Atmanirbhar Bharat Abhiyan
Mudra loan is extended for a variety of purposes which provides income generation and employment creation in Manufacturing, Services, Retail and Agri. Allied Activities.
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/ Private 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 5 Lacs and upto INR 10 Lacs.
Mudra loan can be availed by the following entities:
Apply For 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 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 loans range from Rs. 50,001 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 loans under the Mudra Loan scheme range from Rs. 5,00,001 to Rs 10,00,000. 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. 10 lakhs. 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. 30 lakhs without the need to provide any collateral. The process from application to disbursal is also quick and easy, since there’s minimal documentation involved.
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
There are several banks in the public sector as well as the private sector offering MUDRA loans. Here are some of the top lenders and their MUDRA loan offerings:
| Bank | Interest Rate | Tenure |
|---|---|---|
| State Bank of India | 11.25%% | Up to 5 years |
| Syndicate Bank | 8.60% - 9.85% | Based on the bank’s terms |
| Bank of India | 10.70% onwards | 36 - 84 months |
| Andhra Bank | 8.40% to 10.35% | 36 months onwards |
| Tamilnad Mercantile Bank | 9.90% - 12.45% | Up to 84 months |
| Type of loan | Documentation |
|---|---|
| Vehicle Loans |
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| Business Instalment Loan |
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| Business Loans Group and Rural Business Credit |
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The Mudra Loan scheme offers 3 products to eligible entities, namely Shishu, Kishore, and Tarun. The details of these three products are explained here.
The 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.
MUDRA offers financing for buying transport vehicles for goods as well as personal transport like auto rickshaws, three-wheelers, passenger cars, e-rickshaws, taxis, etc.
Under 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.
MUDRA 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.
MURDA 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.
MUDRA loans can also be availed for bee keeping, pisciculture, livestock, sorting, agriclinics, dishery, etc.
MUDRA loans are extended for the setting up of micro enterprises by buying the necessary equipment/machinery.
MUDRA offers four types of funding support:
Here are the key features and benefits of MUDRA loan:
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Mudra Yojna is extended for a variety of purposes which provides income generation and employment creation in Manufacturing, Services, Retail and Agri. Allied Activities.
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