Mudra loan is extended for a variety of purposes which provides income generation and employment creation in Manufacturing, Services, Retail and Agri. Allied Activities.
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A MUDRA Loan Yojna is being provided under the MUDRA Yojna to the non-corporate and non-farming small and micro enterprises/ businesses. Loans upto INR 10 Lacs can be availed under the MUDRA scheme. Micro Units Development and Refinance Agency Limited (MUDRA) is an NBFC supporting the development of small business owners in India.
The MUDRA Loan Yojna are to be provided for income generating small business activities across manufacturing, processing, services or trading sectors and would cover all Individuals/ Proprietary Concerns/ Partnership Firms/ Government Limited Companies/ Entities of any other legal forms running as shopkeepers, artisans, self-help groups, manufacturing units, hawkers, professionals, service providers, etc.
The Mudra Loan Yojna scheme offers 3 products to eligible entities, namely Shishu, Kishore, and Tarun.
Shishu loans allow entrepreneurs on the threshold of starting a business to borrow up to ₹50,000.
Ideal for expansion. Balance sheet, IT returns, bank statements for last 6 months required.
For mature businesses. Additional docs: address proof, identity proof, caste certificate (if applicable).
Provide GSTIN for business verification
Upload PDF format bank statement
Basic, personal, educational & ownership details
From preferred bank instantly
Several public and private sector banks offer MUDRA loans. Top lenders and their offerings:
| Bank | Interest Rate (p.a.) | Tenure |
|---|---|---|
| State Bank of India | 11.25% onwards | Up to 5 years |
| Syndicate Bank | 8.60% – 9.85% | Based on bank's terms |
| Bank of India | 10.70% onwards | 36 – 84 months |
| Andhra Bank | 8.40% – 10.35% | 36 months onwards |
*Rates subject to change as per RBI guidelines.
| Type of loan | Documentation |
|---|---|
| Vehicle Loans | Mudra application form, Loan application form, Income proof, 2 passport-size colour photographs, Photo Identity proof, Address proof, Bank statement for the last 6 months |
| Business Instalment Loan | Mudra application form, Address proof, 2 years’ ITR, CA certified financials, Photo identity proof, Bank statement for last 6 months, Qualification proof, Establishment proof. |
| Business Loans Group / Rural Credit | Mudra application form, ITR for last 2 years, Photo ID & age proof, Address proof, Bank statement (12 months), Business vintage proof, Ownership proof. |
Medical shops, boutiques, saloons, gyms, dry cleaning, beauty parlours, motorcycle repair, tailoring, courier, DTP.
Auto rickshaws, three-wheelers, passenger cars, e-rickshaws, taxis, goods vehicles.
Achaar making, papad, jam/jelly, catering, cold storages, ice cream, bun & bread making, cold chain.
Financing for shops, service enterprises, trading activities, non-farm income generation.
Powerloom, handloom, chikan/zardozi, khadi, printing, knitting, embroidery.
Bee keeping, pisciculture, livestock, sorting, agriclinics, fishery.
