PM MUDRA Yojana

Up to ₹10 Lakh loan without collateral for small businesses

₹10L

Max Loan

15–25 days

Timeline

Overview

Pradhan Mantri MUDRA Yojana (PMMY) is a flagship scheme launched by the Government of India to provide loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises. The scheme has three categories: Shishu (up to ₹50,000), Kishore (₹50,001 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh).

Eligibility Criteria

Any Indian citizen with a business plan for non-farm income generating activity

Business should be a non-corporate small business segment

Manufacturing, trading, and service sector enterprises

Allied agricultural activities are also eligible

No collateral required for loans up to ₹10 lakh

Key Benefits

Collateral-free loans up to ₹10 lakh

Lower interest rates compared to market rates

Flexible repayment tenure up to 5 years

No processing fee in many banks

MUDRA Card for working capital needs

Required Documents

Identity Proof (Aadhaar, PAN, Voter ID)

Address Proof (Utility bills, Aadhaar)

Business proof and registration documents

Bank statements for last 6 months

Passport size photographs

Business plan or project report

Application Process

Step 1

Check eligibility and prepare business plan

Step 2

Choose the right MUDRA category (Shishu/Kishore/Tarun)

Step 3

Submit application with required documents

Step 4

Bank verification and field visit

Step 5

Loan sanction and disbursement

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