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MUDRA Loan Scheme under Pradhan Mantri Mudra Yojana (PMMY) is an initiative by the Govt. of India to offer credit facilities to individuals, business owners, self-employed professionals, and MSMEs with the help of Banks/NBFCs, etc. Under the PMMY scheme, business entities can avail collateral-free business loans up to Rs. 10 lakh with a repayment tenure of up to 5 years. The interest rates offered by financial institutions may differ from one bank to another. The processing fee charged by banks is Nil to nominal.
Find below links to download application forms along with some important information and guidelines regarding Mudra loan application form.
Download Application Form for Loan under Pradhan Mantri Mudra Yojana in PDF Format (PMMY)
| Shishu Loan Application Form |
| Common Loan Application form for Kishor and Tarun |
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Know how to fill Mudra Loan Application Form
The MUDRA loan application form for the Shishu category is separate, whereas for the Kishor and Tarun category the loan form is common.
To fill Mudra loan application form, applicants need to fill in the following details as requested in the loan form:
- Applicant’s name, address, date of birth, educational qualifications
- Father’s/Husband’s name
- Business address
- KYC documents of applicant, co-applicants and partners
- Constitution of Business: Individual, Joint, Proprietary, Partnership, or any other
- Line of business activity
- Annual Sales
- Details of Skill Certificate, if any
- Social Category: Religion
- Category: General, SC/ST/OBC, any other
- Details of existing account: A/C number and bank branch
After filling all the details, applicants need to attach all the documents to be submitted along with the application form. Further, applicants need to visit the nearest bank branch offering Mudra loan to submit the loan application form and proceed with loan formalities with the bank’s representative.
Current Mudra Loan Interest Rates
| Banks/NBFCs | Interest Rate (p.a.) |
| Ziploan | 8.00% onwards |
| PSB Loans in 59 minutes | 8.50% onwards |
| PNB | 8.80% onwards |
| Union Bank of India | 10.30% onwards |
| Saraswat Bank | 11.65% onwards |
| City Union Bank | 12.00% – 12.50% |
| Bajaj Finserv | 1% per month – 12.00% p.a. |
| Lendingkart Finance | 1% per month onwards |
| Flexiloans | 1% per month onwards |
| Fullerton India | 1% – 20.00% |
Note: Mudra Loan Interest Rates are updated as on May 2023.
Purpose of MUDRA Loan under PMMY
MUDRA loan scheme was launched by the Government of India to help individuals, self-employed professionals and MSMEs with the following purposes:
- To start a new business
- To meet working capital requirements
- To manage business cash flow
- For business expansion and modernization
- Buying new or pre-owned plant & machinery
- Buying raw materials & goods or enhancing inventory
- Hiring new staff or training existing employees
- To buy fleet, commercial vehicles and much more.
Must Read:Is there any subsidy on Mudra loan?
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Must Read: How to Apply for Murda Loan Online?
MUDRA Loan Application Form for ‘Shishu’ Loan Scheme
There is one exclusive ‘MUDRA Loan Application Form’ for ‘Shishu’ category available on the same website. This is much shorter than the general form since many sections do not apply at the inception of the business, a stage for which ‘Shishu’ loan is approved. ‘Shishu’ loan requires no processing fee and does not require any collateral. Repayment period could be extended up to 5 years.
Documents Required
A list of the required documentation is mentioned towards the end of the form. Applicants have to furnish the pertinent documents based on the type of loan and the type of business they are applying for. These include:
- Duly filled application form with passport-sized photographs
- Identity, Age, and Residence Proofs
- Proof of belonging to SC/ST/OBC category
- Address and Identity Proof of Business Enterprise
- Applicant’s and Business PAN card
- Bank Account Statement of past 6 months
- Balance sheet of the past 2 years along with Sale tax and/ or Income Tax return – This is applicable if the loan amount is over 2 lakh
- Any other document required by the lender
Under PMMY, MUDRA loans are offered through Private and Public Sector Banks, NBFCs, Small Financial Banks (SFBs), Cooperative Banks, etc. Mudra loan can be availed by individuals, startups, self-employed professionals, MSMEs, business owners, etc.