Pradhan Mantri Mudra Loan Scheme (Yojana) Eligibility documents, Online Apply

What is Mudra loan scheme?

Pradhan Mantri MUDRA Yojana (PMMY) scheme is launched by Narendra Modi prime minister of india on April 8, 2015. In Mudra Loan Scheme, Govt offering loan upto 10 lakhs to non-corporate, non-agricultural small workers and Small enterprises. These loans have been classified as Mudra-Loans under PMMY scheme.

How to get Mudra-Loan-Scheme:- These loans are given by many indian commercial banks, MFIs & NBFCs, RRBs, small finance banks and co-operative banks.

According latest upadaes PM Narendra Modi said that Banks and financial institutions have given Rs. 6 lakh crore to 12 crore Small beneficiaries.

pmmy mudra loan scheme

Is there any subsidy for Mudra loan?

According to the Pradhan Mantri Mudra Loan Yojana , there is no such subsidy by the Govt Finance Ministry. But according to sources, the government of india has not yet decided whether any subsidy will be provided in the interest rate.


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interest rate for Mudra loan scheme

Mudra Loan Bank Interest rate Tenure
HDFC 12.75% to 20% 1-5 years
HDBFS 15.95% to 18.95% 1-3 years
Tata Capital 13.49% to 19.50% 1-5 years
Kotak Mahindra Bank 11.5% to 18% 1-5 years
Capital First 13% to 20% 1-5 years
Citibank 12.75% to 15.75% 1-5 years
IndusInd Bank Ltd 12.99% to 18.25% 1-5 years
Fullerton 19.50% to 37% 1-4 years
Standard Chartered Bank 12.50% to 17% 1-5 years
ICICI Bank 11.49% to 17.50% 1-5 years
Aditya Birla Finance Ltd 14% 1-3 years
Allahabad Bank 13.70% 1-5 years
Bank of Baroda 14.15% 1-3 years
Bank of Maharashtra 15.20% 1-3 years
Bank of India 12.7% to 14.7% 1-3 years
Canara Bank 13.65% 1-3 years
Central Bank 12.70% 1-3 years
Dena Bank 13 % to 14% 1-3 years
IDBI Bank 12.75% to 13.75% 1-5 years
Indian Bank 12.65% to 13.65% 3 years
Indian Overseas Bank 14.70% 1-5 years
Karur Vysya Bank 13.9% to 16.40% 1-3 years
Oriental Bank of Commerce 11.2% to 12.95% 1-5 years
South Indian Bank 14.80% 1-4 years
State Bank of Bikaner and Jaipur 13.2% to 14.2% 1-5 years
State Bank of Hyderabad 15.25% to 15.75% 1-3 years
State Bank of India 17.80% 1-4 years
State Bank of Mysore 16.90% 1-3 years
State Bank of Patiala 12.65% to 14.65% 1-5 years
State Bank of Travancore 13.2% to 13.45% 1-5 years
Tamilnad Mercantile Bank 14.4% to 16.4% 1-5 years
UCO Bank 14.1% to 15.1% 4-5 years
Union Bank of India 14.4% 1-5 years
Vijaya Bank 13.7% 1-5 years


Which documents required for mudra loan scheme?


  • Applicant’s self certified dentification-proof should be presented.( Driving License, PAN Card, Aadhar Card, Passport etc )
  • Applicant’s Residence Proof (telephone bill, Electrcity bill not more than 3 months old)
  • Applicant’s property tax receipt (no more than 2 months old)
  • A copy of Applicant’s bank statement Bank official.
  • A copy of Voter ID Card .
  • A copy of Aadhar Card .
  • A Copy of Passport etc.
  • 2 recent Passport size Photographs.
  • address proof of their Business Enterprise.
  • If Applicant is under SC / ST / OBC, he submit his category certificates.


Pradhan Mantri Mudra Loan Scheme Stages

#1. Shishu upto 50 Thousands Rupees

#2. Kishor upto 5 Lakhs Rupees

#3. Tarun upto 10 Lakhs Rupees


PMMY Mudra Loan Card

Mudra Loan Card


The Mudra-Loan-Card will work with the Ruppe platform and can be used in POS or Point of Sale. This card will give users the following permission:

  • Cash withdrawal from ATMs.
  • Swipe cards on POS.
  • Can be used as a credit card to avail the overdraft facility.

As of now the following banks gives Mudra Card in Mudra Loan Scheme:


  1.  Corporation Bank
  2.  Punjab National Bank
  3.  Allahabad Bank
  4. Kotak Mahindra Bank
  5. Canara Bank
  6. Axis Bank
  7. State Bank of India
  8. Vijaya Bank

Pradhan Mantri Mudra Loan Scheme For Women under SC/ ST/ OBC

The Government has clarified that the women SC and OBC Division will be prioritized during the loan under the Mudra-Loan-Scheme.

However, there are no reservations either. We are looking forward to consolidating data you must fill out this information when filling out the currency loan form.

Who Can Apply for Pradhan Mantri Mudra Loan Yojana (PMMY)?

This loan is only for small businessmen, there is no such exact criterion. But one thing is certain that if you have high business then one more thing is that this loan is not for the purpose of education.

You can get a commercial loan but not personal, because all persons above 18 years can apply for currency loan.

These are the list of business for which Mudra Loan cannot be taken.

  1. Personal Requirement
  2. Rich or Big Businessman
  3. Buying Personal Car or Bike or any other vehicle
  4. Educational Purpose

RRB Group D Application Status

PMAY Gramin Awas Yojana

How to apply for Mudra Loan PMMY


There is no formal or structured method of enforcing pmmy mudra loans. You will need to contact all the banks listed in our blog and give them a detailed description of your business.

Then the currency will be asked to fill the form. If you already have one current account in that bank, it will help you process your application quickly.

If you need any device for your business, please take an invoice for it. This is a collateral free loan, so it will help if you have a good credit history. Please take the acknowledgement slip with you for reference.

Official Website of PMMY

Helpline,Toll Free, Customer care) Numbers for Mudra Loan Scheme

  • 1800-180-1111
  • 1800-11-0001