Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Mudra Loan Application is Rated as "Great!" by 98041 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Mudra Loan Application

    MUDRA or Micro Units Development and Refinance Agency Ltd. is an institution set up by the government of India to offer funding to non-corporate and non-farm sectors of the micro and small enterprises that are in need of credit. MUDRA Loans can be availed for:

    • Commercial vehicle loan, car and two-wheeler loan.
    • Working capital requirement loan..
    • Loan to buy plant and machinery.
    • Loan to renovate office.
    • Drop line overdraft
    • Overdraft facility, etc.

    MUDRA Loan cannot be taken for personal requirement, to buy a personal vehicle or for educational purposes. The loan cannot be taken by a rich businessman. One must have a genuine business plan to get the loan.

    Documents required to avail MUDRA Loans

    The following are the documents required to avail MUDRA loans:

    • Identity proof:
      1. Voter ID Card
      2. Driving license
      3. Passport
      4. PAN Card
      5. Signature identification from proprietor, partner or director.
    • Residence proof:
      1. Electricity bill
      2. Recent telephone bill
      3. Property tax receipt
      4. Voter ID card of proprietor, partner or director.
      5. Business address proof
      6. Last 3 years balance sheet along with Income or sales tax returns.
      7. Partnership deed or Memorandum and Articles of Association of the company.
      8. Assets and liabilities statement along with ITR.
      9. Rent agreement, if the business premises is rented.
      10. SSI or MSME registration.
      11. Trade references.
      12. Proof of business continuity.
      13. Project balance sheet for the next 2 years, if you are availing working capital loan.
      14. Lease deed copy or title deed of the property.
      15. 2 passport sized colour photographs.
      16. Proof of qualification.

    MUDRA Loan Application Form Important Fields

    MUDRA Loan can be applied for at the authorised banks. There are 27 public sector banks, 17 private sector banks, 31 regional rural banks, 4 co-operative banks, 36 MFIs and 25 NBFCs who are authorised to disburse MUDRA loan. You will have to fill up the following in the MUDRA Loan application form:

    1. Name of the bank and the branch where the loan is required.
    2. Name of applicant or applicants
    3. Father’s or husband’s name
    4. Choose if the constitution is either individual, joint, proprietor, partnership or other.
    5. Residential address and mention if it is rented or owned.
    6. Business address and mention if it is rented or owned.
    7. Date of birth
    8. Age
    9. Sex
    10. Educational qualification, if illiterate, up to 10th grade, graduate, professional or other.
    11. KYC Documents, specify if ID proof or Address proof: Voter ID number, Aadhaar number, Driving license number or others.
    12. Telephone number
    13. Mobile number
    14. Email address
    15. Line if business and its activity and for the period it has been running.
    16. Annual sales, existing and proposed.
    17. Experience, if any.
    18. Social category, if General, SC, ST, OBC or Minority. If minority choose if you are Buddhist, Muslim, Christian, Sikh, Jain, Zoroastrians or others.
    19. Loan amount required. Mention if you need overdraft or term loan.
    20. Detail of the existing account, mention the type of loan or deposit and the name of the bank and the branch. Mention the account number and if it is a loan account mention the loan amount.
    21. Finally put your signature and enter the date and place field under the declaration in the form.
    22. The authorised bank will then give you the acknowledgement slip. It will be signed and sealed by the authorised personnel of the branch.

    Mudra Loan Application Form Reviews

    • Bank Bazaar Personal Loan
      "Awesome one stop shop "
      0.5 5.0/5 "Blown Away!"
      Various option available in Bank Bazaar, rather going to direct financier. here we can analyze the real information in website without going anywhere. I am using the site for past 2 months, the portal is good to post the request. The customer support team gave me the proper information.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 14, 2019
    • Tata capital Personal Loan
      "Satisfactory Experience"
      0.5 4.0/5 "Great!"
      I am satisfied with Tata Capital documentation part and they have fulfilled the commitment on my personal loan. The interest rate is quite nominal they gave me the same thing which provided by other banks. Even the door step documentation process is good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 14, 2019
    • Axis Bank Personal Loan
      "Reduce the charges"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan in Axis Bank before 4.5 years back and its been completed before 5 to 6 months have taken top-up loan. The customer service is very good. The charges are more compared to other banks. The loan duration is 5 years. Monthly installment is 5600 rupees through net banking.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The customer service and response was better. I have been using the bank bazaar website for past 2 years, It was helpful to take credit card,loans and to check the credit score. Am comfortable with the mobile app. Most I like the responsibility is very good and process was simple.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Early Salary Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan from Early Salary through online channel. The customer service is good and the response was proper. The interest rate is better, I have taken 18K from the Early Salary and have completed one EMI and two more is pending. The documents are collected by the executive.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The customer service and response was good. This is the first time with bank bazaar and it was recommended by my friend. The response was very quick from the bank bazaar, It is easy to compare and take the loan. Am comfortable with the mobile application.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Early Salary Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The executive did not came to collect my documents and have tried to contact him, does not respond to me. The rate of interest is nominal. The process was easy in Early Salary to take the personal loan. The processing fee is okay. I have taken a loan for 35K which will be paid at single payment. I have request to extend my loan amount.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      This is the first time I have logged in bank bazaar for the personal loan which has been recommended by some one. Its pretty good and feasible. I am able to compare with the multiple banks at one platform. I have used the website,I don't prefer mobile application.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 14, 2019
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken my personal loan from Citi Bank through online channel. I think the interest rate which can be lower compare to other banks. I believe they have charged the processing fee which is minor amount because have not received the whole amount on my loan. They took 3 to 4 days for the disbursement. My documents are collected by the executive.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I am happy with the bank bazaar and it was mentioned as paper less but at last they have requested for cheque leaf and other hard copy, this is to be informed to the customer in prior. The customer service is good, they were not very clear about the documentation alone. I used the website.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Tata capital Personal Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I guess the rate of interest is best which was given by Tata Capital where others are given more percentage. I opted for 3 years, I don't know about the terms and conditions for foreclosure. The executive came to my office and took some documents. The process was immediate and not has lengthy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Bank Bazaar is good and sometimes the requirements are not fulfilled interms of rate of interest on the personal loan. There was no issues with the customer service and i would say its good. I am using the site for more than 2 to 3 years and have checked the credit score and showing some closed loans.
      Was this review helpful? 1
      , mohali
      Reviewed on Jan 14, 2019
    • IndusInd Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      They have given me a good service. I am satisfied with the Induslnd Bank. They have taken bit longer time to collect the documents. The rate of interest was prompt and there was no processing fee. They took a week to deliver the loan amount. I can do partial payment and foreclosure anytime without charges.
      Was this review helpful? 1
      , mohali
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have applied for the personal loan in bank bazaar, the representative was very co-operative. probably am using it for 3 to 4months and have known it through online. Everything was fine and used the mobile app which was easy to compare and hassle free.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Jan 14, 2019
    • Early Salary Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have no issues with the Early Salary and there is no need for me to contact their customer service. Only one thing is the rate of interest and charges are high compared to others. I have taken the loan of 20, 000 rupees. The documentation procedure was perfectly fine.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have to be a mediator for the bank and bank bazaar and need to followup every day. After disbursing They said will get Amazon gift voucher which I yet to receive. Its my first time and known through online Google search and TV advertisement. Their mobile app was simple and handy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Need to improve the service"
      0.5 2.0/5 "Expected more"
      HDFC have delayed too much in disbursing the loan. The rate of intersect and charges are good. The document are submitted online, I opted for 4 years. The partial payment can be done after one year and they charge 4% for foreclosure. The customer service and response was not up to the mark.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have dealt with bankbazaar.com for the first time to apply the personal loan. Initially I used to check my credit score and later have tried for the loans. The process was very good and it was done without any hassle. Am comfortable with the website than my phone. I like the service very much.
      Was this review helpful? 1
      , hosur
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The process was very faster and the response was on time. They have delivered the loan within a week. The documentation procedure was easy and have submitted online and as well as to the executive. I think the rate of interest was little bit high suggest them to reduce the charges. The loan tenure is 5 years and its a fixed interest rate.
      Was this review helpful? 1
      , hosur
      Reviewed on Jan 14, 2019
    • Bank Bazaar Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan through bankbazaar.com and it was my first time experience. I have used the website on my mobile phone which was simple to access. I have received the promotional message. I have checked my credit score and have checked personally with HDFC, both are not matching.
      Was this review helpful? 1
      , nellore
      Reviewed on Jan 14, 2019
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