PMMY- Pradhan Mantri Mudra Yojana is a yojana or scheme simply called as Mudra loan started by the Honourable Prime Minister on 8th April 2015 to give loans up to Rs. 10 lakh to the non-company and non-farm micro/small enterprise.

If you want to start your own business, Mudra Loan is for you. Read on this post to know everything about Mudra Yojana.

How to avail the loan in the Mudra scheme?

– To provide to the financial needs of small to medium-sized businesses in India, the Government of India launched Pradhan Mantri Mudra Yojana i.e. PMMY in April 2015.

– Its main aim is to promote the contribution of women in Business Word and strengthen the business sector.

– If you want to start up a business or want to expand your existing business, you can get a business loan of up to 20 lakhs under Micro Units Development Refinance Agency i.e. Mudra Yojana.

Benefits of Mudra Scheme:

– This loan provides without any guarantee in the Mudra scheme.

– There will be no processing fees are charging in providing the loan.

– The repayment period of this loan can extend up to 5 years.

– Working Capital Loan provides by Mudra Card.

What is the Eligibility to get Mudra Loan?

Any citizen of India or firm who wants to start up any other type of business except farming or wants to pursue their own business, they can apply for Mudra Yojana.

Types of Mudra Yojana:

Under the Mudra Scheme, Mudra Loan divided into 3 parts keeping in mind the needs of different businesses: –

Shishu Loan: Loans up to Rs 50,000/ – under Shishu Loan.

Kishor Loan: Loans from Rs. 50,000 to up to Rs 5 lakh under Kishor Loan.

Tarun Loan: Loans above Rs 5 lakh to Rs 20 lakh issues under Tarun loan.

Under the Mudra Yojana, at least 60% of the loan given in the form of child loans.






What are the Interest Rates?

– There are no fixed interest rates under Mudra Loan. The interest rates may vary depending on the functioning of different banks and the business risk of the applicant.

– Generally, the Mudra Loan interest rate is around 12% per year. One important thing in this is that you will not get any subsidy by the government in the Mudra Scheme.

– If you have applied for subsidy in any other scheme like the Sukanya scheme in which the government provides a capital subsidy, then that subsidy can link to Mudra Loan.

How to apply for Mudra loan?

Now let’s talk about how you can apply in the Mudra scheme and what is the process of taking a Mudra Loan –

– Collect information and choose the right bank.

– There is no fixed process to apply for a loan under the Mudra scheme. However, you will have to contact your nearby banks with your plan and proper set of documents. Then complete all the information related to the loan process and interest rate will have to be collected.

To get a loan, you have to fill the application form and submit it.

Pradhan Mantri Mudra Yojana-PMMY-loan-application-form

List of Institutions and Banks Offering PMMY Loan:

Presently loans are being given by the following institutions under the Mudra scheme: –

– By 27 public banks

– By 31 regional rural banks

– 17 private banks

– 4 by cooperative banks

– 25 Non-Banking Financial Institutions

– By 36 microfinance institutions

Documents needed:

Generally, for Mudra Yojana, you need to submit the following set of documents along with the application form.

Those who want to get a loan under Pradhan Mantri Mudra Yojana (PMMY) must be wondering that what documents require.

  • ¬†First of all, to get the Prime Minister’s Mudra Loan, you need to provide a PAN card, Aadhaar Card, Driving License, Voter ID Card or Passport for identification.
  • To avail Pradhan Mantri Mudra Loan, you also need to provide Electricity Bill or landline phone bill for proof.
  • If the applicant of Prime Minister Mudra Loan is from Scheduled Caste, Tribe, or Backward Class, he will also have to give a certificate.
  • The person who obtains the Prime Minister’s Mudra Loan wants to open any business. License registration certificate or other documents related to that will require.
  • If the person wants to start a new business on a large scale or wants to expand the business, he has to submit all the reports related to that business.
  • Under the Pradhan Mantri Mudra Yojana, a person will also have to give details of sales and profit of the financial year. If a person is partnering with any company or any business, then he will also have to give that copy.
  • When a person applies, he has to give 2 photographs. If he is applying for the partnership firm, then 2 photos of the partner also require.
  • Depending on the loan amount, business nature, bank rules, etc., the number of documents may be less.
For example, if you are taking a loan up to 50 thousand rupees, then you may not need the Balance Sheet and Income Tax Return, etc. 
  • Proof of Address (Residence Proof) Recent landline phone bill, power bill, an assets tax receipt (not older than 2 months), ID card, Aadhar Card & Passport of Proprietor / Partners.
  • Proof of SC / ST / OBC / Minority.
  • Business Plan / Project Report.
  • The applicant should not be a defaulter in any bank.
  • Bank Account Statement (Last 6 months)
  • Address of the Business Enterprise Copy.
  • Last 2 years balance sheet (Applicable for all cases from Rs. 2 Lacs and above).
  • Predictable Balance Sheets for One Year (valid for all cases from Rs. 2 Lacs and above)

How to download PMMY Mudra Loan Application Form?

For Mudra Loan, you can get the application form from the bank or you can download it online:

Loan Processing:

– After submitting the application form with proper documents, the bank will check your documents.

– Along with this, to get completely satisfied, they can also ask for some more documents.

– This process may take a few days, depending on the functioning of different banks.

– After the loan processing is complete, the bank will provide you the check, which will deposit in the bank account of the applicant.

– Banks ensure that the loan amount is spent for your business or for the purpose for which the loan has been given.

– For this, they take many steps, such as: –
If the applicant has to buy any big machinery or equipment in his project, then payment should be made through check.

Who will not get Mudra Loan?

Many situations may arise when the bank rejects the loan application of the applicant. –

– If the applicant does not have a proper document.

– If the bank does not see any profit or better prospects on the Project Report.

– The applicant has already taken a business loan

– If the holder is not able to meet the necessary qualifications of the Mudra loan, etc.

How to get Mudra Card?

At the time of Mudra loan approval, Mudra card (in the form of Rupay Debit Card) is issued which is like a debit card. In this way, the businessman can spend up to 10% of his loan with Mudra card.

The purpose of Mudra Card is to meet the working capital needs of the businessman. So that the businessman can pay the daily expenses of his business through Mudra Card and reduce the interest expenses.

Mudra Loan Helpline Numbers – Register Your Complaints:

Complaint on not getting a loan under Mudra scheme

If you face any problem related to the Mudra Yojana, then you can contact the given website, mail and phone number –

Mudra Yojana Website

Mail –

Nationalized Helpline Numbers for Pradhan Mantri Mudra Yojana – Call to 1800 180 1111, 1800 11 0001

For more information, you can get all the information by visiting

With the Mudra Loan, you can easily take loans up to 10 lakh rupees for your business start-up. Also, you can expand your existing business. With Mudra Yojana, Prime Minister Narendra Modi wants to help all people to increase their employment.

We are sure, we have provided complete information in this post. We must say that Mudra Scheme is one of the best loan schemes offered by the Government. If you have any business idea in your mind and want to startup, you can apply for this loan to fulfill your dreams!