PM Mudra Loan Yojana Online Apply, Eligibility, Interest Rate, etc All Information

Pradhan Mantri Mudra Loan Yojana (PMMY) is a Central Govt Scheme under which loans given to non-farm income generating enterprises in manufacturing, trading, and services whose credit needs are below Rs. 10 Lakh by all the Public Sector Banks, Regional Rural Banks (RRBs), State Cooperative Banks and Urban Co-Operative Banks will be known as MUDRA Loans under the Pradhan Mantri MUDRA Yojana (PMMY). All such loans can be covered under refinance and/ or credit enhancement products of MUDRA.

In addition to these banks, NBFCs and MFIs operating across the country can also extend credit to this segment, for which they can avail financial assistance from Mudra Limited, subject to their conforming to the approved eligibility criteria for availing finance/ refinance assistance by Institutions from Mudra has been finalized and hosted at Mudra’s website.

Borrowers, who wish to avail assistance under Pradhan Mantri MUDRA Yojana (PMMY), can approach the local branch of any of the above referred institutions in their region. Sanction of assistance shall be as per the eligibility norms of respective lending institutions.

PM Mudra Loan Yojana Online Apply, Eligibility, Interest Rate, etc All Information

Scheme NamePradhan Mantri Mudra Yojana (PMMY)
MUDRA Full FormMicro Units Development & Refinance Agency Ltd
Owner of MUDRASmall Industries Development Bank of India (SIDBI)
Launch DateApril 8, 2015
Launched ByPM Sh. Narendra Modi
Loan CategoriesShishu, Kishore, & Tarun,
Loan Amountup to Rs. 10 Lakh
Loan Period5-7 Years
Processing FeesVaries Bank Wise
Processing Time1-2 Weeks
Who Give LoanAny Bank/ Financial Institution
Toll-Free Number1800-180-1111 and 1800-11-0001
HQ AddressSWAVALAMBAN BHAVAN, C-11, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI – 400 051
Websitemudra.org.in

Note: Note: There are no agents or middlemen engaged by MUDRA for availing of Mudra Loans. The borrowers are advised to keep away from persons posing as Agents/ facilitators of MUDRA/ PMMY.”

MUDRA Loan Amount under PMMY

Under the aegis of Pradhan Mantri MUDRA Yojana, MUDRA has already created its initial schemes and named as ‘Shishu’, ‘Kishore’, and ‘Tarun’ to signify the stage of growth/ development and funding needs of the beneficiary micro unit/ entrepreneur and also provide a reference point for the next phase of graduation/ growth to look forward to

StageLoan Amount
ShishuRs. 50000/-
KishorRs. 50000/- to 5 Lakh
TarunRs. 5 Lakh to 10 Lakh

Mudra Loan Eligibility under PMMY

Any individual including women, proprietary concern, partnership firm, private limited company, or any other entity is an eligible applicant under PMMY loans, whose loan requirement is up to  10 lakh.

Mudra loan is extended for a variety of purposes which result in income generation and employment creation. The loans are extended mainly for:

  • Business loan for Vendors, Traders, Shopkeepers and other Service Sector activities
  • Working capital loan through MUDRA Cards
  • Equipment Finance for Micro Units
  • Transport Vehicle loans – for commercial use only
  • Loans for agri-allied non-farm income generating activities, e.g. pisciculture. bee keeping, poultry farming, etc.
  • Tractors, tillers as well as two wheelers used for commercial purposes only.

Non Corporate Small Business Segment (NCSBS) comprising of proprietorship/ partnership firms running as

  • Small Manufacturing Units
  • Service Sector Units
  • Shopkeepers
  • Fruit/ Vegetables Vendors
  • Truck Operators
  • Food Service Units
  • Repair Shops
  • Machine Operators
  • Small Industry
  • Artisans
  • Food Processors and others in rural and urban areas

are eligible to apply for the MUDRA Loan under the PM Mudra Loan Scheme.

Note: The applicant should not be a defaulter of any Bank/ Financial Institution

List of Documents Required for Mudra Loan (Shishu Category)

  • Proof of Identity such as a self-attested copy of Voter’s Card/ Driving Licence/ PAN Card/ Aadhar Card/ Passport/ Photo IDs issued by the Govt Authority, etc.
  • Proof of Residence such as Recent Telephone Bill/ Electricity Bill, Property Tax recipt (not less than two months), Voter ID, Aadhar Card, Passport, Proprietor/ Partners Bank Passbook or latest account statement duly attested by Bank officials/ Domicile Certificate/ Certificate issued by Govt Authority/ Local Panchayat/ Municipality, etc.
  • Applicant’s Recent Photograph (2 copies) not older than 6 months
  • Proof of category like SC/ ST/ OBC/ Minority, etc.
  • Proof of Identity/ Address of the Business Enterprise- if available
  • Statement of Account from the existing banker for the last six months, if any
  • Quotation of Machinary/ other items to be purchased

List of Documents Required for Mudra Loan (Kishor and Tarun Category)

  • Proof of Identity such as a self-attested copy of Voter’s Card/ Driving Licence/ PAN Card/ Aadhar Card/ Passport/ Photo IDs issued by the Govt Authority, etc.
  • Proof of Residence such as Recent Telephone Bill/ Electricity Bill, Property Tax recipt (not less than two months), Voter ID, Aadhar Card, Passport, Proprietor/ Partners Bank Passbook or latest account statement duly attested by Bank officials/ Domicile Certificate/ Certificate issued by Govt Authority/ Local Panchayat/ Municipality, etc.
  • Proof of category like SC/ ST/ OBC/ Minority, etc.
  • Proof of Identity/ Address of the Business Enterprise- Copies of relevant Licenses/ Registration Certificates/ Lease or Rent Agreement/ Other documents pertaining to the ownership, identity of address of business unit/ Udyog Aadhar Memorandum
  • Statement of Account from the existing Banker for the last 6 months, if any
  • Last two years unaudited balance sheetsof the existing units along with income tax/ sales tax returns etc (Applicable for loans of Rs. 2 Lakh and more)
  • Projected balance sheets of start-ups/ esisting units for one year in case of working capital limits and for the period of the loan in case of term loan (applicable for loans of Rs. 2 lakhs and above)
  • Sales achieved during the current financial year up to the date of submission of application (in case of existing units)
  • Perforam Invoices/ Quotations for the assets to be purchased and estimate for the civil works, if any to be undertaken, Aspect pf technical feasinbility and economic viability may be discussed with borrower if felt necessary.
  • Asset & Liability statemen of the borrower including Directors & Partners
  • Memorandum and Articles of association of the company/ Partnership Deed of Parners etc. wherever applicable
  • Photos (two copies) of applicant/ Proprietor/ Parnters/ Directors not older than 6 months.

How to apply for MUDRA Loan under PMMY

Follow these steps to apply for the PM Mudra Yojana Loan from the various Banks/ Financial Institutions

  • Apply Online from the link Given below at www.udyamimitra.in
  • Apply Offline by Visiting any Bank Branch and following these steps
    • Get the application form from the bank branch from where you want to apply for the MUDRA Bank Loan.
    • Fill the application form and attache the required documents (as given above) along with the application form.
    • Deposit he application form in the concerned bank branch.
    • Follow up with the bank about the approval progress.

MUDRA Card

MUDRA Card

MUDRA Card is a debit card issued against the MUDRA loan account, for the working capital portion of the loan. The borrower can use MUDRA Card in multiple withdrawals and credits, so as to manage the working capital limit in a cost-efficient manner and keep the interest burden minimum. MUDRA Card also helps in the digitalization of MUDRA transactions and creating credit history for the borrower. MUDRA Card can also be used to withdraw cash from any ATM and also make payment through any ‘Point of Sale’ machines.

MUDRA Loan Inerest Rate

The Interest Rate of MUDRA Loan is varying bank-wise. The interest rates are deregulated and the banks have been advised to charge reasonable interest rates within the overall RBI guidelines.

UDYAMIMITRA Portal

The udyamimitra portal accessible from www.udyamimitra.in is the Portal designed to obtain application forms, gather and provide information, enable registration, provide links for handholding and assist in tracking request for handholding or loan. It provides the services of the following

  • MUDRA (Shishu) – upto Rs. 50,000
  • MUDRA (Kishore) – above Rs. 50,000 upto Rs. 5,00,000
  • MUDRA (Tarun) – above Rs. 5,00,000 upto Rs. 10,00,000
  • Stand-Up India for SC/ST and Women – Rs. 10 lakh to Rs. 100 lakh,
  • SME loans – upto Rs. 10 crore

Important Links

MUDRA Loan Online Apply Registration @udyamimitra.inClick Here
MUDRA Loan Online Apply Login @udyamimitra.inClick Here
Mudra Loan Application Form Format (Shishu)Click Here
Mudra Loan Application Form Format (Tarun/ Kishore)Click Here
SBI Mudra Loan Click Here
HDFC Bank Mudra LoanClick Here
ICICI Bank Mudra LoanClick Here
Bajaj Finance Mudra LoanClick Here
Bank of Baroda Mudra LoanClick Here
Bank of Maharashtra Mudra LoanClick Here
Central Bank of India Mudra LoanClick Here
Union Bank of India Mudra LoanClick Here
MUDRA Official WebsiteClick Here
State Wise Toll-Free NumbersClick Here

FAQs

IS PAN Card Compulsory for MUDRA Laon?

No, PAN Card is not mandatory for the PM Mudra Loan, however, the borrower may have to satisfy the KYC requirements of the financing institutions.

Which Banks Provide MUDRA Loan?

All PSBs, RRBs, and Small Finance Banks provide the Mudra Bank

Is there any Subsidy in MUDRA Loan?

There is no subsidy for the loan given under PM Mudra Scheme. However, if the loan proposal is linked to some Government scheme, wherein the Govt. if providing capital subsidy, it will be eligible under PMMY also

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