There is a great news for the youth of UP. Let us tell you that the Uttar Pradesh government has started the Yuva Udyam Vikas Yojana to make the youth self-reliant and under this scheme, eligible youth of the state will be given a loan without interest up to ₹ 5 lakh so that they can start their own business. Let us also tell you that this initiative of Chief Minister Yogi Adityanath will motivate the youth towards self-employment as well as strengthen the economy of the state.
UP New Loan Scheme
The Uttar Pradesh government has launched this scheme for those youth who want to start their own business but are unable to do so due to financial constraints. This scheme provides loans without interest, so that the youth will not have to bear the financial burden. The entire loan amount will have to be repaid in four years and 10% of it will be included in the form of term loan, so that repayment can be easy.
What benefits will the youth get from this scheme
- Economic Independence: Youth can become self-reliant by starting their own business.
- Interest free loan: Compared to the expensive loan from the bank, this scheme is completely interest free, so there will be no additional burden.
- Boost to Startups: This is a great opportunity for new startups to start as they will get capital without any additional cost.
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- Employment opportunities: When youth start their own business, they will be able to provide employment to others as well, which will increase job opportunities in the state.
What is the eligibility for this scheme
To avail the benefits of the scheme, some eligibility conditions have been fixed, which will be necessary to fulfill.
- The applicant must have passed at least class 8th.
- He should not be a defaulter of any bank.
- He should not have taken loan under any other government scheme earlier.
Application Process for UP New Loan Scheme
- Visit the official website: Visit the portal issued by the government and read all the information related to the scheme.
- Prepare the required documents: Gather identity proof, educational certificates and other required documents.
- Apply Online: Fill the available application form and submit it along with the required documents.
Where can the loan be used
This loan is being given only for business purposes. You can use it for machinery, raw materials and other business needs. However, this loan cannot be used to buy land or property.
Source & Reference: https://syasikkim.org/up-new-loan-scheme-2025/