PM Mudra Loan

PM Mudra Yojana

The majority of people hesitate to take a loan from a bank because of their high mortgage demands, and they can’t grow their businesses, or can’t do anything that can help them in the long run because they don’t have enough amount for the investment. For the ease of the Indians, the government of India Launched a scheme named PM Muda Yojana (PMMY).

Do You Know?

Under the PM Mudra Yojana scheme, the bank won’t charge a single penny for 6 months after providing an e-mudra loan.

In this scheme, the government is providing a loan amount of 10,00,000 rupees to each applicant, without any mortgage to the citizens who’re eligible for a loan and want to grow their business with the help of the mudra loan amount. Let’s move to the application process which is very simple and easy to implement.

PM Mudra Loan Online Apply

The government has launched an online portal and with the help of this portal, you can apply online by visiting the official website. Also, the approval or rejection of the application can be done online, so you don’t have to visit the bank every day for the approval of your application. Kidney read and apply the whole process and focus on the images for better understanding.

First of all, visit the official website of mudra loan which is, and go to the registration option, in order to verify your information.

The registration page will appear on your screen. Enter your mobile number which is linked to your aadhar card, and then the captcha code in the next section.

Click on the Get OTP button, and the terms and condition page will be shown on the screen. Tick-mark the options and then the system will send an OTP to your submitted mobile number. Enter that OTP and click on the submit OTP number.

pradhan mantri mudra yojana online apply
PMMY Registration Process

Now you’ve got access to the portal, you can choose which type of loan you need. Let’s suppose, you need a loan for your business, then you should go for the Business Activity Loan.

E Mudra Business loan Category
Loan Category

When you click on the check eligibility option, the system will ask you to provide the information related to your business including, type of business, location, loan amount, etc. Enter the business information, and click on the calculate eligibility option. The system will let you that your loan can be covered in the PM Mudra Yojana Loan Scheme. Click on the proceed button for further process.

PMMY Loan Amount
PMMY Loan Amount

In the next step, you need to provide personal documents including an aadhar card, pan card, sales details, and bank account details. Enter all details that are required and click on the proceed button.

PMMY Documents Required
Documents Required for Loan

When you click on the proceed button, a new window will open and it’ll ask you to enter all the details related to your business and sales. Enter all the correct details to avoid any problems, and click on the proceed button again.

Business Details
Business Details

After providing all the correct information related to your business, the application will be submitted and a list of banks will appear on your screen that offers loans. You can select the one which suits you.

PMMY Bank List
PMMY Bank List

Congrats! Your PMMY loan application has been submitted. Now you just need to visit the nearest branch of the bank, submit all the documents, and your PM Mudra Yojana Loan will be approved. (If you’re unaware of more PM Yojanas then visit pmyojanaawareness for more information).

Documents Required for PM Mudra Yojana

All the documents which are listed below are essential in order to get a mortgage-free loan for your business. Read all the points carefully and gather the documents which are mentioned below.

  • Aadhar Card
  • PAN Card
  • Application form
  • Strong Business Plan (CSC center is a good idea to start a new business)
  • Proof of Business Registration
  • Bank Statement (1 year)
  • Income Tax Returns.
  • Ownership Proof of Collateral (if any)

Mudra Loan Eligibility Criteria

  1. Applicant must have his/her own small business.
  2. Applicant must have a strong business plan if he/she doesn’t have any existing business.
  3. The applicant will mention the SHISHU category in the application form if he/she wants Rs. 50,000 as a loan.
  4. The applicant will mention the KISHORE category in the application form if he/she wants Rs. 50,000 to Rs. 5,00,000 as a loan.
  5. The applicant will mention the TARUN category in the application form if he/she wants Rs. 5,00,000 to 10,00,000 as a loan.
  6. If an applicant took a loan amount of 50,000 then he/she will need to pay zero percent margin money.
  7. If an applicant took a loan amount of more than 50,000 then he/she will need to pay a 10% margin money on that loan amount.
  8. Mudra loan interest rates vary from bank to bank. You need to visit your nearest bank branch to know the interest rate.
  9. The repayment process of PM Mudra Loan Yojana is between 3-5 years.
  10. The government and the bank provide a moratorium period of 6 months, and in those 6 months, the bank won’t charge you a single penny of the loan.

What is PM Mudra Yojana

The PM Mudra Yojana is a loan scheme that is launched by the government of India to provide financial support to micro and small enterprises. The main objective of this scheme is to promote entrepreneurship and provide loans to micro-enterprises that don’t have access to formal credit channels. 

The PMMY scheme offers a loan amount of 10 lakh rupees to small business owners including, vendors, shopkeepers, and other individuals. The banks are providing loans that are registered in the PM Mudra Yojana loan scheme. Each bank has its own PM Mudra Yojana interest rate. You can check the interest rate of the specific bank by visiting its official website.

The government of India has divided this scheme into 3 categories, depending on the amount of loan. The first one is the Shishu category. In this category, the applicants will get a loan amount of 50,000 rupees. The second one is the Kishore category. This category provides loans from Rs. 50,000 rupees to Rs. 5,00,000 rupees.

The third one is the Tarun category. This category provides loans amount of Rs. 5,00,000 to Rs. 10,00,000 rupees. Depending on the amount, the interest rate would vary. The PM Mudra Scheme loan will be provided by banks, non-banking financial companies, and other financial companies.

How to get PM E Mudra Loan

To get the e-mudra loan, first of all, you need to know whether you’re eligible for the loan or not. The loan is only offered to those who’ve got small businesses or entrepreneurs and need funding to grow their businesses. Also, the candidate must have a good bank statement and a solid business plan.

If you’re eligible for the e mudra loan then you need to choose a bank that can provide you with the loan. There are various banks that offer this scheme, you simply need to visit the official website of Jan Samarth which is, and register yourself on it. After the fill in the Pradhan Mantri Mudra Yojana application form online, visit your bank’s nearest branch.

Make sure to have the complete list of documents that are mentioned above because if any document would miss then the application process will not be completed. After submitting all the essential documents, you just have to wait for the loan’s approval. The lender will review your application, and if the Mudra loan approves, then the amount will be transferred to your bank account.

Types of Mudra Loan

  • Term Loan
  • Working capital

Term Loan

If a business owner wants to replace the old assets of the business with a new ones like machines or anything, then in that case, the business owner should get Term Loan. The type of loan also needs to mention in the PM Modi Mudra Yojana application form.

Working Capital

If a person already has a good business that generates income but wants to get a loan to bear his/her daily business expenses. In that case, that person should get a Working Capital category loan. The type of loan also needs to mention in the PM Mudra Yojana scheme application form.

PMMY Overview

Scheme NamePM Mudra Yojana
Launch Date08 April 2015
Launched ByMinistry of Finance
ObjectiveFinancial support to small businesses
Amount of LoanRs. 50,000 to Rs. 10,00,000
Repayment03-05 Years
BenefitsLoan without any Mortgage
PMMY Table

Final Wording

The government of India has launched the PMMY scheme to support small and micro-enterprises financially. The PM Mudra Yojana provides loans from Rs. 50,000 to Rs. 10,00,000 to business owners who want to grow their business, or want to start a new business. You can apply for the pradhan mantri mudra loan yojana by visiting the official website of Mudra.


The launch date of the PMMY scheme is 08 April 2015.

The PM Mudra loan yojana is implemented by the Ministry of Finance, Government of India.

The eligibility criteria have been discussed above in this article. 

The interest rate for loans under the PMMY scheme may vary from bank to bank depending upon the amount of loan and repayment tenure. 

Yes, you can apply online for pm mudra yojana by visiting its official website. Also, the whole application process for e mudra loan has been discussed above section of this article.

The PMMY full form is Pradhan Mantri Mudra Yojana.

The pm mudra yojana toll-free number is 1800-180-1111. The helpline is available from 9:00 AM to 6:00 PM on all working days.

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