PM Mudra Yojana

What’s in store for you?

PM Mudra Yojana

Types of PM Mudra Yojana

  • Shishu: loans up to ₹50,000
  • Kishor: loans between ₹50,000 and ₹5 lakh
  • Tarun: loans between ₹5 lakh and ₹10 lakh

Interest rate for PM Mudra Yojana

19 % - 21 %

(Fixed Rate)

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Wondering if you're eligible?

Non-Farm Enterprises

  • Available for non-farm enterprises in manufacturing, trading, and services.
  • Credit needs must be below ₹10 lakhs for eligibility.
  • Loans based on the growth stage and funding needs of the unit.
  • Tailored loan based on the entrepreneur’s requirements.
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Documents to get you started

Identity proof

  • Copy of Aadhaar Card
  • Valid Passport
  • Voters ID card
  • Driving Licence
  • PAN Card

Address proof

  • Copy of Aadhaar Card
  • Valid Passport
  • Voters ID Card
  • Driving Licence

Proof of income

  • Latest ITR
  • Last 6 months' bank statement
  • Loan application form
  • Ownership proof of residence/office
  • Proof of continuity of business
  • Trade references

Know more about this Scheme

Objectives

  • Setting policy guidelines to finance small and micro enterprises.
  • Regulating and registering Microfinance Institutions and related bodies.
  • Helping small businesses expand and progress.
  • Assisting low-income groups to build and grow their businesses.
  • Offering lending preference to SC/ST individuals.
  • Providing easy finance access for the unbanked while lowering costs.
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Purpose

  • Mudra Loan is available for the purchase of a transport/ commercial vehicle.
  • Help in financing Plant and machinery.
  • Funding for agri-allied non-farm activities that can help in income generation 
  • Infusing funds for working capital
  • Business loans for shopkeepers and traders
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More about PM Mudra Yojana

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Honourable Prime Minister on April 8, 2015, to provide loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises.

Within the framework and overall objective of developing and growing the micro-enterprises sector, MUDRA Loans are designed to meet the requirements of different sectors​​/business activities and business/entrepreneur segments

The benefits of the Pradhan Mantri Loan Yojana include easy access to credit for microenterprises, especially those in the non-farm sector. It promotes entrepreneurship, boosts employment opportunities, and facilitates the growth of small businesses, contributing to economic development.

To apply for the Pradhan Mantri Mudra Yojana, individuals can visit the scheme's official website or approach any of the participating financial institutions, including HDFC Bank. They must fill out the application form, provide necessary documents, and meet the eligibility criteria set by the lending institution or government guidelines.

The HDFC Bank Pradhan Mantri Mudra Yojana (PMMY) offers micro and small enterprises financial support. It provides loans up to ₹10 lakh without collateral, ​categorised into Shishu (up to ₹50,000), ​​Kishore (₹50,001 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh). The scheme promotes entrepreneurship by offering affordable credit, simplified application processes, and flexible repayment options. It targets non-corporate, non-farm small/micro-enterprises to help them start, sustain, or expand their businesses, thus fostering financial inclusion and generating employment opportunities.

Frequently Asked Questions

Pradhan Mantri Mudra Yojana (PMMY) is a government initiative in India to support microenterprises in the non-farm sector financially. It offers loans through various financial institutions to individuals and small businesses to help them start, expand, or diversify their activities.

Under the Mudra Loan, the product offerings include Shishu, Kishore, and Tarun ​Loans. Shishu Loans are for amounts up to ₹50,000, ​​Kishore Loans range between ₹50,000 and ₹5 lakh, and Tarun Loans range between ₹5 lakh and ₹10 lakh.

The repayment period for PM Mudra Loan varies depending on the type of loan and the terms agreed upon with the lending institution. Typically, it ranges from one to five years.

To apply for a Mudra Loan for a business, individuals can approach any participating financial institutions, such as banks, NBFCs, and MFIs. They need to submit their business plan, KYC documents, and other required paperwork per the lending institution's guidelines.