Mudra Yojana Eligibility, Apply, Interest Rate and more

pradhan mantri mudra yojana
Mukesh Jindal
Written by Mukesh Jindal

Mudra Yojana

pradhan mantri mudra yojana

What is Mudra Yojana?

PMMY means the Pradhan Mantri Mudra Yojana. The scheme was launched by the Prime Minister of India on April 8, 2015. The was announced to the nation by PM Mr. Narendra Modi. The scheme is to provide the finance to the people. In the form of the Loan. So that the people can set  up their own business. Banks are involved in the scheme. The candidate can apply for the scheme online.

What is Meaning Of PMMY ?

Pradhan Mantri Mudra Yojana

Read more about the Mudra Yojana as follows in the article. You will get the complete detail of the apply online, Eligibility and documents and various other sort of information.

Vision of Mudra Yojana

The Mudra Scheme is started for the convenience of the people. It will provide the people Financial help for the people to set up their business. It will ensure the economic and the social development. With the implementation of the scheme it will be ensured that the best services ad support is provided to the people.

Mission of Mudra Yojana

The Mudra Yojana will create type culture for the value based entrepreneurial for the sustainable and inclusive development.The scheme will also help for the success with the financial security. As the collaboration of the partner to achieve it.

Mudra Yojana Details

The details required for the Mudra Yojana. As from the launch to the implementation. Complete detail in the table for the ease of the reader. Check the table below:

S.no Indicators Details
1 Scheme Name Pradhan Mantri Mudra Yojana or Mudra Mitra or Modi Loan Scheme
2 Launched on 8th April 2015
3 Last Date No last date
4 Beneficiaries Small Business Owners
5 Amount of Loan Availed From Rs 50,000 to 10 Lakhs
6 Stages of Scheme Shishu (50K), Kishor ( 5 Lakhs), Tarun (Rs 10 Lakhs)
7 Area Covered Across India
8 Launched By PM Narendra Modi

Eligibility to get Loan Under Mudra

The eligibility for the Candidate who want to avail the Loan under the Mudra Yojana. Check the points below for the same:

  1. The candidate should be the citizen of India.
  2. The candidate who belongs to non farming sector are eligible.
  3. Contender who are involved in the work of manufacturing, processing, trading or service sector can opt for the Mudra Loan Scheme.

Who can avail Loan under Mudra Yojana?

The following contender or the business entrepreneur can avail the loan under the Mudra Yojana.

  • Proprietorship
  • Small industries
  • Small manufacturing units
  • Service sector units
  • Food service units
  • Repair shops
  • Shopkeepers
  • Partnership firms
  • Fruit or vegetable vendors
  • Truck operators
  • Machine operators
  • Food processors
  • Other industries in rural and urban areas.

Categories of Mudra Yojana

Mudra Yojana will be implemented in the form so that each candidate can attain benefit of the scheme. It has been categorized in three different categories. You can check the information regrading each category as follows. To know for which category you can apply Loan.


Under the Shishu Category. It is the first category of the Mudra Loan Implementation. You can get the Rs. 50,000 of Loan. As the candidate who belongs to the micro units or small business owners can access the loan under it. The category will give the Loan help to the people for the business start up or the entrepreneur who recover less amount of loan.


It is the Second category of the Loan sanction. It is for the people who have started their business. Now they require loan for the running of the business. The Loan amount of f Rs. 50,000 to Rs. 5 lakh  is granted under the scheme to the contender. Many of the business enterpriser who wants to broaden their business apply for the Kishor category of Loan.


The Third and the utmost category of the Mudra. It offers the Loan amount of Rs.10 lakh. It is applied by the business man who wants the capital for the expansion of the business. It is the maximum amount of Loan which can be applied under the category.

Sector covered under Scheme

To maximize the coverage for the beneficiaries under the Loan scheme.To meet the requirement for the business activities. The government scheme Mudra offers loan to the following sectors.

  • Land Transport Sector / Activity – It can include the personal transport vehicles such as auto rickshaw, 3 wheelers, e-rickshaw, passenger cars, taxis, small or large vehicles and the goods for them.
  • Community, Social & Personal Service Activities – The activites such as cycle and motorcycle repair shop, beauty parlours,  saloons, boutiques, dry cleaning, tailoring, Medicine Shops, Courier Agents, etc.
  • Food Products Sector – This sector include the making of papad, achaar, jam / jelly, or the other agricultural food preservation at rural level and storage activities.
  • Textile Products Sector / Activity – To provide help to the activities such as handloom, powerloom,  embroidery chikan work, hand work zari and zardozi work and other works for the textile or cloth manufacturing.

Read Also :- Best Health Scheme In India

Mudra Scheme Official Portal

The government has started the Online facility for the assistance of the people. With the launch of the online facility. The official portal for the Mudra Yojana can help the people to get the complete information they require.

mudra loan portal


Documents Required to apply Mudra Loan

Which documents required for Mudra Loan?

The candidate who wants to avail the Loan can visit the nearby Bank. Along with the documents as follows:

  • Proof of identity–  The candidate can give any of the identity proof Voter’s ID Card, Driving Licence, PAN Card, Aadhaar Card, Passport etc.
  • Proof of Residence :  The candidate can give Ration card, Electricity bill, water bill, Domicile certificate or other proof for residence. Any of them.
  • Two Recent Photograph of the Applicant
  • The contender has to give the Quotation of Machinery or other items to be purchased.
  • Complete information regarding the Name of Supplier,details of machinery , price etc.
  • Proof of Identity and the Address of the Business Enterprise  along with the  Copies of relevant Licences or certification.
  • The contender has to give the proof of category like SC / ST / OBC / Minority etc.

Note : For all PMMY loans, the following are to be noted.

  • No processing fee is charged from the candidate.
  • No collateral is  required to avail Loan.
  • The Repayment period of loan has been extended to 5 years
  • The candidate applying for the Mudra Loan should not be the defaulter of the Bank/ Financial Institution

Apply for Mudra Loan Online

How to apply for the Mudra Loan Online?

If you are interested to apply for the Mudra Loan. You can apply it online. It is very easy to apply for the Mudra Loan. You can visit the official site. As the link to access the official site is as follows. The interested contender can access the link by clicking on it.

Click Here

Reference Image:

mudra loan

You can visit the Mudra Mitra Portal. Or you can click on the Link as folloes:

Click Here

Reference Image:

mudra loan apply online
  • Click on the Link above.
  • Click on New user option.
  • Then you have to enter the detail to register yourself at the portal.
  • Thereafter you will get the Login id to login to the official site.
  • Select the Hand hold support type.
  • Fill in the detail for the application form.
  • Then you can enter information for the Referred lender.
  • Submit the documents.
  • Then submit the application form.
  • You will get the acknowledgement number.
  • Then you can approach the bank for the further paperwork to avail the loan.

Read Also :- Sukanya Samriddhi Yojana

Mudra Loan Interest Rate

The interest rate offered by the bank for the each type will be as follows. You can get the Loan at the easy payable interest rate. Each category of loan has variant interest rate.

The interest rate for the three categories are as follows:

  • Shishu – 10% to 12%
  • Kishore – 14% to 17%
  • Tarun 16% onwards.

Bank which offer Mudra Loan

What the interest rate applicable for Mudra Loan?

The List of  the Banks Offering the Mudra Loan under the Mudra Scheme. You can get the information in the table below. As the complete information regarding the Mudra Loan bank and the interest rate and the tenure for the Mudra Yojana.

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

Mudra Loan Card

Mudra Card are issued to the people for the accessing of the Loan. It is type of the ATM card. It also act as the debit card. Allowing the candidate to with draw the amount. The candidate can get the pre approved loan amount using the Mudra Card.


Mudra Card work as the Rupay card. You can make use of it as follows:

  • Withdraw cash from ATMs
  • Swipe the card at PoS.
  • Use as Credit card or overdraft facility

All the banks who offer Mudra Loan will provide the customer with the Mudra Card for the convenience of the user.

Helpline for Mudra Loan

In case of the Queries or you can get more information. You can get to know more by accessing the following helpline numbers.

1800 180 1111 and 1800 11 0001

It also differ from one bank to other. But you can access the information from the above helpline numbers.

About the author

Mukesh Jindal

Mukesh Jindal

My name is Mukesh Jindal, and I am from New Delhi, India. I am an engineer by profession. I am employed by an IT company in which I work. My topics of interest include technology, mobile, and apps.

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