How To Get Pradhan Mantri Mudra Loan Yojana

Riya KapoorApril 8, 2022

4 minutes read

Table of Contents

The maximum loan amount given under Pradhan Mantri Mudra Loan Yojana is Rs.10 lakh, with an interest rate of 9% per annum. In this Mudra loan (Emmy), the amount is not fixed. The applicant does not need to give any guarantee or pledge to banks or loan institutions to take a Mudra loan. Under which you are given 3 years to 5 years to pay off this loan.

What is Pradhan Mantri Mudra Loan Yojana?

Under the Pradhan Mantri Mudra Loan Yojana (Pradhan Mantri Mudra Yojana), the Government of India has started the facility of Mudra Loan to help small businesses, which was started by the then Prime Minister Shri Narendra Modi on 8 April 2015 itself. The minor business applicant will help strengthen the economic condition and further their business. Through PMMY Loan (Pradhan Mantri Mudra Loan), the applicant can easily take a loan amount up to a maximum of Rs 10 lakh. Applicants who need a loan amount of more than Rs 10 lakh can take advantage of other types of business loans given by the applicant banks and financial companies.

Types of Pradhan Mantri Mudra Loan Yojana

Shishu Mudra Loan Scheme
Kishore Mudra Loan Scheme
Tarun Mudra Loan Scheme

What is Mudra Card?

Friends, if you do not have much information about the Mudra card, then let us tell you that the Mudra Card is a debit card given to those loan customers. Those who apply for Mudra Loan (Mudra Loan) When the Mudra loan is approved, an account of that applicant’s Mudra loan is opened. And at the same time, a Mudra card is also given. Mudra loan amount is deposited in the Mudra account itself, and loan applicants can easily withdraw money from their Mudra account using a Mudra card. This comes under the Pradhan Mantri Mudra Loan scheme only, and you can also apply online for this card.

What is the document required for Pradhan Mantri Mudra Loan Yojana?

Application Form
Passport size photograph of applicant and co-applicant, if applicable
KYC documents of both applicant and co-applicants
For Proof of Identity – Aadhar Card, Passport, Driving License, Voter ID Card
For Proof of Residence – Aadhar Card Voter ID Card Passport, Telephone Bill, Bank Statement
Income Proof – Bank Passbook
Certificate of a particular category, such as SC, ST, OBC, minority certificate if applicable
Proof of business address and tenure, if applicable, certificate of registration, license or

Eligibility of Pradhan Mantri Mudra Loan Yojana

Applicant should be a resident of India
Applicant should have a good CIBIL Score to take PMMY loan
Applicant should not be a defaulter of any bank
Age should not be less than 18 years and not more than 65 years
Complies with all the terms and conditions of PMMY
The applicant should have any source of income.

Pradhan Mantri Mudra Loan Yojana Portal Login

First of all, you have to go to the bank’s official website from which you are applying for Pradhan Mantri Mudra Loan.
After opening the website, the option of Mudra Loan will appear in front of you; click on it.
After that, in the top right corner of the home page, click on the ‘login’ option
Then applicants can quickly log in by entering their “username” and “password”.
After logging into the Mudra Loan Portal, you can apply for Mudra Loan online.

How to apply for Pradhan Mantri Mudra Loan Yojana?

To apply for Pradhan Mantri Mudra Loan, you have to go to the bank’s official website.
After that, Mudra Loan has to be selected.
Now Mudra loan application form will open in front of you. Filling your full name, your address and your bank information in that application form, you have to read all the information related to the Mudra loan in this application form.
In the next step, you have to choose your loan amount.
After selecting the loan amount, you have to upload all your KYC documents.
Later, you have to submit this application form.
From whichever bank you are applying to, that application form will go to that bank and if you follow all the bank’s rules. Then your Mudra loan application is approved.
After the Mudra loan is approved, the loan amount is transferred to your bank account.

How to check Mudra Loan Status?

If you want to check the Mudra Loan status of any bank, you go to the official website of that bank.
After opening the website, the option of loan status check will appear in front of you; click on it.
In the next step, the login portal will open in front of you, in which you have your customer ID. You have to log in by entering the phone number.
After logging in, you can straightforwardly check your loan status.

Names of banks covered under the Pradhan Mantri Mudra Loan Yojana

The maximum loan amount given under Pradhan Mantri Mudra Loan Yojana is Rs.10 lakh. Which has an interest rate of 9% per annum – this interest rate may increase further, depending on your CIBIL Score.