Pradhan Mantri Mudra Loan Yojana Application Form Online @

Pradhan Mantri Mudra Loan Yojana

Pradhan Mantri Mudra Loan Yojana Application Form Online for New/ Small Business Startup @ Pradhan Mantri Mudra Yojana is one of the biggest attempt made by our Prime Minister Narendra to fund all the unfunded. Mudra stands for “Micro Units Development and Refinance Agency”. This move was initiated by Prime Minister Narendra Modi after the success of “PM Jan Dhan Yojana” which was meant for all the people who are not connected with the Banking to connect them in Banking. The only purpose of the scheme is to provide a fund to all the non-corporate small-business owners. All the details about Pradhan Mantri Mudra Loan Yojana will be available here.

Small business owners require microfinance in order to make their business easy The Mudra Bank Loan Yojana is created to make the process of microcredit easy, which is provide Rs 10 Lakh loan to small business owners. The main slogan behind this scheme is “Funding the Unfunded”.

Pradhan Mantri Mudra Loan Yojana Scheme Application Form Online @

Pradhan Mantri Mudra Loan Yojana
Pradhan Mantri Mudra Loan Yojana

Important Details about Pradhan Mantri Mudra Loan Yojana (Scheme)


Name of the schemePradhanMantri Mudra Bank Loan Yojana or the Modi Loan Scheme
Last DateNot Yet Announced
Target AudienceSmall Business Owners/ New Startups
Total Loan AmountFrom Rs 50,000 to 10 Lakhs
Scope of SchemeAll across India
Different stagesShishu (Rs. 50,000), Kishor (Rs. 5 Lakhs) and Tarun ( Rs. 10 Lakhs)
Launch Date8th April 2015
Launched byPM Narendra Modi


The whole Mudra Bank Loan Scheme is a two-way process. On one hand, small business owners or entrepreneurs will be provided sufficient funds for their startup. On the other hand, a recovery method will be started for all the other banks which will be precise and effective. Hence, any person taking a loan under this scheme, he/ she has to repay within a time frame of 5 to 7 years.

Various Schemes available in Pradhan Mantri Mudra Loan Yojana

Pradhan Mantri Mudra Loan Yojana

There are total 3 schemes available in PM Mudra Loan Yojana, they are given below:

Shishu: This scheme is specially made to attract all the small entrepreneurs, who want small funds or who want to start a new business. In this stage, the applicant will receive up to Rs 50,000.

Kishor: This scheme is specially created for all the Entrepreneurs who want to have funds between 50,000 to 5 lakh rupees. All the Entrepreneurs who want to start their business or for all those who want to enhance their current business.

Tarun: If a candidate falls under a particular Eligibility Criteria, then he/ she can apply for Rs 10 lakh loan. This is the highest amount of loan that an Entrepreneur can apply under the PM mudra Loan Yojana.

Why should one prefer PMMY Loan against other loans for Business or Startup?

  • Pradhan Mantri Mudra Bank Yojana is one of the best sectors in which more than 120 million number of people are employed. The scheme is going to benefit more than 58 million small business owners in the country. All the people who are working in this sector come from less privileged society.
  • There are a very large number of small business owners in the country who don’t want to get involved in the process of banking, due to various issues with the funds. There are lots of banks who just focus on their products & services, by which bank gets high-interest rates and acquire money. With the help of Pradhan Mantri Mudra Loan Yojana, all of these entrepreneurs will involve in process of banking.
  • Due to inadequate corpus and unorganized management of credit facility, the loan was unable to reach needy entrepreneurs. Under PM Mudra Loan Yojana, all of these issued will be solved and dreams of new entrepreneurs will be fulfilled.
  • Due to the issue of repayment, various financial institutions were not able to provide proper funds to the small business owners. However, under Pradhan Mantri Mudra Loan Yojana, all of these issues will be taken care off.

What will be Interest rate of Pradhan Mantri Mudra Bank Loan Yojana?

A lot of people have raised questions about the Mudra bank Loan Interest rates. However, there is not any declaration about interest rates. There is only one information obtained, which is all the banks which are participating in the Mudra Bank Loan Yojana will have a freedom to choose their own interest rates, on the condition that it justifies the main scheme and concept of the Mudra Loan scheme for small business startup.

Eligibility Criteria required to apply for Mudra Bank Loan Scheme

  • The person’s age should be 18 years to apply for this loan.
  • Pradhan Mantri Mudra Bank Loan is only for small business owners and one can only apply for this loan for commercial and business owners and not for any personal purposes.
  • You can get this loan for buying a vehicle which will be useful for commercial purposes.
  • You cannot get this loan for any educational purposes.
  • PM Mudra Bank Loan Yojana is only meant for small business owners, so if your turnover is higher than a particular limit, then you can’t apply for it.

How to Apply for Mudra Bank Loan Yojana (Application Form or Online Apply @

There is no fixed process to apply for Mudra Bank Loan Yojana. If you want to apply for Mudra Bank Loan Yojana Scheme then you can visit any of the banks listed below to apply for this loan. Bank officer will ask you will fill up the form. If you possess current account in the bank, then the process of application will take less time. Apart from this, if you want to claim any of the equipment of your business, then please carry an invoice for that equipment. If you have a good credit history, then it will be helpful for this collateral free loan. Lastly, please don’t forget to carry acknowledgment slip for reference.

Please note that there is not any online method to apply for this loan. Also, lots of entrepreneurs are unaware of this scheme. Hence, lack of proper knowledge and efficiency many people are not applying for Mudra Bank Loan Scheme. In order to basic information about the scheme, check Flowchart of Mudra Bank Loan.

Process Flow Diagram

For any of Queries or doubts regarding Mudra Bank Loan Scheme, businesses and startups can contact offices as well as helpline numbers. The main office of PMMY is located at Mumbai. Apart from this, a lot of regional offices are available in different states from where you can get Application form for the scheme.

In order to get details about Mudra Loan, the borrower can contact Mumbai or any of the identified MUDRA Nodal Officers, details of which are available on the Official website, i.e. Also, you can send any query or suggestion on

Anyone can contact below-listed MFIs for any kind of information about Mudra Bank Loan Scheme.

Pradhan Mantri Mudra Loan Yojana Customer Care Number or Toll-Free Number

If you have any of the issues or query regarding Mudra Bank Loan, then you can contact the Helpline Number listed below.

  • 1800 180 1111
  • 1800 11 0001

List of Banks Participating under Mudra Bank Loan

The following list of banks are participating under the Pradhan Mantri Mudra Bank Loan.


Name of BankRate of Interest
State Bank of IndiaNot Known
State of Bank of HyderabadNot Known
State Bank of Bikaner and JaipurNot Known
State Bank of MysoreNot Known
State Bank of TravancoreNot Known
State Bank of PatialaNot Known
United Bank of India9.65% to 11.15%
UCO BankNot Known
Punjab and Sind BankNot Known
Indian Overseas BankNot Known
Central Bank of IndiaNot Known
Bank of Maharashtra9.7% to 11.7%
Andhra Bank9.75% to 11.5%
ICICI BankNot Known
Vijaya BankNot Known
Union Bank of India9.65% to 11.15%
Syndicate BankNot Known
Oriental Bank of CommerceNot Known
Corporation Bank11% to 11.9%
Canara BankNot Known
Bank of IndiaNot Known
Axis BankNot Known
Allahabad Bank9.7% to 11.7%

Major Differences between Mudra Bank Loan and Personal Loan


Mudra LoanPersonal Loan
Mudra Loan will only be provided by Government, hence it is fully safe and secure.Personal Loan can be provided by Government or by any private financial institution.
A genuine business plan is to be shown in order to get PMMY.A justified reason is needed in order to get personal loan
The loan will be provided through Mudra Credit Card along with a prescribed limit.Credit card is not issued separately in case of a personal loan.
Tenure of Repayment will be as high as 7 years.Tenure of Repayment is low.


Pradhan Mantri Mudra Loan Yojana FAQs

1. What is the Interest rates in Mudra Yojana?

Interest rates in PMMY Yojana are modified on regular basis and are mainly decided by the leading Institution on the basis of the guidelines provided by RBI.

2. What is the target audience in Mudra Yojana?

People belonging to Non-Corporate Small Business segment which include Shopkeepers, Truck operators, fruit/ vegetable vendors, small industries, food processors, small vendors, etc.

3. What’s the main reason behind different interest rated for different institutions?

Mudra loans are basically unsecured in nature as there is no guaranty to avail the loan. This is the main reason due to which interest rates vary from one institution to another. Here, Organization calculates the risk factor & sets the rates appropriately.

4. Will I receive any subsidy from central government?

No, these loans are not subsidized by central or state Government.

5. Where do I get Mudra Loan Application Form?

You can find Mudra Loan Application form from the official website or from any of the other websites.

6. What is the repayment criteria for the Mudra Yojana?

All the terms & conditions related to repayment are decided by the Institution as per the rules on the basis of the cash flow of business in question.

7. Do all the banks in India fall under the Mudra Scheme?

In July 2015, Department of Financial Services (DFS) has sent advisories to the Public Sector Banks, Scheduled Commercial Banks & Regional Rural Banks for conducting all the loans up to Rs 10 Lakh disbursed for non-farm income generation activities after 7th April 2015 under PMMY. DFS has also requested banks to provide loans as under the scheme and decided targets according to their branch.

8. Since when is the PMMY Scheme active?

Mudra Loan Yojana is active from the 8th of April 2015.

9. What is the processing time for loans provided under PMMY?

Lower amount Shishu Loans are provided under 7-10 days while other processing time for other loans will vary as per the lender.

From above details, it is clear that Pradhan Mantri Mudra Loan Yojana is absolutely a great initiative by the Government which will be helpful for all the small business owners and entrepreneurs. By referring all the above details, you can apply for this scheme. Also, it can be noted that this is a much-needed initiative in the country.


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