Pradhan Mantri MUDRA Bank Loan Yojana Scheme Eligibility How to Apply Application Form Complete Details
Many citizens from India are eagerly searching for the details regarding Pradhan Mantri MUDRA Bank Loan Yojana Scheme which has been started recently by the Prime Minister of India Sh. Narendra Modi. So in this complete article we will provide you the full complete details on Pradhan Mantri Mudra Bank Loan Yojana PMMY Scheme for which you can apply loan under this scheme. As we are already aware, that the major policy of Prime Minister of India is to develop the Indian Economy. JanDhan Yojana Policy was first launched on behalf of this objective and MUDRA Bank which stands for Micro Units Development and Refinance Agency was launched on 8 April 2015.
So, what is MUDRA Bank?
MUDRA Bank is a financial initiative step started by the Prime Minister of India in order to develop the micro units and to provide these units with sufficient funds. Generally, small business units cannot avail loans from banks because of the insufficient funds to pay off the interest which is decided by the banks. So, MUDRA Bank was launched for this purpose to provide loans to such small business units so that they can avail the opportunity of Pradhan Mantri MUDRA Bank Loan Yojana Scheme. MUDRA Bank is still not a fully fledged bank and at present is going in its initial stages.
MUDRA Bank Loan Yojana Scheme provides loans for small businesses and low middle class families. It provides a minimum loan of Rs. 50, 000 and a maximum loan of Rs. 10 Lakh. Applicants who satisfy the eligibility criteria required for MUDRA Bank Loan Scheme are considered eligible to apply for the MUDRA Bank Yojana Loan. Many random questions are going on in the mind of applicants who wants to take loan from MUDRA Bank. Some of the common questions people are searching are:
How to apply for Pradhan Mantri MUDRA Bank Loan Yojana Scheme?
How much loan can we get under MUDRA Bank Loan Yojana Govt. Scheme launched by Pradhan Mantri Narendra Modi?
What are the conditions to get loan from MUDRA Bank Yojana Scheme?
What is MUDRA Loan Eligibility?
How and where to get MUDRA Bank Loan?
Application Form for Pradhan Mantri MUDRA Bank Loan
MUDRA Loan Eligibility in Hindi
What is the MUDRA Bank Loan Interest Rate?
How to take Loan under Pradhan Mantri MUDRA Yojana?
What are the benefits of MUDRA Loan Yojana Scheme?
What are the documents required for applying for loan under MUDRA Yojana?
In this whole article we will answer all the doubts going in your minds. If you still have any query you are free ask by commenting your questions in the comment box provided below. So let’s get back to the topic again.
MUDRA Bank Loan Yojana Details
This scheme provides loans in three stages namely: Shishu, Kishor and Tarun.
Shishu: It is the first stage in which an applicant can get loan of up to Rs. 50, 000 for small businesses. This category is for startups whose businesses have just been started.
Kishor: It is the second stage of MUDRA Bank Loan Yojana Scheme in which an applicant can get loan of up to Rs. 50, 000 to Rs. 5 lakh. This category is for those who businesses has been started but not yet established.
Tarun: It is the last stage of MUDRA Loan in which an applicant can get loan of up to Rs. 5 to 10 lakh. This category is for those who businesses are well established.
MUDRA Bank Loan Eligibility
Many people are asking the common question that who are eligible or who can apply for MUDRA Bank Loan Yojana Scheme. Well, all small businesses and enterprises in need of finance are eligible for a loan. Small business and manufacturing units like food services, vegetables and food vendors, hair cutting saloons, beauty parlours, transportation services, repair shops, hawkers, shopkeepers, artisans etc can apply for MUDRA Bank Yojana Scheme. Applicants can get a maximum of Rs. 10 lakh loan.
Banks Offering MUDRA Loan
- State Bank of India
- State Bank of Mysore
- State Bank of Hyderabad
- State Bank of Travancore
- State Bank of Bikaner & Jaipur
- State Bank of Patiala
- Vijaya Bank
- United Bank of India
- Union Bank of India
- UCO Bank
- Syndicate Bank
- Punjab & Sind Bank
- Oriental Bank of Commerce
- Indian Overseas Bank
- Corporation Bank
- Central Bank of India
- Canara Bank
- Bank of Maharashtra
- Bank of India
- Bank of Baroda
- Axis Bank
- Allahabad Bank
- Andhra Bank
- ICICI Bank
Apply for MUDRA Bank Loan Scheme Application Form Download and Documents needed
Currently, MUDRA is not an individual body or a different bank to provide loans to individuals. To get loan under this MUDRA Bank Loan Yojana Scheme, various public and private sector banks have been given the responsibility to provide loans under this scheme. One can approach the following institutions or banks to apply loan under MUDRA Bank Loan Yojana Scheme.
- All Scheduled Commercial Banks in public and private sector.
- Regional Rural Banks
- All Micro Finance Institutions (MFI), small business finance companies and NBFCs
- Scheduled urban and state co-operative banks
Here is step by step procedure to apply for Pradhan Mantri MUDRA Bank Loan Scheme:
- First of all prepare a business idea for which you need to apply for loan. You have to present your business idea along with the application form. The application form and other important documents are provided below.
- Then the burrower needs to visit the nearest private or commercial bank
- Present your business idea along with loan application form, passport size photos, photo identity proof and address proof.
- Fulfill all the formalities asked by the bank.
- After the completion of these steps, loan will be sanctioned.
Download MUDRA Bank Loan Application Form and Documents
Download MUDRA Loan Application Form for Shishu, Kishor and Tarun Category
Download Steps explaining how to get loan
Download Eligibility Criteria Details
Official Website: www.mudra.org.in
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