Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Mudra Bank Loan Features and Benefits

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11% - 16.49% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Mudra Bank Loan Features and Benefits is Rated as "Great!" by 77152 Users

    Fees & Charges

    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    Features & Benefits of MUDRA Bank Loan

    Micro Units Development and Refinance Agency Bank, also referred to as MUDRA Bank is an initiative by Prime Minister Narendra Modi that was launched on April 8, 2015. Conceptualized during the annual budget of 2015-2016, this scheme came into practice from April. Under this scheme, the development of small businesses and entrepreneurs were focused upon. Several exceptions were made in order to satisfy client requirements by reaching areas where general banks were unable to reach. Almost half the population of the nation lives in remote areas, where banking services such as savings accounts, credit cards, loans, and other such benefits are unheard of. The main motive of the MUDRA Bank was to provide service to people in these unreachable areas.

    Advantages and Objectives of MUDRA Bank

    As mentioned earlier, the main motive behind the inception of MUDRA Bank is to offer banking services to needy people in rural areas. Here are some benefits and objectives of the MUDRA Bank:

    • MUDRA Bank offers financial support to empower small businesses and first-time entrepreneurs.
    • Banking services are now available to people in the remote areas. Earlier, people would take loans from money lenders and charged very high interest rates. Thanks to MUDRA bank, people can now avail loans for their business at nominal rates of interest.
    • The MUDRA Bank system offers maximum benefits at minimum risk for all micro businesses. Small business setups can also benefit from this set, as it offers a credit agent scheme for a good start.
    • A person taking loan from MUDRA Yojna also gets a credit guarantee. Under this, in case the borrower goes into debts the government bears the loan’s responsibility.
    • The agents appointed by the MUDRA committee assist the borrower in organizing and processing a business, ensuring minimum risks and negative results.
    • A regular evaluation of small business units and sectors, based on their performance, is done in order to make sure that the business is running in profit and has no liabilities.

    Schemes under MUDRA Bank

    There are three schemes, according to the requirement of the borrower, where the loan will be provided. It is further divided into three segments - the starters, mid-stage finance and the level growth seekers, based on the borrower. Here is a brief information about the three loans offered by the MUDRA Bank, under the Pradhan Mantri Mudra Yojna (PMMY):

    • Shishu: A starter scheme, around Rs 50,000 is offered as a loan amount.
    • Kishor: Under this scheme, the loan amount may vary anywhere between Rs 50,000 to Rs 5 lakh, depending on the borrower. Mid-level business organizations can opt for the Kishor scheme.
    • Tarun: The third and final level of the scheme, a person opting for the Tarun scheme can avail a loan from Rs 5 lakh to Rs 10 lakh. Businesses who are keen to develop their setups can avail this loan.

    There are a number of advantages of availing loans from the MUDRA Bank. These schemes meant for small business setups can definitely bring about a change to the Indian economy.

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  • Mudra Bank Loan Features and Benefits Reviews

    • Standard Chartered Bank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      The Standard charted bank offered me a best rate in regards to my personal loan with the lowest charges. The customer service and the response is average with SCB. They have disbursed the loan within 5 days of time, they made it within the promised time. The required loan amount has been disbursed and I am satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      Basically I have got a text message from HDFC bank to get the personal loan with 11.99 % interest rate, but later when I approached them they have increased the rate of interest upto 12.99% , in case if we need a higher loan amount. The customer service and the response is very much average with HDFC bank. The Hdfc bank need to stick on to their promises.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I got the personal loan within 55 hours of time from Citibank. They have disbursed the loan after submitting my documents. The customer service and the response with CITIBANK is average. The required loan amount has been disbursed. The rate of interest is low when compared with others. I am satisfied with the Citibank service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Standard Chartered Bank Personal Loan
      "Loan rejection"
      0.5 1.5/5 "Bad"
      My personal loan rejected due my resistant address in out of city but i am 7 years customer in SCB bank so pls make loan for out of city customers because this is my salary account so please arrange loan our of city customers otherwise bank is so good and the best think is working time 24*7 this so good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Nice"
      0.5 5.0/5 "Blown Away!"
      The response at Bankbazaar was good and I was contacted on time. The customer services was perfect as they explained all the details to me clearly and processed my information to the banks on time. There were follow up calls too and in all no hassles.
      Was this review helpful? 0
      , chilakaluripet
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      I know bank bazaar for past one year. I know about bank-bazaar through google web search. The customer service and the response is very good with bank bazaar. The website with bank-bazaar is easy to use and user friendly. I would like to say bank bazaar gives satisfactory service to the customers.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I haven't got the ICICI bank personal loan, because the executive asked to apply for the loan after 3 months, based on my profile I had a Cheque bounce in my previous product. The customer service and the response is very good with ICICI bank. The rate of interest is nominal with ICICI.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got response well within the time frame from bank bazaar and the bank partner. The customer service and the response is really good with bank bazaar. I get to know about bank bazaar through a referral. I am with bank bazaar for past 2 months. The website of bank bazaar is easy to use and customer friendly. I am satisfied with bank bazaar with the service rendered by bankbazaar.com.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Rate of interest can be decreased in future"
      0.5 4.5/5 "Excellent!"
      I didn't have any kind of relationship with Citibank so far but I have applied personal loan with Citibank for the first time and I found that they were offering the loan with high rate of interest, so that was the reason I haven't got the loan with CITIBANK. The customer service and the response was good with Citibank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 4.0/5 "Great!"
      Through Advertisements I came to know about bank bazaar. The bank bazaar user interface is really good and bank bazaar website helps us to decide to get the financial products with the best rates in the market. The customer service and the response with bank bazaar is really good. The website with bank bazaar is easy to use and user friendly. I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      ICICI bank personal loan was rejected but then they haven't revealed the reason why it got rejected. The customer service and the response need to be transparent in future with ICICI bank. The rate of interest is nominal with ICICI bank. I would say ICICI bank gave a average service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The Response part is very good with bank bazaar , so that was the reason I gave top rating . I get to know about bank bazaar through a friend referral. I am with bank bazaar for past 5 months. The website with bank bazaar is easy to use and user friendly. I would say I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I haven't received the personal loan from ICICI bank, the ICICI executives has told that I have already held up with certain EMI with other products, so that was the reason I haven't got the personal loan with ICICI bank. The customer service and the response part is good with ICICI bank. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The customer service rendered by bank bazaar is very good. The way they approach their customers is really good. The explanation given by their executives was really good. I got to know about bank bazaar through google web search. The website of bank bazaar is easy to use and user friendly. In short, I would say bank bazaar offered me a satisfactory service.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      At the start when I approached ICICI bank there was no job stability and that was the prime reason why my personal loan application has been closed. The customer service and the response was good with ICICI bank. The rate of interest is nominal with ICICI bank. I would say ICICI bank offered me a satisfactory service.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Nice Service"
      0.5 4.5/5 "Excellent!"
      I had received proper followups and updates from bankbazaar. They provide a good financial service. Recently I sought their assistance in taking the personal loan. For the service, I got good response from them and they have good web portal to apply for the loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      Right from day one I had received a good response from ICICI bank on my personal loan request. ICICI was good in terms of customer service and responsiveness. I never faced any kind of issues with the bank but, I did not take the loan due to the personal issues.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I have got a fairly good services from bankbazaar. They provided a good response on my loan application. I am happy with their way of response and their customer service. I found that the website is good to handle and it is very informative. In all, it is good enough.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • IndusInd Bank Personal Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I preferred Indusind bank for the personal loan, hence I applied for the loan through third party online source. But I just postponed my plan so I did not take the loan. I had received good response and service from the bank for my loan application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "its easy"
      0.5 4.0/5 "Great!"
      Nice, its very easy to get loan but intrest rates so high. But its OK. In emergency's nothing worried and burdening in banks. Simply applicable from home in just few SEC's.. Its very use full to me. But its good in iff other language provide( Hindi or Kannada). Good web site, good response, good service..
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
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