Atmanirbhar Bharat Abhiyan
Get Mudra Loan Yojna at attractive interest rates
Mudra loan is extended for a variety of purposes which provides income generation and employment creation in Manufacturing, Services, Retail and Agri. Allied Activities.
Welcome To Mudra Loan Yojna
Apply For Mudra Loan
Shishu
Covering Loans Upto 50,000/-
Kishore
Covering Loans Above 50,000/- and Upto 5 Lakh
Tarun
Covering Loans Above 5 Lakh And Upto 10 Lakh
Tarunplus
Covering Loans Above 10 Lakh And Upto 20 Lakh
Mudra Loan
Get Mudra Loan In-principle Approval in 59 Minutes. From anywhere, anytime without vising Bank Branch.
A MUDRA Loan Yojna is being provided under the MUDRA Yojna to the non-corporate and non-farming small and micro enterprises/ businesses. Loans upto INR 10 Lacs can be availed under the MUDRA scheme. Micro Units Development and Refinance Agency Limited (MUDRA) is an NBFC supporting the development of small business owners in India.
The MUDRA Loan Yojna are to be provided for income generating small business activities across manufacturing, processing, services or trading sectors and would cover all Individuals/ Proprietary Concerns/ Partnership Firms/ Government Limited Companies/ Entities of any other legal forms running as shopkeepers, artisans, self-help groups, manufacturing units, hawkers, professionals, service providers, etc.
The MUDRA Yojna can be extended under 3 categories as mentioned below:
- Shishu : Offers loans upto INR 50,000.
- Kishore : Offers loans above INR 50,000 and upto INR 5 Lacs.
- Tarun : Offers loans above INR 10 Lacs and upto INR 20 Lacs.
Mudra Loan Eligibility
Mudra loan can be availed by the following entities:
What are the products under Mudra Loan?
The Mudra Loan Yojna scheme offers 3 products to eligible entities, namely Shishu, Kishore, and Tarun. The details of these three products are explained here.
Shishu Loan
Shishu loans under the Mudra Yojna scheme allow entrepreneurs on the threshold of starting a business to borrow up to Rs. 50,000. The following details need to be furnished to avail this loan.
Kishore Loan
Kishore loans range from Rs. 50,000 to Rs. 5,00,000. They’re ideal for businesspersons who require additional funds for expanding their trade. Here’s a checklist of details and documents needed.
Tarun Loan
Tarun loans under the Mudra Loan scheme range from Rs. 5,00,001 to Rs 20,00,000. Business owners who wish to avail a Tarun loan need to furnish these documents, in addition to the details required for applying to Kishore loans.
With the Mudra Loan scheme, you can borrow up to Rs. 20 lakhs to 1 Crore . If your business is in need of more capital or funds, or if you don’t qualify to borrow under the Mudra Loan scheme, you could always avail a business loan on Finserv MARKETS. On Finserv MARKETS, you can apply for loans as high as Rs. 20 lakhs to 1 Crore without the need to provide any collateral. The process from application to disbursal is also quick and easy, since there’s minimal documentation involved.
A SMART, EASY & FAST PROCESS
In a few steps of Online Application Process and a business can have Mudra loan In-principle approval from Preferred Bank.
GST Identification Number
Bank statement for last six months in pdf format
Director/Owners details: basic, personal, educational & ownership details
Inprinciple approval in 59 minutes
Documents Required
| Type of loan | Documentation |
|---|---|
| Vehicle Loans |
|
| Business Instalment Loan |
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| Business Loans Group and Rural Business Credit |
|
List of activities which cover MUDRA loans
The Mudra Loan scheme offers 3 products to eligible entities, namely Shishu, Kishore, and Tarun. The details of these three products are explained here.
- Community, Personal Service and Social ActivitiesThe activities/businesses for which MUDRA loans can be availed under this head include medical shops, boutiques, saloons, gymnasiums, dry cleaning, beauty parlours, motorcycle repair shops, tailoring shops, courier services, photocopying and DTP facilities, etc.
- Transport VehicleMUDRA offers financing for buying transport vehicles for goods as well as personal transport like auto rickshaws, three-wheelers, passenger cars, e-rickshaws, taxis, etc.
- Food Products SectorUnder the Food Products Sector, MUDRA loans can be availed for activities like achaar making, papad making, jelly or jam making, day-to-day catering, small service food stalls, cold storages, ice cream making units, cold chain vehicles, bun and bread making, etc.
- Business Loans for Shopkeepers and TradersMUDRA loans under this head can be availed by individuals who require financing for running their shops, service enterprises, business and trading activities, and non-farm activities that generate income.
- Textile Products SectorMURDA loans under this head are available for activities such as powerloom, handloom, chikan/zardozi work, khadi activity, traditional printing and dyeing, knitting, computerised embroidery, apparel design, other textile activities for non-garment products, etc.
- Agriculture and Allied ActivitiesMUDRA loans can also be availed for bee keeping, pisciculture, livestock, sorting, agriclinics, dishery, etc.
- Equipment Finance Scheme for Micro UnitsMUDRA loans are extended for the setting up of micro enterprises by buying the necessary equipment/machinery.
Funding Support under MUDRA Loan
MUDRA offers four types of funding support:
- Micro Credit Scheme
- Loans can be availed to the extent of Rs.1 lakh. The funds can be used for a variety of micro enterprise activities.
- Targeted primarily at groups such as Joint Liability Groups (JLGs) and Self Help Groups (SHGs).
- Any Micro Finance Institution (MFI) that wishes to avail a loan should enrol with MUDRA and comply with its requirements.
- Women Enterprise Programme
- Additional facilities are offered to women entrepreneurs to encourage them to follow their dreams.
- Facilities include the reduction of interest on loans. Currently, MUDRA loans can be availed by Micro Finance Institutions (MFIs) or Non Banking Financial Companies (NBFCs) with a discount of 25 basis points or 0.25% on the interest rates, provided they offer loans to women.
- Refinance Scheme for Regional Rural Banks/Commercial Banks/Scheduled Co-operative Banks
- Various banks such as Scheduled Co-operative Banks, Regional Rural Banks, and Commercial Banks can avail refinance.
- Refinance amount offered can go up to Rs.10 lakh per unit, and the funds can be availed as working capital loans or term loans. This is applicable to banks that have taken loans under the Tarun, Kishor, and Shishu categories.
- Securitisation of loan portfolio
- MUDRA extends support to NBFCs, MFIs, and banks to fund micro enterprises through participation in securitisation of their loan assets.
Benefits of Taking MUDRA Loan
Here are the key features and benefits of MUDRA loan:
- Banking and financial services can be availed in both rural and urban areas.
- Financial backing can be obtained by micro-small businesses and start-ups.
- Business loans can be taken for small amounts at affordable interest rates.
- The borrower’s credit guarantee is taken by the government, so if a borrower is unable to repay the amount borrowed, the responsibility for the loss will be borne by the government.
- Food vendors, shopkeepers and other small business owners can make the most of this scheme.
- Financial aid is available through this scheme in areas where people have no access to basic banking facilities.
- The repayment period of the scheme can extend up to seven years.
- Women borrowers can avail the loan at discounted interest rates.
- Refinance schemes can also be availed with designated lenders.
- Individuals who wish to generate income through micro enterprise activities can avail the Micro Credit Scheme.
- The MUDRA loan scheme is in collaboration with the “Make In India” campaign which the government has initiated to foster innovation, facilitate investment, improve skill development, and build the best manufacturing infrastructure in the country.
- There is no need for collateral or security to avail this scheme.
- The funds borrowed through this scheme can only be used for business purposes.
Loan guarantee:
The completion of a loan application on our website does not guarantee loan approval. The lenders assess your application to determine loan eligibility and the amount that you are eligible for. While we strive to process loan applications within 24 hours, funds might take longer to get transferred in some instances. All information provided on this site must be taken as opinion, and users should perform due diligence and research before making financial decisions.
Personal loan interest rates and applicable charges
TYPE OF FEE Applicable charges
RATE OF INTEREST
5% p.a.
PROCESSING FEES
Up to 3.93% of the loan amount (inclusive of applicable taxes)
*All the Flexi charges above are inclusive of applicable taxes.
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Pradhan Mantri MUDRA Yojana (PMMY)
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Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal Under the aegis of PMMY, MUDRA has created three products namely ‘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.