pm mudra loan : 50000/- से 10 लाख रुपये तक का लोन 0% ब्याज, यहां से करें ऑनलाइन आवेदन
Complete guide to PM Mudra Loan – learn about loan types, eligibility, how to apply, and where to get the loan without collateral.
📅 Updated25 Dec 2023
📂 CategoryResults
🔥 StatusLATEST UPDATE
PM Mudra Loan: Complete Guide to Types, Eligibility & Application Process
The Prime Minister’s PM Mudra Loan scheme, launched in 2018, aims to promote micro and medium enterprises (MSMEs) across India. It provides collateral‑free loans ranging from ₹50,000 to ₹10 lakh at low interest rates, helping entrepreneurs start or expand their businesses.
About the PM Mudra Loan Scheme
Initiated by Prime Minister Narendra Modi, the scheme supports micro, small, and medium enterprises (MSMEs) by offering affordable credit. The repayment period begins after five years, easing the financial burden on borrowers.
Types of Mudra Loans
Shishu Loan
Up to ₹50,000 for new micro‑enterprises.
Kishor Loan
₹50,001 to ₹5 lakh for existing businesses seeking expansion.
Tarun Loan
₹5 lakh to ₹10 lakh for established enterprises aiming for larger growth.
Who Can Apply?
Any individual or partnership firm engaged in a micro or medium‑scale enterprise.
Applicants must have a good credit history (no loan defaults).
A satisfactory credit score (CIBIL) is required.
How to Apply for a PM Mudra Loan
The application process is currently offline:
Visit a participating bank or financial institution (see list below).
Obtain the Mudra loan application form.
Fill in the form accurately and submit it along with required documents.
The bank will verify your credit history and CIBIL score.
If required, present a business plan or blueprint of your enterprise.
Upon approval, the loan amount will be credited directly to your bank account.
Institutions Where You Can Apply
Non‑Banking Financial Companies (NBFCs)
Regional Rural Banks (RRBs)
Micro‑Finance Institutions (MFIs)
Co‑operative Banks
Public Sector Banks
Small Finance Banks
Private Sector Banks
Key Features of the Scheme
No collateral required.
Low interest rates as set by the government.
Repayment starts after a moratorium of five years.
Loan amounts tailored to the stage of the business (Shishu, Kishor, Tarun).
What is the minimum loan amount under the PM Mudra scheme? The minimum is ₹50,000 under the Shishu loan category.
Is collateral required for a Mudra loan? No, the scheme offers collateral‑free credit.
How long is the repayment moratorium? Repayment begins after five years from loan disbursement.
Can I apply online? Currently, the application process is offline; you must visit a participating bank.
What documents are needed? Typically, identity proof, address proof, business registration documents, and a business plan if requested.
Is there a credit score requirement? A good CIBIL score is essential; the exact threshold is determined by the lending institution.
Which banks participate in the scheme? All major public, private, cooperative, regional rural, and small finance banks, as well as NBFCs and MFIs.
What is the interest rate? The rate is set by the government and is lower than standard market rates; exact rates vary by institution.
Conclusion
The PM Mudra Loan scheme is a vital initiative to boost MSME growth in India by providing affordable, collateral‑free credit. Understanding the loan types, eligibility criteria, and application process can help aspiring entrepreneurs secure the necessary funding to launch or expand their businesses. For the latest updates and official forms, always refer to the official Mudra website or your nearest participating bank.