Multiple banks. Different interest rates. Call it a "conflict of interest".
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    What are the Banks offering Mudra Loan

    We found 32 What are the Banks offering Mudra Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
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    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.1000 Amazon voucher free Ad
    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.1000 Amazon voucher free Ad INSTANT DECISION
    What you'll love
    Documents
    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1000 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
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.85% - 11.85% 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
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    What are the Banks offering Mudra Loan is Rated as "Great!" by 73830 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    List of Banks offering MUDRA Loan

    The Pradhan Mantri MUDRA Yojana or PMMY as the acronym goes, is a micro financing scheme that is meant for small industries that do not get ample amount of support from banks and other financial institutions due to lack of security and experience in business. The MUDRA Loan scheme is regulated by the Micro Units Development and Refinance Agency and can offer loans up to INR 50 lakhs to the trade bodies that need it.

    Categories of MUDRA Loans

    Mudra Loan is crafted into three options and each option is meant for the business that requires that kind of range of financial help. The three options available under the PMMY are as follows –

    1. Shishu MUDRA Loan – The beginner level loan option that can offer a loan amount of up to INR 50000 is the go to loan that can be taken up by almost any organisation to meet short term financial needs. It can bridge investment gaps, shortfalls in manufacturing processes or even for buying office appliances
    2. Kishore MUDRA Loan – This loan is a more versatile loan with a higher loan limit of up to INR 5 lakhs. The loans taken as per this can form the basis of any small business that needs urgent financing with respect to enhancing infrastructure and fulfilling manufacturing or production needs
    3. Tarun MUDRA Loan – The Tarun variant of the MUDRA loan allows for the maximum credit amount of INR 50 lakhs. Loans through this can easily serve as start-up funding for small to mid-size businesses that have plans for opening up in multiple locations.

    Popular Banks offering Business Loans under Pradhan Mantri Mudra Yojana (PMMY)

    The banks that are officially approved to offer Business Loans must meet the following criteria as per their category –

    • Scheduled Commercial Banks –
      1. Must be either public sector or private sector
      2. Must have been in operation for 3 years
      3. Must have 3 continuous years of profit track record
      4. Must not have non-performing assets more than 3%
      5. Must have a minimum net worth of INR 100 crores
      6. Must have a Credit to Risk Assets Ratio of not less than 9%
    • Regional Rural Banks –
      1. Non-performing assets should not be more than 3%
      2. Credit to Risk Assets Ratio should be more than 9%

    The above criteria also applies to micro finance and small business companies.

    The banks that are currently offering business loans under the Pradhan Mantri MUDRA Yojana have interest rates ranging from 11% to 37%. Some of the more popular banks that are offering MUDRA loans are as follows –

    1. Oriental Bank of Commerce
    2. ICICI Bank
    3. Kotak Mahindra Bank
    4. Standard Chartered Bank
    5. Indian Bank
    6. State Bank of Patiala
    7. Bank of India
    8. Central Bank of India
    9. IDBI Bank
    10. Citibank
    11. HDFC Bank
    12. Indusind Bank
    13. Dena Bank
    14. State Bank of Bikaner and Jaipur
    15. State Bank of Travancore
    16. Canara Bank
    17. Allahabad Bank
    18. Vijaya Bank
    19. Karur Vysya Bank
    20. UCO Bank
    21. Bank of Baroda
    22. Union Bank of India
    23. Tamilnad Mercantile Bank
    24. Indian Overseas Bank
    25. South Indian Bank
    26. Bank of Mahrashtra
    27. State Bank of Hyderabad
    28. HDFC Bank
    29. State Bank of India
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  • What are the Banks offering Mudra Loan Reviews

    • ICICI Bank Personal Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      Due to lacking of documents only especially when it comes to address proof, I have not taken the personal loan with the ICICI bank and the rate of 12%. I would like to say that the customer service needs to improve with the ICICI bank and the response too.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      The interest rate is too high for the personal loan with ICICI bank,which is of 16.5% so I just cancelled my loan application. But from the bank I received very good response for the loan application. I do have multiple account with ICICI bank. All their service are good.
      Was this review helpful? 0
      , meerut
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is an excellent one because they have contacted me in couple of times, also I am using it from the last two to three months of time. I would like to say that the response is good one with the Bankbazaar.com and am happy with them.
      Was this review helpful? 0
      , satara
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Financial Advisor"
      0.5 5.0/5 "Blown Away!"
      My experience with Bank Bazaar is good, The website is good to check the interest rates of ICICI, Axis and other banks and its convenient to choose the best bank in the market. I got instant response from Bank Bazaar website once I have posted the request for personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Need to improve"
      0.5 2.0/5 "Expected more"
      ICICI bank have not reverted to me till now and the rate of interest was around 14.5% and the customer service was not good like I have went there thrice to their place for submitting the documents. I would like to suggest that ICICI bank need to be more transparent with the customers.
      Was this review helpful? 0
      , satara
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Hassle free process"
      0.5 5.0/5 "Blown Away!"
      ICICI Interest rate is competitive as per the market, but first time when I applied for the personal loan through online channel it was rejected, again I went to bank personally and I took the personal loan with nominal interest rate, I am fine with that.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Good"
      0.5 3.0/5 "Satisfactory"
      Bankbazaar.com is also good and they have approached me and they have helped in a good way. I have used it for the first time. Website of the Bankbazaar.com is easy to access and the response is an immediate one with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 24, 2017
    • HDFC Bank Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I got the personal loan with the HDFC bank for the interest rate as 12.9% and the customer service was pretty good,. Within a week of time, the loan amount got disbursed to my account and the response was very good. Processing charges and the insurance charges were around 7000 Rupees, which should be optional.
      Was this review helpful? 0
      , pune
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Better service with bankbazaar"
      0.5 5.0/5 "Blown Away!"
      I have made a web search for the personal loan , then I have found bankbazaar.com, There web portal is easy to use and customer friendly. The customer support with bankbazaar is really helpful and supportive. This is my first product getting through bankbazaar.com.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Standard Chartered Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application went smooth with the standard charted bank. The documentation process also went smooth. They just took around 2 to 3 days to disburse my personal loan. The rate of interest is nominal with them. Overall the service is better with Standard Charted Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Informative web portal"
      0.5 5.0/5 "Blown Away!"
      I got an excellent service from bankbazaar. They provided a lot of information about the loan. It was easy to select the bank for the loan as they are providing the bank details. Since they are providing the information in detail, it is very easy to go with the bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      ICICI bank closed my personal loan application due to constrains with eligibility criteria. When I submitted the application they were so active and very responsive towards my application. There was no issues with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Helpful"
      0.5 4.0/5 "Great!"
      Bankbazaar.com have helped me and the website is good and the response is fast too. I came to know about Bankbazaar.com through some professional knowledge and they have contacted me within three to four months of time from the time of my inquiry.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I have not taken the personal loan with the Oriental bank of commerce because I have postponed the plan to some extent. Rate of interest was around 10% for the personal loan and the customer service was good one and they were polite too.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Good services"
      0.5 4.0/5 "Great!"
      The experience at Bankbazaar has been good in the services and they responded well to me and on time. The calls continued till the end of the process checking my loan application has been on track. The website is designed well and very informative.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 24, 2017
    • Fullerton Personal Loan
      "High ROI & charges"
      0.5 3.5/5 "Pretty good"
      Since I was not in town I could not submit the documents for the personal loan at Fullerton. More over the rate of interest was extremely high and so was the processing charges. I got a rate of 19%. The services and response was on time to check on my requirement.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The overall experience was good at Bankbazaar as the process was on time and the services was fast. I received a follow up call as well which was helpful. The website is good and it is easy to access and also informative with the details of various banks
      Was this review helpful? 0
      , panchkula
      Reviewed on May 24, 2017
    • IndusInd Bank Personal Loan
      "Disappointed with the service"
      0.5 1.0/5 "Really Bad"
      I have not received good response from Indusind bank for my personal loan application. Actually they informed me that since Iam salaried person loan cannot be sanctioned to me if Iam salaried then only it can be done it seems I have opted for 4 laks loan,
      Was this review helpful? 0
      , panchkula
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had taken the personal loan from ICICI bank. The interest rate is around 16.75% which is little higher than the other banks. But I got very good response from the bank, the entire process went good without any hassles.
      Was this review helpful? 0
      , indore
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Good in Customer service"
      0.5 4.0/5 "Great!"
      Customer service is good with bankbazaar. I received regular updates and proper service on my application. Website was quite easy and it is accessible. I did not find any challenges with bankbazaar while processing my loan request with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 24, 2017
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