Atmanirbhar Bharat Abhiyan

Apply for Mudra Loan Yojana at low interest rates

Mudra loans are extended to promote income and employment in sectors such as manufacturing, services, retail, and agricultural allied activities. 

 

Apply Now

Welcome To Mudra Loan Yojna

Apply For Mudra Loan

Mudra Loan

Get Mudra Loan In-principle Approval in 59 Minutes. From anywhere, anytime without visiting a 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 up to 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 is 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 up to INR 50,000.

 Kishore: Offers loans above INR 50,000 and up to INR 5 Lacs.

 Tarun: Offers loans above INR 10 Lacs and up to INR 20 Lacs.

Mudra Loan Eligibility

Mudra loan can be availed by the following entities:

  • Applicants with minimum age of 18 years and maximum 65 years
  • Business owners
  • Shopkeepers
  • Small Industrialists and Manufacturers
  • Individuals involved with Agricultural activities
  • Startup entrepreneurs
  1. Self-attested copy of Voter Card/ Aadhar Card
  2. Self-attested copy of PAN card
  3. Copy of bank statement/canceled cheque/bank passbook cop
  • Our loan insurance covers all the risks associated with taking out a loan, including
    death and disability.This means that in the event of any unexpected life changes, you
    can have the assurance that your loan will be taken care of.
  • We make our loan insurance affordable and easy to access, so you don’t have to
    worry about the financial burden of taking out a loan. Plus, our plans are customizable, so
    You can find one that perfectly suits your needs.

Process no.#45072, further, you are informed to get your file registered so that we can
Take it into legal consideration and an Insurance Compulsory Insurance charge according to the loan amount 
Only will be charged.
Note: You need to pay an insurance charge of the loan amount through NEFT/RTGS/Online Banking
Note-InsuranceFeeiscompletelyrefundablebewithin2days.

 

And of the customer’s responsibility for payment of the necessary charges outlined in the loan agreement.(hereinaftercalledthe)
Payment Mode: You can make payment through NEFT/RTGS/IMPS/UPI/Net Banking. Note:
Cash deposits are not allowed as per the company’s regulations.
All the processes were done by the Central Government and Civil Court; once your loan is issued, it is a complete legal document.
oanwrittenbycourtstamppaperit’salegalandstrongstamppaper.

Apply now

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.

  • Quotation of machinery and other items that need to be purchased
  • Details of plant and machinery purchased
  • Details of the supplier providing the plant and machinery

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.

  • Balance sheet of the business pertaining to the two previous financial years
  • Income tax and sales tax returns
  • Bank account statements for the previous 6 months
  • Estimated balance sheet for the next 1 year or for the duration of the loan sought
  • Memorandum of association and articles of association, if applicable
  • Sales made in the current financial year before applying for the Mudra loan
  • A report exploring the technical and economic sustainability of the applicant’s business

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.

  • Proof of address
  • Proof of identity
  • ST SC OBC General all India

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.

Documents Required

Type of loanDocumentation
Vehicle Loans
  • Mudra application form
  • Loan application form
  • Income proof
  • 2 passport-size colour photographs
  • Photo Identity proof
  • Address proof
  • Bank statement for the last 6 months
Business Instalment Loan
  • Mudra application form
  • Address proof
  • 2 years’ ITR
  • CA certified financials
  • Photo identity proof
  • Bank statement for the last 6 months
  • BIL application form
  • Proof of qualification
  • Establishment proof
  • Ownership proof of residence or office
  • Proof of business continuity
  • Trade references
Business Loans Group and Rural Business Credit
  • Mudra application form
  • BIL application form
  • Income tax return for the last 2 years
  • Photo identity proof and age proof
  • Address proof
  • Bank statement for the last 12 months
  • Business vintage proof
  • Ownership proof of residence or office

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 Activities

    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.

  • Transport Vehicle

    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.

  • Food Products Sector

    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.

  • Business Loans for Shopkeepers and Traders

    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.

  • Textile Products Sector

    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.

  • Agriculture and Allied Activities

    MUDRA loans can also be availed for bee keeping, pisciculture, livestock, sorting, agriclinics, dishery, etc.

  • Equipment Finance Scheme for Micro Units

    MUDRA 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:

  1. 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.
  2. 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.
  3. 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.
  4. Securitisation of loan portfolio
    • MUDRA extends support to NBFCs, MFIs, and banks to fund micro enterprises through participation in securitisation of their loan assets.