Can you tell me about the Loan amount and some other information for Prime Ministers Employment Generation Programme (PMEGP) offered by UBI or United Bank of India?

The aim behind starting of the Prime Ministers Employment Generation Programme (PMEGP) by United Bank of India is to generate employment opportunities in rural and urban areas of India through setting up of new self employment scheme/plan/micro enterprises especially to a large segment of traditional and prospective artisans and rural and urban unemployed youth in India.

Loan Amount
Maximum Loan up to Rs.10.00 lacs for Business/Service Sector

Rs.25.00 lacs for manufacturing sector

The loan amount is the remaining portion of the project cost, after deducting the admissible capital subsidy.
Margin Money

10.00% for General category

5.00% for Special category (including SC/ST / OBC / Minorities / Women, Ex-servicemen, Physically Handicapped, North East Region, Hill and Border areas etc

Subsidy

General category: 15% for urban areas
25% for rural areas

Special category 25%for urban areas
35%for rural areas

Subsidy will be back ended.
Eligibility
Any individual above 18 years of age and Self Help Groups (SHGs) provided they have not availed benefits under any other scheme

No income ceiling for assistance for setting up projects under PMEGP.

The beneficiaries should be at least Vth Std pass for setting up project costing above Rs.10.00 lacs in the manufacturing sector and above Rs.5.00 lacs in the business/service sector.


United Bank of India PMEGP Loa