Prime Minister Mudra Lone Scheme (PM Mudra Loan Yojana) There is a major scheme of the Government of India, which aims to provide financial assistance to small businessmen, self -employment and new businessmen. Government under this scheme 50,000 to Rs 10 lakh The loan is given without any guarantee. Its main objective is to promote self -employment in the country and reduce unemployment.
In today’s time, many youth and women want to start their own business, but due to lack of capital, they are unable to realize their dreams. In such a situation, the PM Mudra Loan Scheme is a golden opportunity for him. Under this scheme, you have to submit some important documents to take a loan and the bank or Online application Have to do it. The application process is simple and the loan is approved quickly.
If you also want to start your own business or increase existing business, then the PM Mudra Loan Scheme can prove beneficial for you. Let’s know in detail about this scheme.
PM currency loan scheme latest update
Pradhan Mantri Mantri Mudra Yojana – PMMY was launched by the Central Government on 8 April 2015. Its purpose is to provide loans to small traders, self -employers and small entrepreneurs without guarantee, so that they can start their business or move forward. Loans are given in 3 categories under this scheme: Shishu, Kishore and Tarun.
- Baby loan: Up to Rs 50,000
- Teen Loan: 50,001 to 5 lakh rupees
- Tarun Lone: 5 lakh to 10 lakh rupees
This loan is given for non-corporate and non-agricultural business. In this, any Indian citizen of 18 to 65 years can apply, provided they do not have a bank default history and have a business plan.
PM Mudra Loan Scheme
| Speciality | Description |
|---|---|
| Name of the scheme | Pradhan Mantri Mudra Loan Scheme (PMMY) |
| beginning | 8 April 2015 |
| Starting | Government of India |
| Beneficiary | Small businessmen, self -employment, startup |
| Loan amount | 50,000 to 10 lakh rupees |
| Loan category | Baby, Teen, Tarun |
| Guarantee | No (collectraral free) |
| Interest rate | 9% to 12% (as per bank) |
| Application process | online offline |
| Eligibility age | 18 to 65 years |
| Loan period | Maximum 5 years |
| Processing fees | No |
| Where to apply | Bank/online portal |
Benefits of PM Mudra Loan Scheme
- Loan without guarantee: No guarantee or collateral is required to take a loan under this scheme.
- low interest rates: The interest rate in different banks ranges from 9% to 12%.
- Simple application process: Applications can be made through both online and offline mediums.
- No processing fees: No processing fees are charged on taking a loan.
- Three categories of loan: According to the need for business, loans are available in the baby, juvenile and Tarun category.
- Priority to women and youth: Women entrepreneurs and youth are given priority.
- Employment generation: Self -employment and small industries are promoted, which creates new employment opportunities.
Eligibility of scheme
- The applicant should be an Indian citizen.
- Age should be between 18 and 65 years.
- Business should be in non-corporate and non-agricultural sector.
- The applicant should not have a bank default history.
- Business plans and loans should have the ability to repay.
- Startups, small traders, shopkeepers, women entrepreneurs, MSME, self -employment etc. can apply.
Documents required for the scheme
- Identity Card: Aadhar Card, PAN Card, Voter ID, Passport etc.
- Address proof: Electricity bill, ration card, rent agreement etc.
- Business Proof: GST registration, business license, shop registration etc.
- Bank Statement: Last 6 months bank statement.
- Passport Size Photo.
- Business Plan.
- Other documents (according to bank or financial institution).
Types of PM Mudra Loan Scheme
| Category | Loan amount | Suitable for |
|---|---|---|
| Infant | Up to Rs 50,000 | New business starts |
| Teenager | 50,001 to 5 lakhs | To increase business |
| Youth | From 5 lakh to 10 lakhs | For business expansion |
- Baby loan: To start business at a small level.
- Teen Loan: To take the business to the next level.
- Tarun Lone: For a large scale business expansion.
How to apply in the scheme?
- Offline application: Go to the nearest bank branch and fill the application form and submit the necessary documents.
- Online application: Go to the official website of Mudra Yojana and fill the online application form.
- Processing: The bank will check your documents and business plans.
- Loan acceptance: If all the documents are found correct, the loan will be approved and the amount will come to your account.
Main steps of application process
- Select a bank or finance company.
- Download or take the application form from the bank.
- Attach all the necessary documents.
- Submit the form and documents to the bank.
- Loan acceptance after verification by the bank.
Which business gets loan under the scheme?
- Small shopkeepers, grocery store, general store
- Food Processing Unit, Dairy, Poultry
- Mobile repairing, beauty parlor, salon
- Transport, Auto Rickshaw, Taxi Service
- Boutiques, sewing, embroidery, handicrafts
- Service sector, trading, manufacturing units
- Other small and medium level business.
Interest rate and repayment of PM Mudra Loan Scheme
- Interest Rate: 9% to 12% (as per bank).
- Loan period: maximum 5 years.
- Repayment: In monthly/quarterly installments.
- Processing fees: No.
- No guarantee or collateral.
The success story of the beneficiaries of PM Mudra Lone Scheme
Millions of people across the country have started their business by taking advantage of the PM Mudra Loan Scheme. Small shopkeepers, women, youth and self -employment people have become self -sufficient with this scheme. This has not only increased their income, but also provided employment to others.
Important questions related to the scheme (FAQs)
Q1. Does any guarantee for a currency loan have to be given?
No, the Mudra loan is completely collator free.
Q2. In what time does the loan be found?
The loan is usually approved in 7-15 days when all the documents are correct.
Q3. Can students also apply?
If they have a business plan and are above 18 years, they can apply.
Q4. Can women also apply?
Yes, women are given priority.
Q5. What will happen if there is a problem in repaying the loan?
If not paid the installment on time, the bank can impose penalty and the CIBIL score may also be affected.
What is new in PM Mudra Loan Scheme 2025?
In 2025, the government has increased the limit of Mudra loan. Now there is a possibility of getting loans ranging from 10 lakh to 20 lakh rupees in Tarun category, which will also benefit the businessmen on a large scale. The application process has been made easier and digital, so that people from both rural and urban areas can easily apply.
Disclaimer: PM Mudra Loan Yojana is a real and government scheme that aims to promote small businessmen and self -employment. The scheme has been running since 2015 and millions of people have taken advantage of it. However, take care while applying, apply only on authorized banks or currency portals. Avoid any broker or fake website. There may be changes in the scheme from time to time, so check the latest information before the application.
