Designed to support small businesses and entrepreneurs, MUDRA Loans offer financial assistance under the Pradhan Mantri MUDRA Yojana (PMMY). Applying for a MUDRA Loan is a simple process. This can be done through both online and offline modes.
Below we have provided simple steps to apply for a MUDRA loan online:
Visit the official website of the PMMY- https://www.mudra.org.in/Home/PMMYBankersKit
Download the form of the loan (Shishu, Tarun, or Kishore) you require and enter personal and business details like your name, date of birth, residential/business address, and educational qualifications, etc., in the MUDRA loan application form
Then, submit the application form. Ensure you have the required documents while submitting it to the bank or the lending institution.
Once the MUDRA loan application form and attached documents are processed and verified, the loan shall be approved and disbursed into your bank account
If you face any problem at the time of availing a MUDRA loan through online mode, you can go with the offline method.
Mentioned below are the steps by which you can apply for a MUDRA Loan offline:
Visit a PMMY-authorised financial institution or NBFC
Make sure that you have a documented business plan
Fill out the MUDRA loan application form with the necessary details
Submit the application form enclosed with the necessary documents and with passport size photographs
After the verification of all the documents, the loan request will be approved and loan amount will be remitted to your bank account
Frequently Asked Questions
How can I check my MUDRA loan status?
You can visit the website of the lender to check the MUDRA loan status.You can also visit the lender’s branch to know more about the status.
