Mudra Loan Yojana was launched by the government in the month of June 2015. People who want to start their own business can apply for loans under this scheme, and small business owners who want to expand their current operations can also qualify for loans under the scheme. can try. Since it is a government loan, the interest rate on the amount availed under this loan is very low. Due to this, many people in India have expanded their existing businesses apart from starting new businesses by availing loans through the scheme. We have given detailed information about Mudra loan scheme in this article .
Mudra Loan Yojana 2023
The full name of Pradhan Mantri Mudra Loan Yojana is Mudra.
Micro Units Development Refinance Agency is known by the short name of Mudra. The full name of Mudra in Hindi is “Micro Unit Development Refinance Agency” and let us tell you that the Ministry of Micro, Small and Medium Enterprises, Government of India has started this scheme for such entrepreneurs who have started their new business. Businesses either want to start a new business.
Features of Pradhan Mantri Mudra Yojana (Features of PM MUDRA Loan Yojana)
The loans are accepted on annual renewal basis and are of the following nature.
- The loan is aimed at helping small business owners start a new business or expand existing businesses.
- Loan Amount: The beneficiary of this Prime Minister’s initiative is eligible for a loan between $50,000 and $10,000,000. It is
- being offered on the basis of three categories.
- Traders willing to get loans up to 10,00000 can apply to the bank for Mudra Yojana .
Interest rate for Pradhan Mantri Mudra Loan Yojana
Let us tell you that its interest rate is changed from time to time by the Central Government and its interest rate can be different in different banks. If we focus on the present, the primary bank interest rate is currently 8.15% per annum. The sanctioned loan amount will also affect this interest rate.
Types of Prime Minister Mudra Loan (Types of PM MUDRA Loan)
The three types of Mudra loan are as follows. First, second class and third year men. You will find all this information below.
- Infant: Rs. 50,000 at 0% of the loan.
- Kishore : Rs. 50,001 to Rs. 5,00,000, with 25% contribution.
- The youth owes Rs. From the rupee. 5,00,001 to Rs. 10,00,000/-.
Eligibility (Beneficiary) for Prime Minister Mudra Loan.
If you want to start your own small or medium sized business or if you want to grow an existing small, large or medium sized firm then you can try to avail loan under this scheme. Under this scheme, any individual who wants to start or expand their existing business can apply for the loan. Apply for Shishu loan if you are starting a small business.
Bank Official Link with Pradhan Mantri Mudra Loan Yojana
Let us tell you that if you are planning to take Mudra loan this year, then you can get the application form by visiting the official website of many institutions. This should be printed by you. Listed below are the names of some well-known banks, along with links to their official websites from where you can download the Mudra loan application form.
| state Bank of India: | Click here |
| Punjab National Bank: | Click here |
| Bank of Baroda: | Click here |
| Bank of India: | Click here |
| Union Bank of India: | Click here |
| Syndicate Bank/Canara Bank: | Click here |
| HDFC bank: | Click here |
List of commercial, public and rural banks offering Mudra loan under PM (Bank List)
Most of the Indian banks provide loan under Pradhan Mantri Mudra Yojana . There is any one of the banks listed below where you can submit the application for the loan. However, to do so you need to have an account with that bank.
- Indian Bank
- Bank of India
- Andhra Bank
- Bank of Baroda
- Bank of Maharashtra
- Corporation Bank
- Syndicate Bank
- Central Bank of India
- dnabank
- IDBI Bank
- Indian Postpayment Bank
- Punjab National Bank
- Indian Overseas Bank
- Punjab And Sind Bank
- state Bank of India
- ucobank
- Union Bank of India
- United Bank of India
- Vijaya Bank
- Andhra Pradesh Rural Development Bank
- Baroda Gujarat Gramin Bank
Pradhan Mantri Mudra Yojana Eligibility
- Any citizen of India can apply for it.
- Credit score should be high.
- A business plan should be written.
- Aadhaar and PAN card is necessary for the applicant.
- It is open to both men and women above the age of 18 years.
- Additionally, he should not have any outstanding bank loans and should have an excellent civic score.
- This scheme allows women to apply both online and offline if they want to start their own business or want to expand the existing business. He has to visit the bank where he has the account and speak to the manager or loan agent there as part of the offline process.
Documents for Pradhan Mantri Mudra Yojana
To apply for the loan, you need to submit your Aadhaar card or other proof of identity along with the names and contact details of two guarantors.
Prime Minister Mudra Loan (Aadhaar Card Loan) Scheme (Aadhaar Card Loan)
Since the bank requires Aadhaar card as the primary identification while applying for Mudra loan, these loans are also known as Aadhaar card loans in rural parts of India. You can easily apply for Mudra loan , whether you are a small or a big business, and Aadhaar card acts as the primary supporting document.
Application Form and Official Website for Pradhan Mantri Mudra Loan Yojana
The first thing you need to do to avail a Mudra loan is to visit the bank branch where you have your account. After visiting the bank, you should meet the field officer and talk to him about getting the loan. If he agrees, the field officer will give you an application for a credit report.
Whatever information is required in it, it has to be filled properly and returned to the field officer. Let us tell you that if your credit score is above 700 then you have a good chance of getting a loan. Along with this, you can also get the application form by visiting the website of Pradhan Mantri Mudra Loan Yojana .
PradhanMantri Mudra Loan Yojana Offline Application for Bank (Apply Offline)
- The first step to apply for Mudra loan offline is to visit your local bank with all the necessary paperwork.
- After visiting the bank you should meet the field officer and discuss about your new or existing business.
- When the field officer is satisfied with your explanation, he will ask you for your PAN and Aadhaar card and run a credit report.
- If you have a good credit score, a field officer will visit your place of business.
- After verifying the business, the bank will provide you with an application form.
- You must fill the application form completely with all the requested information before submitting it to the bank.
- Now you have to sign some important documents. Tell them that apart from the application form, you will also have to submit
- your ID card, at least three color photographs and two sureties, if required.
- Now your Pradhan Mantri Mudra Yojana dossier is ready, and once the loan is approved, the amount will be deposited into your bank account itself.
Online Application for Pradhan Mantri Mudra Yojana
- You need to visit the official website of Mudra Loan Yojana to submit the application.
- When you visit the website, you will see all the three types of loans offered by Mudra Loans. To apply for the loan, you first need to select the type of loan you want and print the application form. Fill it, attach all the required documents and deliver it to your local bank.
- The bank will now verify your application and review both your credit score and your credit report.
- If everything is in order then the loan will be approved and the amount will be transferred to your bank account.
Success of PradhanMantri Mudra Loan Yojana (PM MUDRA Loan Yojana Success)
The government launched this scheme in June 2015 and as a result of the simple requirements of the scheme to avail the loan, many people applied for it and took full advantage of it. Let us tell you that Rs 1.32 lakh crore was distributed through this program in the financial year 2015-16. In the financial year 2016-2017 Rs. 1.75 lakh crore, and in the financial year 2017-2018 Rs. 2.46 lakh crore was distributed. Thus far, PAHAL has disbursed Rs 2900 crore. Under this scheme, Rs 2.64 lakh crore has been distributed in the year 2021-2022.
Customer Care Helpline Number for Pradhan Mantri Mudra Loan Yojana
The administration has also announced a helpline number for the programme. If anyone needs help, they can call the helpline 18001801111 or 1800110001.
FAQs of Mudra Loan Yojana 2023
When was the Pradhan Mantri Mudra Loan Yojana started?
in 2015
Pradhan Mantri Mudra Loan Yojana was started by whom?
Prime Minister Narendra Modi
Has any specific category been established for Pradhan Mantri Mudra Loan Yojana?
Yes, it will be divided into the following three categories: Teens, Teens and Infants.
How can I submit Pradhan Mantri Mudra Loan Yojana application online?
The application can be done by visiting the official website
How much loan is provided by Pradhan Mantri Mudra Loan Yojana?
The answer is Rs 50,000 to Rs 10 lakh.