The PM MUDRA Yojana is a government-backed scheme launched in April 2015, offering collateral-free loans up to ₹10 lakh to non-corporate, non-farm micro and small enterprises—categorized as:
- Shishu: Up to ₹50,000
- Kishore: ₹50,001 to ₹5 lakh
- Tarun: ₹5,00,001 to ₹10 lakh (HDFC Bank, Axis Bank)
🏦 Where to Apply Online
1. Udyamimitra Portal
- The official government-backed portal for MUDRA loan applications.
- Visit udyamimitra.in, register/login, and complete the online application process. There are no middlemen or agents involved. (mudra.org.in)
2. Participating Banks and NBFCs
- You can also apply online through the websites of banks and NBFCs like SBI, Axis Bank, Bank of Baroda, HDFC, Bank of India, etc. These institutions support full digital submission of applications and documents. (Axis Bank, Bank of Baroda, BOI, SBI)
📝 How to Apply – Step-by-Step
- Choose the right lender: Public/private bank or NBFC that supports online MUDRA loan processing. (kissht.com)
- Register/Log in on lender’s site or the Udyamimitra portal.
- Fill out the application form (online).
- Upload required documents:
- Identity (Aadhaar, PAN, Voter ID)
- Address proof
- Business proof or registration (if applicable)
- Bank statements, business plan/project report
- Passport-size photos, income proof (mudra.org.in, kissht.com)
- Submit and track: The lender reviews and may contact you for verification.
- Receive loan offer: If approved, funds are disbursed directly to your account.
📋 Eligibility & Key Points
- Who can apply?
Indian citizens with micro or small non-farm enterprises (e.g. merchants, artisans, vendors). Both startup and existing businesses are eligible. (kissht.com) - Collateral requirement
Loans up to ₹10 lakh are collateral-free. (Axis Bank, SBI) - Rates & repayment (as of mid-2025)
SBI lists interest rates starting ~12.15% p.a. (EBLR + 3.25%) with repayment terms up to 5–7 years depending on loan size. (SBI) - Guarantee scheme
Loans under PMMY are covered under the Credit Guarantee Fund for Micro Units (CGFMU). (SBI)
📊 Quick Comparison
| Platform | Features |
|---|---|
| Udyamimitra portal | Central government portal, no intermediaries |
| Bank/NBFC websites | Branded interfaces (SBI, Axis, HDFC, etc.) |
| PSB Loans in 59 Minutes | Fast digital approvals via partner banks (mudra.org.in, kissht.com, psbloansin59minutes.com) |
🧾 Before You Apply
- Check your credit score (not mandatory, but can speed up lending decisions).
- Prepare your business plan/report and financial documents in advance.
- Review specific lender requirements—some may have additional paperwork or margins for amounts above ₹50,000. (kissht.com)
🚀 Quick Recap
- Go to udyamimitra.in or choose a supported bank/NBFC website.
- Register, apply online by providing basic info and documents.
- Select your MUDRA loan category (Shishu / Kishore / Tarun).
- Track & submit additional info if requested.
- Receive disbursal once approved—usually within days or weeks.
Need help with?
- Choosing the best lender for your area
- Estimating EMI costs
- Understanding interest rates further
Just let me know—happy to assist!
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