Mudra or Micro Units Development & Refinance Agency Ltd is a new financial institution set up by the Government of India to support the development of small and micro enterprises sectors in the country. Mudra Loan provides the fund to support the growth of the small enterprises in non-corporate and non-farm sectors by providing credit up to Rs 1000000. Learn more about Mudraloan online below.

Mudra Loan provides financial assistance to small industries under Pradhan Mantri MUDRA Yojana. Mudra Loans are designed for the ease of application and quick approvals. Applications for Mudra Loan are accepted online and off line. Most of the branches of Banks and Non-Banking Financial Companies accept offline applications.

Pradhan Mantri Mudra Loans are being targeted across the spectrum of various beneficiary segments spread across the country. Mudra loan process is easy compared to conventional loans and can be used for multiple financial needs.

Mudra (Micro Units Development and Refinance Agency) is a new funding agency set up by the Government of India to provide funding for the development and refinancing of micro-units. Mudra loan mainly focuses on the income-generating activities of no cooperate and non-farming sectors whose credit requirement are below INR 10 Lacs. Mudra Loan in Kerala is a boost for thousands of micro-units in the state that are facing issues in generating funds from formal banking systems.

How to Get Mudra Loan Online?

Banks like SBI and other nationalized banks provide Mudra Loan Online
(E Mudra Loan) to their existing customers up to Rs- 50000. Existing Saving and Current account holders are eligible to apply for Mudra Loan Online. Various Non-Banking Financial companies provide Pradhan Mantri Mudra Loan Online. Some financial institutions like Bajaj Finance offer business loans for small and medium enterprises up to Rs. 30 Laks with an online application facility.

Mudra Loans Categories

Pradhan Mantri MUDRA Yojana (PMMY), MUDRA offers three types of loan
‘Shishu’, ‘Kishore’ and ‘Tarun’ as per the growth stages and funding
requirements of the beneficiary micro unit. The details of schemes and loan
amounts are listed below:

Shishu Loan: covering loans up to Rs 50,000
Kishore Loan: covering loans above Rs 50,000 and up to Rs 5,00,000
Tarun Loan: covering loans above Rs5,00,000 and up to Rs 10,00,000

Mudra Loan Eligibility

All Non Corporate and small business units registered as proprietorship or partnership, small manufacturing units, service units, shop keepers, Kirana store owners, fruits & Vegetable vendors, food service units, small industrial units, repair shops, truck operators, food processing units, truck operators, business units like dairy, poultry, fishery and other micro industrial units in rural and urban can apply for Mudra Loan under Pradhan Mantri MUDRA Yojana. All Loans under PMMY are collateral-free.

How to Apply for MUDRA Loan

Listed below are the steps to follow to apply for Mudra Loan.

Step 1.Keep the required documents for Proof of Identity, Address, and Business ready.
Document Accepted for Identity Proof: 
Aadhar Card, PAN Card, and Driving License
Document accepted for Address Proof:
Aadhar Card, Electricity Bill or Telephone Bill Or Water Bill Etc..
Document Accepted for Proof of Business:
Business registration certificate like Partnership deed, proprietorship, etc.
Step 2. Approach a Bank /NBFC 
Applicants can apply for a MUDRA loan with all banks and NBFCs in India.
Step 3. Fill in the Mudra loan application form
Fill in the loan application with details like loan amount, details of the business, etc. 
After approval of the bank or Non -financial banking companies will transfer the Mudra loan amount into your account.

MUDRA Loan Online Application

Most of the leading banks like SBI, ICICI, Bank Of Baroda, Central Bank of India, Axis Bank, Punjab National Bank, UBI, Indian Bank, Canara Bank, etc. accept the application for Mudra Loan online. For more details or to apply for Mudra Loan, you may visit the nearest branch of the bank. Mudra Loan application forms are available at the branches of leading banks and NBFCa and on the website of the bank.

Click to Apply Mudra Loan Online

Ria Dalwani

Ria Dalwani

Holds an MBA in Finance from Great Lakes Institute of Management Chennai. She has written widely about banking and finance for various publications in India and abroad.