UP Govt Offers Interest-Free Startup Loans Up To Rs 5 Lakh For Youth; Here’s How You Can Apply News24 –

The central government implements various schemes aimed at benefiting millions of citizens across the country. These initiatives are designed to support different segments of the population. Alongside the Centre, state governments also launch their own schemes to cater to the needs of people within their respective states. These programs are introduced based on the specific requirements of the citizens.

The primary requirement for financial help comes through bank loans that bring excessive interest rates and repayment challenges. The Uttar Pradesh government helps citizens by providing loans with low interest rates and no interest at all to state residents.

Under its welfare initiatives the UP government created the Mukhyamantri Yuva Udyami Vikas Abhiyan as a new loan program. The new program started this year seeks to support youth who want to establish their own companies. The program allows the government to provide interest-free loans of up to Rs 5 lakh which come without need for any security. Constructed for four years of term this scheme provides interest-free loans to help young business seekers establish their new ventures.

How To Apply?

Young entrepreneurs who are interested in availing the benefits of the scheme can apply online by visiting the official website of the MSME Department-https://msme.up.gov.in.

To further assist applicants, the website offers over 400 project reports and around 600 business ideas. Those unsure of what business to start can explore these resources to find a suitable idea and begin their entrepreneurial journey.