Pradhan Mantri Mudra Yojana (PMMY) Scheme (Apply Online for PM Mudra Loan)

Pradhan Mantri Mudra Yojana 2020: PM Mudra Loan is an initiative by the Prime Minister Shri Narendra Modi. This scheme was introduced on the 8th day of April 2015. The word MUDRA referred to as Micro Units Development and Refinance Agency.

People who have an idea of starting a business in the non-farm sector can get a loan amount of up to Rs. 10 lakh through this scheme.

PM Mudra Loan Apply Online

PM Mudra Loan can be taken at Private & Public Sector Banks, Rural Banks, Cooperative Banks, etc.,

The List of Documents Required, Eligibility Criteria, Rate of Interest (ROI), Application Process, Bank wise Guidelines have been provided in the below section.

Keep Reading…

Pradhan Mantri Mudra Yojana (PM Mudra Loan) – Apply Online

This scheme is divided into three categories

  1. Shishu
  2. Kishor
  3. Tarun


The scheme SHISHU is for those who are seeking the loan amount below Rs. 50,000/-


The loan amount provided under this scheme is above Rs. 50,000/- and below 5 Lakh.


The loan amount between 5 to 10 lakh comes under this scheme. The eligibility criteria and the list of required documents are provided below.

Eligible Sectors:

1. Land Transport Sector:

People who are willing to purchase vehicles for the purpose of transporting goods and personal transport can apply for this scheme.

Following are the eligible vehicles

2. Service Sector Shops:

This scheme is applicable to those who are willing to set up a small social service sector firms like

  • Medical Shops
  • Xerox Centers
  • Bike Mechanic Shop
  • Tailoring & Dry cleaning center
  • Courier Agency
  • Saloon
  • Beauty Parlour
  • Gym center etc.,

3. Food Product Sector:

There are many people who are willing to do food products business in their community. They can apply for the PMMY scheme. The following are some food product businesses that come under this scheme.

  • Icecream Making
  • Biscuit Making
  • Papad Making
  • Sweet Shops
  • Chutneys
  • Food stalls
  • Cold storage units
  • Canteen
  • Catering
  • Ice making etc.,

4. Textile Products Sector:

Following are the textile businesses that come under PMMY scheme

  • Handloom
  • Embroidery Works
  • Handworks
  • Dyeing
  • Cotton Ginning
  • Zardozi works
  • Chikan Work etc.,

PM Mudra Yojana Eligibility Criteria

  • Applicant must be a citizen of India
  • The business should come under the non-farm sector
  • Loan amount should not exceed 10 lakh rupees

The above are the basic eligibility details, meanwhile, the applicants are required to produce the necessary documents listed below.

Required Documents

The following are the essential documents required to apply for the PM Mudra Loan.

  • Photo ID Proof (Aadhar, Passport, Driver’s License, etc.,)
  • Residential Proof (Current Bill, Rental Agreement, etc.,)
  • Passport Size Photographs (2 no.s)
  • Machinery/Items Purchase Quote
  • Details of Machinery/Items Supplier
  • Details of the Machinery
  • Price and the list of Machinery/ Items to be Purchased
  • Registration copy of the Business
  • All the documents related to the business (Address Proof, Ownership, Certificates, etc.,)
  • Community/Caste Certificate

Where to get the Loan?

Interested candidates can visit any of the local banks that come under the following sectors

  • Public Sector Banks
  • Rural Banks
  • Cooperative Banks
  • Private Sector Banks
  • Micro Finance Institutions
  • Foreign Banks
  • Non-Banking Finance Institutions

How to Apply for Mudra Loan at Bank?

Step 1: Download the Application Form of Mudra Loan

Step 2: Visit the nearest bank that comes under the above-mentioned sectors.

Step 3: Consult the bank executive and explain about your business

Step 4: Produce the necessary documents listed in the above section along with the filled application form

Step 5: You will get notified from the bank after the loan approval

Note: There will be no processing fee for the application of Mudra Loans

How to Apply Online for Mudra Loan?

You can also submit your application online through the Govt. portal

Following is the procedure to apply for PM Mudra Loan through online mode.

  • Visit website
  • Scroll down to the bottom of the page, you will find the tab “MUDRA LOANS“, click on it
  • A new page will be opened up, read all the instructions and at the bottom of the page, you will find the link “Click Here to Apply“, click on it.
  • You will be taken to the Mudra Loan Registration Page
  • The registration process is carried out in 4 stages
    • Basic Details
    • Choose Hand Holding Support
    • Fill Application Form
    • Apply to Preferred Lender
  • Enter the loan amount and fill out all the details
  • Upload the necessary documents and submit the application
  • Your application will be sent to the preferred lender
  • The executive of that particular Financial Institution will get back to you

PM Mudra Loan at Banks

There are many public and private sector banks providing mudra loans. There is a little variation between bank to bank in terms of required documents, interest rates, and terms.

Below, we have provided the important points and required documents according to the bank.

PM Mudra Loan at SBI

The following are some important points & guidelines at SBI in addition to the guidelines provided by the government.

Margin (%):

  • Loan amount < Rs. 50,000/- = Margin % is nil
  • Loan amount between Rs. 50,000/- and 10 lakh = Margin is 10%

Repayment Period:

The repayment period at SBI is 3 to 5 years including the moratorium period

Processing Fee:

  • No processing fee charged for Shishu & Kishore Loans
  • The processing fee of 0.50% + Taxes will be collected in the case of Tarun Loans

PM Mudra Loan at ICICI Bank

Required Documents for Mudra Loan at ICICI Bank:

For Vehicle Loans:

  • MUDRA Loan Application form
  • Vehicle loan application form
  • Passport Size Photographs (2 no.s)
  • ID Proof
  • Address Proof
  • Last 6 months Bank Statement
  • Proof of Income

Business Installment Loan:

  • Mudra Loan Application Form
  • Business Installment Loan Application Form
  • ID & Address Proof
  • last 6 months Bank Statement
  • Company Registration Documents
  • Qualification Proof
  • IT Returns (Last 2 Years)
  • CA Certified Financials

PM Mudra Loan at HDFC Bank

Required Documents:

  • Mudra Loan Application Form
  • Photo Identity Proof
  • Proof of Current Address
  • Latest IT Returns
  • Bank Statement (Past 6 Months)
  • Proof of Ownership
  • Proof of Continuity of Business
  • Trade References

PM Mudra Loan Statistics (2015 to 2020)

Mudra Loan Statistics of the Financial Year 2015-2016:

Financial Year 2015-2016
No. of Loans Sanctioned 3,48,80,924
Amount sanctioned Rs. 1,37,449.27 Crore
Amount Released Rs. 1,32,954.73 Crore

Mudra Loan Statistics of the Financial Year 2016-2017:

Financial Year 2016-2017
No. of Loans Sanctioned 3,97,01,047
Amount sanctioned Rs. 1,80,528.54 Crore
Amount Released Rs. 1,75,312.13 Crore

Mudra Loan Statistics of the Financial Year 2017-2018:

Financial Year 2017-2018
No. of Loans Sanctioned 4,81,30,593
Amount sanctioned Rs. 2,53,677.10 Crore
Amount Released Rs. 2,46,437.40 Crore

Mudra Loan Statistics of the Financial Year 2018-2019:

Financial Year 2018-2019
No. of Loans Sanctioned 5,98,70,318
Amount sanctioned Rs. 3,21,722.79 Crore
Amount Released Rs. 3,11,811.38 Crore

Mudra Loan Statistics of the Financial Year 2019-2020:

Financial Year 2019-2020
No. of Loans Sanctioned 5,83,65,823
Amount sanctioned Rs. 3,23,573.88 Crore
Amount Released Rs. 3,16,099.38 Crore

FAQs on PM Mudra Loans

Q1: What is the maximum loan amount I can get from PM Mudra Loan?

Ans: You can get a maximum of Rs. 10,00,000/- through mudra loan.

Q2: Can I apply online for PM Mudra Loan?

Ans: Yes, applications are also accepted through online mode at

Q3: What are the processing charges for PM Mudra Loans?

Ans: No processing charges are collected for Mudra Loans. Few banks are charging minimal charges as a processing fee.

Q4: Can I take a Mudra loan for farming?

Ans: No, Mudra Loans are not provided for the farming sector.

Q5: How many types of Schemes are there under PM Mudra Yojana?

Ans: There are 3 categories, Shishu, Kishore & Tarun.

Q6: What is the minimum loan limit for Mudra Yojana?

Ans: There is no minimum amount and the maximum amount is Rs. 10 lakh.

Q7: What is the repayment period for Mudra Loans?

Ans: the repayment period for Mudra Loans is 3 to 5 years including the moratorium period.

Q8: What is the full form of MUDRA?

Ans: MUDRA stands for “Micro Units Development & Refinance Agency

Q9: What is the maximum loan amount I can get from Shishu Category?

Ans: The loan amount below Rs. 50,000/- comes under Shishu Category.

Q10: What is the processing time for PM MUDRA Loan?

Ans: If you are done with the proper documentation, it will generally take 24 to 48 hours.

Q11: Can I take the Mudra loan for my existing business?

Ans: Yes, Mudra loans are for both existing and new businesses.

Q12: What are the processing charges for Mudra Loan under Tarun Category?

Ans: The processing fee for Shishu and Kishore is Nil. In the case of Tarun few banks are charging 0.5% + Taxes towards the processing fee.

Q13: What is the rate of interest (ROI) for Mudra Loans?

Ans: The rate of interest depends on the individual bank. Generally, it ranges from 9.60% to 14% per annum.

Q14: What is the age limit required to apply for the Mudra Loan?

Ans: The minimum age limit to apply for Mudra Loan is 24 Years and the applicant must not cross the age of 60 Years (for salaried) and 65 Years (for Self-Employed)

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