Mudra Loan 2022: Types of Pradhan Mantri Mudra Loan Scheme, Interest Rates and Rules

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Micro Units Development and Refinance Agency (MUDRA) Loan Scheme under Pradhan Mantri Mudra Yojana (PMMY) is an initiative of the Government of India that provides loans to individuals, SMEs and MSMEs. There are 3 loan schemes offered under MUDRA loan scheme namely Shishu, Kishor and Tarun. The maximum loan amount given under Mudra Loan Scheme is Rs 10 lakh. While the minimum loan amount is not fixed. The applicant does not need to give any guarantee or pledge to banks or lending institutions to avail Mudra loan. The repayment of this loan can be from 3 years to 5 years.

Mudra Loan Types

Based on the size and growth of the business as well as the requirement of funds, Mudra loans are divided into three types:

Shishu Loan:

Under this, loans are given to those people who are starting their business and looking for financial help. Under this, a maximum of Rs. loan is given. It has an interest rate of 10% to 12% p.a. with a repayment tenure of 5 years.

Kishor Loan:

This loan is for those whose business is already started but not yet established. The loan amount given under this is Rs.50,000. 5 lakh to Rs. takes place between The rate of interest varies depending on the lending institution. Along with the business plan, the credit record of the applicant also plays an important role in deciding the interest rate. The loan repayment tenure is decided by the bank.

Tarun Loan:

This is for those people whose business has been established and need money for expansion and purchase of property, in this the loan amount is Rs.5 lakh. 10 lakh to Rs. is in between. The interest rate and repayment tenure are based on the plan and the credit record of the applicant.

Features of Mudra Loan

Benefits of Mudra Loan

• Mudra loans can be availed mainly by people working in manufacturing, trading and service sectors to shopkeepers, traders, vendors, and MSMEs.

• Mudra Yojana comes under the credit guarantee schemes of the Government of India.

• The loan amount can also be used for term loan and overdraft service.

• All non-farm businesses, i.e. small businesses engaged in income generating activities can avail Mudra Loan.

• The benefit of Mudra scheme can be availed through Mudra card.

Purpose of Pradhan Mantri Mudra Yojana

Mudra Yojana can be availed for the following activities:

Commercial Vehicles: For purchase of commercial vehicles like tractors, auto-rickshaws, taxis, trolleys, tillers, goods transport vehicles, 3-wheelers, e-rickshaws, etc.

Service Sector Activities : Starting Business of Salons, Gyms, Tailoring Shops, Medicine Shops, Repair Shops and Dry Cleaning & Photocopy Shops etc.

Activities in the Food and Textile Manufacturing Sector: For various activities in the respective sector.

Business activities for traders and shopkeepers: For setting up of shops, service enterprises, trade and business activities and non-farm income generating activities.

Equipment Finance Scheme for Small Businesses: Maximum up to Rs.10 lakh. until.

Agri-allied activities: agri-clinics and agribusiness centres, food and agro-processing units, activities related to occupations such as poultry, fish farming, beekeeping, sorting, livestock-rearing, grading, agro-industry, diary, fisheries, etc. For.

MUDRA loan lenders in the year 2022

Mudra Loan: Required Documents

• Application Form

• Passport size photographs of the applicant and co-applicant, if applicable

• KYC documents of applicant and co-applicants

• Proof of Identity (Aadhaar Card / Voter ID / Passport / Driving License, etc.)

• Proof of Residence (Aadhaar Card / Voter ID Card / Passport / Telephone Bill / Bank Details, etc.)

• Income proof, such as ITR, sales tax return, license, registration, etc.

• Proof of a particular category, such as SC, ST, OBC, minority, etc. (if applicable)

• Business address and tenure proof, if applicable

• Registration, license or certificate (if any)

How to fill the online application form for Mudra Loan?

Step 1: Download Mudra Loan Application Form.

Step 2: Fill the correct details in the loan application form.

Step 3: Visit any public or private bank that offers Mudra loan.

Step 4: Complete all bank procedures.

Step 5: After which the loan will be passed.

mudra loan customer care number

Following is the Mudra Loan Customer Care Number:

How will women get Mudra loan?

Women entrepreneurs are encouraged by the Mudra scheme under the government, PMMY. The Government of India has also asked banks, lending institutions and Micro Finance Institutions (MFIs) to provide loans to women entrepreneurs at low interest rates. Currently, loans from NBFCs and MFIs are offered to women entrepreneurs under the Mudra scheme at 25 basis point lower interest rates.

What is Mudra Card?

Mudra card is a debit card issued to loan applicants who apply for Mudra loan. When a loan applicant applies for a MUDRA loan, and if the loan is approved, his/her MUDRA loan account is opened and the card is issued along with it. The loan amount is credited to the Mudra account and loan applicants can withdraw the amount from their Mudra account using the Mudra card.

What is Shishu Mudra Loan, what are its benefits?

If you are thinking of starting your business or expanding your business, then you can take advantage of the government's Shishu Mudra Loan Scheme.

• Under the self-reliant India campaign, relief has also been given to the Shishu Mudra loan customers by the Government of India.

• Actually three types of people are given in the Pradhan Mantri Mudra Yojana. The first of these is the Shishu Mudra Loan Scheme.

• You can take a loan of up to Rs 50,000 under the Shishu Mudra Loan Scheme.

• If we talk about customers taking Mudra Shishu loan at this time, then 30 million people can take advantage of two percent discount in interest rate for 12 months.

• For this period, the central government will pay the interest of Rs 1500 crore for the people taking Shishu Mudra loan.

What is Shishu Mudra Loan Scheme?

Under the Shishu Mudra Loan Scheme, a person can take a loan of up to Rs 50,000 from the bank for small work like opening a shop, doing business on street vendors. With this he can do his business. 

Who can take Shishu Mudra Loan?

The purpose of the central government is to help small scale businessmen. Therefore, only small businessmen can get a loan under the Shishu Mudra Loan Scheme. There will be no help under this scheme for big business.

How to get Shishu Mudra Loan?

To avail the Shishu Mudra Yojana loan, you need your identity proof, address document, two photographs, and the quotation of the equipment or machinery that you want to buy to start your business. You will have to submit some such necessary documents. Then you can apply for the Shishu Mudra Loan in the bank.

Where to get Shishu Mudra Loan?

Shishu Mudra Loans are provided by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. Customers can visit these institutions to talk about the loan or apply for the loan online by visiting the portal https://www.udyamimitra.in/ . In Shishu Mudra Yojana, loan is easily available without any guarantee.

PM Mudra Yojana was launched by the central government on 8 April 2015 . The purpose of this scheme is to provide easy loan facility to the traders.

What are the documents required for Shishu Mudra Loan?

• passport size photo

• Aadhar card

• Address proof

• pan card

• business certificate

• Bank details as required

• age certificate

Interest rates on Shishu Mudra Loan?

There is no fixed interest rate for the Shishu Mudra Loan Scheme. Different banks charge different interest rates on Mudra loans. The interest rate is also decided based on the nature of the business and the risk involved. Generally, interest on Shishu Mudra loan ranges from 9-12 per cent per annum.

Under Shishu Mudra loan, small traders can start some business by taking a loan of 50 thousand rupees, there will be bumper earnings

Mudra Loan Business Ideas, 

Businesses that can start by taking a Mudra loan of 50 thousand rupees (Mudra Loan Business Idea)

Some business ideas are as follows, which can be started by getting a Mudra loan of 50 thousand rupees given by the government –

Food on Wheel:

You can start a food on wheel business with a Mudra loan of Rs 50,000 given by the government. It is a kind of moving restaurant. In which you have to supply food. For this, you can choose a place where there is more activity, such as outside the company, factory, school, college etc. In this business, instead of buying a new vehicle like mini truck etc., you can also use your old vehicle or rental vehicle. By getting a loan from the government, you can bear all the necessary expenses in the food on wheel business like cooking utensils, utensils, vehicles etc. With this you can earn an income of 5 to 10 thousand rupees per day.

Medical Shop:

You must have the required degree to open a drugstore. Only then you get a license to open this shop. If you get a license for a medical shop. So after this you can run this shop well with the loan you get from the government. Medicines are in demand all the time. That's why you also have profit in this business, so if you open it in front of a hospital or clinic of a reputed doctor, then you will get very good profit from it.

Beauty Parlor:

In today's era, different salons have opened for both men and women, and many people go here to get service. Due to which many such people who are doing this business, they are also earning a lot of profit in this business for the last few years. If you have to give the service provided in the beauty parlor to your customers. So this can be a very good option. Mudra loan from the government will help you in this. In this, the charge of providing all the products, equipment and services of your beauty parlor will be included.

Sweet Shop:

In our country, the custom of eating sweets after any auspicious work has been going on for a long time. People buy sweets on every occasion, whether it is a festival or someone's wedding party etc. Due to the high demand for sweets in our country, doing its business can become a very good source of income. Yes, if you know how to make different and delicious sweets. So by getting a loan from the government, you can buy all kinds of utensils, cans and other things used in the sweet shop. And you can open a small sweet shop of your own. If you open this shop in front of a temple or in a market area, then you will have more chances of profit. Therefore, with the help of the government, you can make a better business by opening a confectionery and sweet shop.

Photocopy Shop

In today's time people need to show their official documents at any place. For example, when they buy train or bus tickets, ID proof is required during that time. Apart from this, whether to open an account in a bank, get a license, or even in school and college, various documents are needed, in such a situation the demand for photocopy shop is very high. If a project report is to be made in college or school, then it is also necessary to get photocopies of your documents in it. If you buy a photocopy machine by taking a government-assisted Mudra loan, So you can open a small shop. In this, if you want, you can also keep a computer and printer for taking out some stationery items and printouts. However, it may cost you more, so you can start with a photocopying machine and increase it later. It would be better if you open this shop near the college or school or in the market.

People also ask

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Question:- How to apply for Mudra loan?

Answer:- The application form is available at mudra.org.in, you can download the form and fill all the required information. Different banks may have different application process for Mudra Loan. It is advisable to first apply in the bank in which you already have an account, there are more chances of getting the application accepted.

Question: Which banks give Mudra loan?

Answer:- Commercial banks in both private and public sectors are eligible to give Mudra loans. There are also some Regional Rural Banks (RRBs) which offer Mudra Loans. Since the interest rates and eligibility criteria vary slightly from bank to bank, you should get the necessary information from a few different banks before applying for a loan.

Question:- What is the repayment tenure of Mudra Loan?

Answer:- The repayment tenure of Mudra loan is maximum up to 5 years. 

Question:- How much amount is given under Mudra loan?

Answer:- Minimum loan amount under Mudra loan is Rs.50,000. and maximum Rs.10 lakhs. Is.

Question:- Do banks give different rate of interest for Mudra loan?

Answer:- Yes, there is slight difference in the interest rates, eligibility conditions and application process of different banks. However, the interest rates remain within the prescribed limits for Shishu, Kishor and Tarun Mudra loans by Mudra.

Question:- Is there any special Mudra loan scheme for women?

Answer:- Yes, United Mahila Uddhi Yojana is a part of Mudra Yojana. Under this, women engaged in the economic activities of production, construction or service sector can apply for the loan. This scheme is specially designed to empower and further encourage women entrepreneurs. Women having more than 50% ownership in the company can also apply for Mudra loan under this category.

Question:- Is there any reservation for Mudra loan?

Answer:- No, any small trader can apply for Mudra Loan. Anyone who is eligible for a Mudra loan can avail the loan. Hence, no reservation is applicable in Mudra loan.

Question:- How to get a loan of 50000?

Answer:- Eligibility for taking loan of 50000. 50000 Ka Loan lene ke liye Eligibility

• You must be an Indian citizen.

• Must have a monthly income source.

• Aadhar linked mobile number should be there.

• Should not be in CIBIL Negative (If you have taken any loan earlier then it should be paid on time).

• Must have internet banking with savings account.

CONCLUSION

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According to the report of the year 2019-20, loans worth Rs 323,573 crore have been approved to 5,83,65,823 people under PM Mudra Yojana. Out of this, loans worth Rs 316,099 crore have been disbursed to the people.

For more information about PM Mudra Yojana you can visit this website: http://www.mudra.org.in/

So these were some of the businesses to be started by taking Mudra loan of up to 50 thousand rupees given by the government, by which you can easily earn profit.