PM Mudra Loan Details : Eligibility, Docs and How to Apply

 PM Mudra Loan Details -  Future millionaire Entrepreneur welcome to Bankboi are you looking for a Business loan without collateral security? Let’s thank PM Mudra loan which can be easily available for anyone who is eligible. If you you are eligible you can apply online and get an instant loan to your Bank Account. Here we are going to see Some details about PM Mudra Loan such as Eligibility, required documents, and How to apply for Mudra Loan. You can apply for Mudra Loan Online or Offline. So let's Begin...

PM Mudra Loan Details: Eligibility, Docs, and How to Apply

Type of Facility of Mudra Loan: Working Capital and Term Loan

Purpose Of Mudra Loan: Business purpose, capacity expansion, modernization

Target Group: Business Enterprises in Manufacturing, Trading and Services sector including allied agricultural activities.

Maximum Loan Amount under Mudra Loan Scheme -
The maximum loan amount under the Mudra Loan Scheme is upto Rs 10 lacs

Types/ Categories of Mudra Loan-

There are Three types of Mudra Loans which are as follows...

  1. SHISHU - Loans up to Rs.50,000/-
  2. KISHORE - Rs.50,001/- to Rs.500,000/-
  3. TARUN - .500,001/- to Rs.10,00,000/-

Margin (%) -

Up to Rs. 50,000/- Nil
Rs. 50,001 to Rs. 10 lacs: 10%

Repayment Period of Mudra Loan -

WC/TL: in 3 - 5 yrs including a moratorium of up to 6 months depending on the activity/ income generation.
Review of WC/TL to be done annually.

Processing Fee -

  • No processing fee for SHISHU and KISHORE
  • For TARUN: 0.50%(plus applicable tax) of the Loan amount

Eligibility Criteria -

Anyone is eligible for Mudra Loan, certain terms and conditions are applied. Anyone may apply Mudra Loan for Existing & New units.

Collateral Security -
No Collateral Security Required for Mudra Loan

Required Documents -

  1. PAN Card
  2. Adhaar Card
  3. Business Aadhar (Udyog Adhar)
  4. Business Plan

How to Apply for PM Mudra Loan-

  • If you are SBI existing customer with an internet banking Facility you can apply for SBI PM Mudra Loan online and get a Loan instantly if you are eligible. Apply Now
  • You can also Apply Udyami Mitra Portal (www.udyamimitra.in).
  • You can also visit the nearest Branch with all required documents and Apply for Mudra Loan. This method may take time compared to other online processes.

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