PMMY Mudra Loan Online Apply SBI | Prime Minister Mudra Loan Scheme Online Form | Pradhan Mantri Mudra Yojana Application Form | Pradhan Mantri Mudra Loan Scheme 2023
Mudra Loan Scheme Form Apply – What is PM Mudra Loan Scheme? How to take the loan on an Aadhaar card from Pradhan mantri mudra loan yojana
Under Pradhan Mantri Mudra Loan Yojana (PMMY) 2023 of the Prime Minister Narendra Modi government, people can now apply online to get a bank loan of up to Rs 10 lakh, and along with this, the Application Form PDF of PM Mudra Loan Scheme can be downloaded as mudra. Can download it from org. in, friends, through this post, you are going to tell all of you that under this Pradhan Mantri loan yojana 2023 of the Modi government, I can go online to banks to get child, teenager, and youth loans. Check complete details like applying offline, check eligibility criteria, list of documents, etc.
Pradhan Mantri Mudra Yojana 2023
Let us tell you that a budget of Rs 3 lakh crore was prepared by the central government for the Mudra loan, out of which loans worth Rs 1.75 lakh crore have been disbursed so far. Those who want to take a loan under Mudra Yojana 2023, will have to pay no processing charges for taking a loan. Under this scheme, the loan repayment period has been extended by 5 years. The people of the country are given a Mudra card to take a Mudra loan under this Pradhan Mantri Mudra Loan Yojana.
Mudra Yojana ( PMMY )
| Scheme Name | Prime Minister Mudra Loan Scheme |
| Year | 2023 |
| plan launched | 8 April 2015 |
| plan launched | by Prime Minister Narendra Modi |
| Objective | Providing loans to businessmen to develop business |
| Beneficiary | citizens of the country |
| Loan | From Rs 50 thousand to Rs 10 lakh |
| official website | mudra.org.in |
What is PM Mudra Yojana?
Micro Units Development And Refinance Agency (MUDRA) loan scheme under PMMY is an initiative of the Government of India. Which provides loan assistance to individuals, SMEs, and MSMEs. Under this scheme, the loan given to the beneficiary citizens has been divided into three categories. Based on the Shishu, Kishor, and Tarun categories, the beneficiaries can get loans based on their needs according to this scheme. Beneficiary citizens are not required to mortgage their property for a grant to the banks for availing Mudra loan. Under this scheme, the beneficiary citizen can pay the loan amount for 3 or 5 years. The maximum beneficiary can apply for a loan of Rs 10 lakh under the Mudra loan scheme for his business.
Under the PMMY scheme, three types of loans are provided:
- Shishu Mudra Yojana: This loan is for businesses in the early stages of growth, with a loan amount of up to Rs.50,000.
- Kishore Mudra Yojana: This loan is for more established businesses that require funds for expansion, loan amount ranges between Rs.50,000 to Rs.5 lakh.
- Tarun Mudra Yojana: This loan is for established businesses that require a large number of funds for further expansion, the loan amount ranges between Rs.5 lakh to Rs.10 lakh.
- The main objective of the PMMY scheme is to provide financial assistance to micro and small enterprises and to promote entrepreneurship in the country. To be eligible for a loan under the PMMY scheme, the applicant must be a micro or small enterprise, and the loan must be used for business purposes only.
The PMMY scheme is implemented through a network of lending institutions such as public sector banks, private sector banks, regional rural banks, microfinance institutions, and non-banking financial companies.
Process of application in Pradhan Mantri Mudra Loan Scheme 2023
Online process
Interested citizens of India who want to register online for Pradhan Mantri Mudra Loan Yojana 2023. They can easily check by following the steps given below-
- First of all, you have to visit the official website of the Mudra Loan Scheme. After this, the homepage of the website will open in front of you.
- On the homepage of the website, you will see the types of Mudra Yojana which are as follows: –
infant
teenagers
youth - Here you have to choose one of the three types according to you, after which a new page will open in front of you.
You have to download the application form from this page. After downloading the form, take a printout of it. - Now you have to fill in all the important information asked in this application form carefully. After entering all the information, attach the relevant documents with the form.
- After this, you have to submit this application form by taking it to your nearest bank branch. Here your application will be verified, and after 1 month the loan amount will be deposited in your bank.
offline process
- First of all, you have to go to the concerned bank covered under Pradhan Mantri Mudra Loan Yojana.
- You have to collect the Mudra loan application form from the concerned officer in the bank. After this, you have to fill in all the necessary information in this form like: – Name, Address, Mobile Number, Aadhaar Card, etc.
- After filling in all the information, attach all the necessary documents with the form and submit it to the bank officer.
- Your form will be checked and verified by the bank officials, and after 1 month the loan amount will be deposited in your bank account.
- Procedure to login to Mudra Portal
- First of all, you have to visit the official website of the Mudra Loan Scheme. After this, the homepage of the website will open in front of you.
- On the homepage of the website, you have to click on the login button, after which a new page will open.
- On this page, fill in your name, password, and captcha code and click on the given login button.
- In this way, you will be able to log in to PM Mudra Portal.
The objective of the Prime Minister Mudra Loan Scheme
This scheme is more useful for those people, who are not able to get a bank loan to start their businesses due to not being able to fulfill the rules of banks. Under PM Mudra Loan Yojana, guarantee a free loan by the Government of India, which will be provided from Rs 50000 to Rs 10 lakh. Beneficiaries will become self-reliant and empowered through this scheme. Any person can easily take a loan from Mudra loan. Loans up to 10 lacks can be easily taken from this Mudra loan, the need for any guarantee will be new in the Mudra loan scheme obtained by the scheme. Under the Pradhan Mantri Mudra Yojana 2023, the loan amount has been disbursed to 91% of the beneficiaries in the first three quarters of the financial year 2020-21. [ Also Read – Swamitva Yojana 2023: PM Swamitva Yojana Online Registration, Benefits, Eligibility ]
A total of 2.68 crore beneficiaries have been approved under Pradhan Mantri Mudra Loan Yojana, under which Rs 1,62195.99 crore will be provided to the beneficiaries.
Out of this amount, Rs 1,48,388.08 was provided to the beneficiaries till January 8, 2021. 97.6% and 97% of loans have been disbursed through banks, non-banking financial companies, microfinance institutions, etc. in FY20 and FY20. 2019. is.
Around Rs 329684.63 crore and Rs 311811.38 crore have been transferred to the accounts of the beneficiaries.
Features of Mudra Loan
| loan type | Term Loan, Working Capital Loan and Overdraft Facility |
| Types of Mudra Yojana | children, adolescents and young adults |
| loan amount | Under Shishu plan: Up to ₹50,000Under Kishor Scheme: ₹50,001 – ₹5,00,000Under Tarun Scheme: ₹5,00,001 – ₹10,00,000 |
| Rate of interest | As per the applicant’s profile and business needs |
| Collateral / Security | not required |
| payment term | 12 months to 5 years |
| processing fee | Nil or 0.50% of the sanctioned loan amount, depending on the bank / lending institution |
Benefits of Mudra Loan
- Collateral-free loan – No collateral or security deposit is required with banks/NBFCs
- Zero to nominal processing fees and low-interest rates
- Interest subvention for women entrepreneurs
- Loans covered under Credit Guarantee Schemes from the Government of India
- It can be used as a term loan, working capital loan, and overdraft facilities
- All non-farm enterprises, ie small or micro firms can avail of Mudra loan
- People belonging to SC/ST/Minorities can avail of Mudra loans at special interest rates.
PMMY Eligibility
Only those citizens who want to start their businesses can apply for Pradhan Mantri Mudra Loan Yojana.
The age of the applicant person should be more than 18 years to take a loan under Mudra Yojana.
According to this scheme, the applicant person should not be a defaulter from any bank.
Mudra Loan: Required Documents
- Duly filled the application form with the passport-size photograph
- KYC documents of applicant and co-applicants: Passport, Voter ID Card, Aadhaar Card, Driving License, PAN Card, Utility Bill (Water/Electricity Bill)
- If the applicant belongs to any special category i.e. SC/ST/OBC/Minority, proof of the same (if applicable)
- Last 6 months’ bank statement
- Proof of business location, address, and number of years in operation, if applicable
- Any other document required by the bank or NBFC
- Note: The Mudra loan application form to be submitted in the case of the Shishu loan scheme is different, while it is the same in the case of the Kishor and Tarun loan schemes.
| banks and institutions | Rate of interest | processing fee | Maximum loan amount | loan repayment tenure |
| State Bank Of India | Starting from 9.75% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Bank of Baroda | Starting from 8.15% + BSS | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Bajaj Finserv | 1% to 12% per annum | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Saraswat Bank | Starting from 11.65% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| flexi loan | Starting from 1% p.m. | As per the profile of the applicant | up to Rs.10 lakh | 7 years |
| UCO Bank | Starting from 8.85% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Union Bank of India | Starting from 7.60% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Punjab National Bank | Starting from 9.60% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| PSB Loan in 59 Minutes | Starting from 8.50% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Lending-Kart Finance | up to 1% per month | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
List of Businesses covered under Mudra Yojana
The list of businesses covered under the Mudra Yojana is given below:
- Commercial vehicles: Mudra finance for machinery and equipment can be used to purchase commercial transport vehicles such as tractors, auto-rickshaws, taxis, trolleys, tillers, goods transport vehicles, 3-wheelers, and e-rickshaws.
- Service Sector Activities: Starting businesses of salons, gyms, tailoring shops, medical shops, repair shops, dry cleaning, photocopying shops, etc.
- Food and Textile Products Sector Activities: Various activities involved in the related sector, such as making papads, pickles, ice creams, biscuits, jams, jellies, and sweets, as well as for the preservation of agricultural products at the village level
- Business activities for traders and shopkeepers: setting up shops and service enterprises, trading and business activities, and non-farm activities that generate income
- Equipment Finance Scheme for Micro Units: Maximum Rs.10 Lakh. loan up to
- Activities were related to agriculture: Agri-clinics and agri-business centers, food and agro-processing units, poultry, pisciculture, bee-keeping, pruning, livestock-rearing, grading, agro-industries, dairy, fisheries, etc. related activities.
- Banks/NBFCs offer Mudra loans only to individuals, enterprises, or businesses engaged in the services, trading, or manufacturing sector.