

Let’s quickly Recap the main reasons behind the ‘Lakhpati Didi’ initiative-

• Strengthening the Rights of Women.
• Transforming women into financially independent thinkers.
• The concept of women partnering with men in business.
• A woman who gives birth to a child is equally capable of giving birth to a new business.

How Does the ‘Lakhpati Didi’ Scheme Benefit Women in Business?

Earning over ₹1 Lakh a year? Here’s what benefits you get under the Lakhpati didi scheme-

1. Start a Business and get up to ₹5 lakh from this scheme.
2. You would not have to pay even ₹1 extra as interest.
3. All types of government assistance will be available to help you grow your business.
4. You will get advanced training to run your business, along with a proper certificate after completion.
5. The vision of the government is to build new Lakhpati entrepreneurs. Our nationa truly needs more women entrepreneurs. That is why women should come ahead and proudly achieve the title of ‘Lakhpati Didi’.

What Types of Business Make You Eligible to Apply?

• Applicatnts must be citizens of India.
• The applicant must be a woman entrepreneur.
• There is no specific age limit for applicants.
• The woman must be a member of a Self Help Group (SHG).
• Keep in mind, the applicant should not have any Khelapi Loans.

Step by Step : Where and How You Can Apply for the Lakhpati Didi Scheme.

1. From the start, women must be members of a Self-Help Group.
2. After being in the group for sometime, prepare a draft of the business you wish to start. For example, Tailoring, Beauty Parlour, Making Food Items like Pickles, Papad, Bakery products etc. You can choose from a variety of business ideas like Handicrafts, Weaving, Sanitray, Napkins, Garments and Cosmatics, Vegatable shop or Agricultural products.
3. You can directly visit any Bank or simply connect with the Rural Livelihood Mission (DAY-NRLM) or your local Self-Help Grouop and your work will be done easily.
4. Submit your Business Draft easily through the Self-Help Group.
5. Other required documents include Aadhar Card, PAN Card, income certificate, proof of SHG membership, your band details and a duly filled application form.
6. Since, this loan is processed through Self-Help-Groups, the Community Resource Persons (CRPs) under the Lakhpati Didi Scheme carefully verify the members’ laon applications.
7. Once all the processes are completed, your loan amount will be directly transferred to your Bank account.

Eligible Business Ideas for This Special Loan

1. Sewing or Tailoring Business
2. Beauty Parlor and at home Makeup Service.
3. Animal Husbandry and Dairy Production.
4. Starting a Home-Based Food Business.
5. Handicrafts and Cottage Industries.
6. Mobile Repairing and Electrical Services.
7. Cattle and Poultry Business.

They have embarked on this initiative to ensure a family income of over ₹10,000, where men and women work together, taking a progress for both national progress and family development.

Let’s celebrating this government inititative and encourage housewives to come together and start their own business.

Successful Entrepreneur, Succeed Business.