💰 Loan Details
| Details | Information |
|---|---|
| Loan Amount | ₹50,000 – ₹10 Lakh |
| Interest Rate | As Per Bank/NBFC Policy |
| Loan Tenure | Up to 5 Years |
| Processing Fee | Usually Nil or Minimal |
| Approval Time | 2 – 15 Days |
| Loan Type | Business Loan (Mudra Loan) |
Key Features
- Loan amount available up to ₹10 lakh
- No collateral required for eligible applicants
- Designed for small businesses and self-employed individuals
- Available through banks, NBFCs, and microfinance institutions
- Flexible repayment options
- Supports business expansion and working capital needs
If you are planning to start a small business or expand your existing business, the Mudra Loan Scheme can help you access financial support without providing collateral. The scheme is specially designed for small entrepreneurs, shop owners, manufacturers, traders, and service providers.
📌 Loan Summary
| 💰 Loan Amount | ₹50,000 – ₹40 Lakh |
| 📈 Interest Rate | Starting From 10.30% |
| 📅 Tenure | 12 – 72 Months |
| 📝 Processing Fee | Up to 2% |
| ⚡ Approval Time | Instant – 24 Hours |
Eligibility
To apply for a Mudra Loan, applicants generally need to meet the following criteria:
For Business Owners
- Indian citizen
- Minimum age: 18 years
- Small business owner, trader, manufacturer, or service provider
- Existing or proposed business activity
- Satisfactory credit profile (if applicable)
Eligible Business Categories
- Retail shops
- Small manufacturing units
- Service businesses
- Food processing units
- Transport operators
- Repair shops
- Home-based businesses
- Micro enterprises
Mudra Loan Categories
Shishu Loan
- Loan Amount: Up to ₹50,000
- Suitable for new businesses and startups
Kishor Loan
- Loan Amount: ₹50,001 to ₹5 Lakh
- Suitable for growing businesses
Tarun Loan
- Loan Amount: ₹5 Lakh to ₹10 Lakh
- Suitable for business expansion
Documents Required
Keep the following documents ready while applying:
Identity Proof
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
Address Proof
- Aadhaar Card
- Utility Bill
- Passport
- Driving Licence
Business Proof
- Business registration certificate (if applicable)
- GST registration (if applicable)
- Shop establishment certificate
- Business-related documents
Financial Documents
- Bank statements
- Income proof (if required)
- Business financial records
Passport Size Photographs
How To Apply
Online Application Process
- Visit the participating bank or lender’s website.
- Select Mudra Loan.
- Choose the appropriate loan category.
- Fill in the application form.
- Upload required documents.
- Submit the application.
- Complete verification.
- Receive approval and loan disbursal if eligible.
Offline Application Process
- Visit your nearest bank branch.
- Request a Mudra Loan application form.
- Select Shishu, Kishor, or Tarun category.
- Fill out the form carefully.
- Submit required documents.
- Complete verification formalities.
- Wait for approval and disbursal.
Important Note
Interest rates, loan amount eligibility, processing fees, and approval timelines may vary depending on the lender, business profile, credit history, and current lending policies. Applicants should verify the latest details with the respective bank or financial institution before applying.
