Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 What are the Industries covered under Mudra Yojana

    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
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    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
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    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
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    Perks
    Think about
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    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
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    Perks
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    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
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    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
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    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
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    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
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    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
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    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
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    Perks
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    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
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    Good to Know
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    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
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    What are the Industries covered under Mudra Yojana is Rated as "Great!" by 77152 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Industries Covered Under MUDRA Bank Loan Scheme

    MUDRA Bank or Micro Units Development and Refinance Agency Bank, is a new initiative by the Government of India set up for the development of micro units and refinance of MFIs. This bank has been conceptualized in order to encourage entrepreneurship, by offering funds to the non-corporate small business sector. The MUDRA Yojana was announced by the Finance Minister during FY2016’s Union Budget. According to this scheme, the loan under Pradhan Mantri Mudra Yojana (PMMY) can be availed by any Indian citizen, with a credit requirement of Rs 10 lakh and has a business plan for a non-farm sector income generating activity such as trading, manufacturing, service sector, or processing. A Bank, MFI (Micro Finance Institution), or NBFC (Non-Banking Finance Company) can be approached for availing of MUDRA loans.

    List of Industries avail Mudra Bank Loan

    The MUDRA Bank covers industries and other service sectors that are operating in rural areas of the country. The schemes are specifically designed for the weaker section of people with good entrepreneur skills who require working capital to start their business. The Yojna also operates a special scheme for women entrepreneurs called Mahila Uddyami Scheme. In order to avail the Mudra loans under PMMY, the usual terms and conditions of the lending agency are applicable. Rates are determined as per the guidelines of the RBI. Here is a list of industries that can avail the MUDRA Bank loan.

    • Shopkeepers
    • Fruits and vegetable vendors
    • Non-Corporate Small Business Segment (NCSBS) running as small manufacturing units that comprise millions of proprietorship or partnership firms
    • Service sector units such as beauty parlours, boutiques, courier agents, cycle and motorcycle repair shop, dry cleaning shops, DTP and Photocopying Facilities, gymnasiums, pharmacies, saloons, tailoring units, etc.
    • Truck operators.
    • Loans can be availed for purchase of transport vehicles for goods and personal transport such as passenger cars, auto rickshaw, e-rickshaws, taxis, small goods transport vehicle, 3 wheelers, etc.
    • Artisans,
    • Food-service units
    • Food processing units such as agricultural produce preservation at rural level, small service food stalls, biscuit, bread and bun making, canteen services, day-to-day catering, cold storages and cold chain vehicles, jams/jellies making, papad and pickle making, sweet shops, ice and ice cream making units.
    • Repair shops or mechanic sheds
    • Small industries such as chicken work, cotton ginning, traditional embroidery and hand work, handloom, knitting, apparel design, computerized embroidery, traditional dyeing and printing, powerloom, textile non garment products such as bags, vehicle accessories, furnishing accessories, zari and zardozi work, stitching and others.
    • Machine operators

    Interest Rates for MUDRA Bank Loans

    The bank offers nominal rates of interest based on the requirement. Here are the interest rates for loans of different schemes provided by the MUDRA Bank:

    MUDRA SHISHU Yojana

    Banks offer loans up to Rs 50,000 under the Mudra Shishu Yojana. Being a basic scheme, a nominal interest rate of around 10% to 12% is charged for the loan.

    MUDRA KISHOR Yojana

    A loan amount of Rs 5,00,000 is offered under Mudra Kishor Yojana. Categorized as unsecured loan and being a middle scheme the rate of interest ranges from 14% to 17% depending on the bank, where loan is availed.

    MUDRA TARUN Yojana

    The last scheme offered is the Mudra Tarun Yojana, where a loan amount of Rs 5,00,001 to Rs 10,00,000 can be availed. An unsecured loan, this comes with an interest rate of 16% and may vary according to the bank approached.

    This was all about the industries covered by the MUDRA Bank and interest rates offered on the loan scheme. In order to avail a loan, all essential details should be furnished to the bank for a seamless procedure.

    Banks offering Business Loans under PMMY

    The banks that are officially approved to offer Business Loans should meet the following criteria according to their category. The following criteria also applies to microfinance and small business companies.

    Scheduled Commercial Banks

      • Should be either public sector or private sector
      • Should have been operational for at least for 3 years
      • A profit track record 3 continuous years is a must
      • Non-performing assets should not be more than 3%
      • A minimum net worth of INR 100 crores is mandatory
      • Must have a Credit to Risk Assets Ratio of not less than 9%

    Regional Rural Banks

    • Non-performing assets should not exceed 3%
    • Credit to Risk Assets Ratio should be more than 9%

    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 –

    What are the Public Sector Banks offering Mudra Loans?

    1. Oriental Bank of Commerce
    2. Kotak Mahindra Bank
    3. Standard Chartered Bank
    4. Indian Bank
    5. State Bank of Patiala
    6. Bank of India
    7. Central Bank of India
    8. IDBI Bank
    9. Citibank
    10. Dena Bank
    11. State Bank of Bikaner and Jaipur
    12. State Bank of Travancore
    13. Canara Bank
    14. Allahabad Bank
    15. Vijaya Bank
    16. Karur Vysya Bank
    17. UCO Bank
    18. Bank of Baroda
    19. Union Bank of India
    20. Indian Overseas Bank
    21. South Indian Bank
    22. Bank of Maharashtra
    23. State Bank of Hyderabad
    24. State Bank of India
    25. Syndicate Bank
    26. Punjab & Sind Bank
    27. United Bank of India
    28. Andhra Bank
    29. State Bank of Mysore
    30. Corporation Bank
    31. Bharatiya Mahila Bank
    32. Central Bank of India
    33. Punjab National Bank

    What are the Private Sector Banks offering Mudra Loans?

    1. ICICI Bank
    2. HDFC Bank
    3. Indusind Bank
    4. Axis Bank Ltd
    5. Jammu & Kashmir Bank
    6. Karnataka Bank
    7. City Union Bank
    8. Yes Bank
    9. South Indian Bank
    10. Kotak Mahindra Bank
    11. Federal Bank
    12. Tamilnad Mercantile Bank
    13. Karur Vysya Bank
    14. DCB Bank
    15. Catholic Syrian Bank
    16. Nainital Bank
    17. Ratnakar Bank

    What are the Co-operative Banks offering Mudra Loans under PMMY?

    1. Kalupur Commercial Co-operative Bank
    2. Gujarat State Co-operative Bank
    3. Mehsana Urban Co-operative Bank
    4. Rajkot Nagarik Sahakari Bank

    What are the Other Institutions offering Mudra Loans?

    Apart from banks, certain micro finance institutions (MFIs) and non-banking financial companies (NBFCs) also offer MUDRA loans. Here is a list of the organizations:

    Mainline NBFCs

    • Mahindra & Mahindra Financial Services Ltd
    • Shriram City Union Finance Ltd.
    • Reliance Capital Ltd.
    • Religare Finvest Ltd.
    • Fullerton India Credit Co. Ltd.
    • Shriram Finance Corporation Pvt Ltd. (SRFCL)
    • Indiabulls Financial Services Ltd.
    • Shriram Transport Finance Co. Ltd.
    • India Infoline Finance Ltd (IIFL)
    • MAS Financial Services Ltd.
    • Bansal Credits Ltd.
    • SREI Equipment Finance Ltd.
    • AU Financiers India Ltd.
    • Vistaar Financial Services P. Ltd.
    • Magma Fincorp Ltd.
    • India Infoline Ltd.
    • Five Star Business Credits Ltd.
    • Intec Capital Ltd.
    • IKF Finance Ltd.
    • Esskay Auto Finance Ltd.
    • Equitas Finance Pvt. Ltd.
    • Electronica Finance Ltd.
    • Sakthi Finance Ltd.
    • SE Investments Ltd.
    • ECL Finance Ltd.

    What are the Microfinance Institutions (MFIs): MFI – NBFC offering Mudra Bank Loans?

    • Arohan Financial Services Pvt. Ltd.
    • Arth Micro Finance Pvt. Ltd.
    • Belstar Investment & Finance Pvt. Ltd.
    • Bhartiya Micro Credit
    • Cashpor Micro Credit
    • CDOT
    • Digamber Capfin Ltd.
    • ESAF Micro Finance & Investments Pvt. Ltd.
    • Equitas Micro Finance Pvt. Ltd.
    • Fusion Microfinance Pvt. Ltd.
    • Future Financial Services Ltd.
    • Grameen Development & Finance Pvt. Ltd.
    • Hindustan Microfinance Private Limited
    • IDF Financial Services Pvt. Ltd.
    • Jagaran Microfin Pvt. Ltd.
    • Madura Micro Finance Ltd.
    • Mahashakti Foundation
    • Margdarshak Financial Services Ltd.
    • Midland Microfin Ltd.
    • Muthoot Fincorp Limited
    • Namra Finance Ltd.
    • Navachetana Microfin Services Pvt. Ltd.
    • RGVN (North East) Microfinance Ltd.
    • SKS Microfinance Ltd.
    • S V Creditline Pvt. Ltd.
    • Sahyog Microfinance Ltd.
    • Saija Finance Private Ltd.
    • Sakhi Samudaya Kosh
    • Samasta Microfinance Ltd.
    • Sambandh Finserve Pvt Ltd
    • Satin Credit Care Network Ltd.
    • Shikhar Microfinance Pvt. Ltd.
    • Sonata Finance Pvt. Ltd.
    • Suryodaya Microfinance Ltd.
    • Ujjivan Financial Services Pvt. Ltd.
    • Utkarsh Micro Finance Pvt. Ltd.

    These were some of the institutions that offer PMMY loans to small businesses across the countries. The list of organizations, however, are subject to change as per the Government’s directive. Hence, it is always essential to check if the bank or micro-finance institution is offering MUDRA loan, before approaching it.

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  • What are the Industries covered under Mudra Yojana Reviews

    • Bank Bazaar Customer Support
      "Easy to find the solution"
      0.5 4.0/5 "Great!"
      Very easy to get solution for any loan or credit card even Cibil scores also. we can trust them at all times and support from customer care is really good and they were guiding us in an appropriate manner. Good one - I will recommend this site at all the times to my friends and colleagues.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      I had received a proper information and proper service from bankbazaar when I applied for the loan. They are very much responsive and forwarded my application to the bank. Bankbazaar website is good to use and it is informative. I had no issues with the service and this was my very first experience
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 26, 2017
    • ICICI Bank Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      The reason why I was unable to opt for the personal loan from ICICI bank was because, there was a home loan running for me from some other bank, so that was the reason, they have rejected my application for the loan amount I applied for one lakhs rupees. On the other hand, the customer service and the response provided by ICICI bank is really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      I got proper service from bankbazaar when I approached them for the loan requirement. The website is easy to navigate and it is easy to check the information for the loan as well. I had received good response for my personal loan application and after applying the very next day got a call from them good response as well
      Was this review helpful? 0
      , kota
      Reviewed on Jul 26, 2017
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I approached ICICI bank for the personal loan. I received proper response from the bank's end on my personal loan application.But bank executives where saying that there was dual pan card showing in my account I have told them that I have misplaced my pan card this card is new which is reflecting and the loan amount I had applied for 5 lakhs rupees.
      Was this review helpful? 0
      , kota
      Reviewed on Jul 26, 2017
    • Bajaj Finserv Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      I have recently taken a personal loan from Bajaj Finserv, it was good experience with them. Less documentation and easy processing but what I did not like about them is Intially they told me that there was no processing fee charges later on after some days they said processing fee will be charged for around 2000 rupees, So I told them I am not interested please cancel the loan later after some days they called and said no processing fee would be charge you can process the loan.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      It was really an amazing experience. The site is well managed and great. I logged in very quickly and I got the information which I required. It's really great where you get a chance to compare among various products and know more about them and this was my very first experience.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 26, 2017
    • Tata capital Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The response time from Tata capital limited has been good. I have not taken my personal loan from them because they where not having pre payment option and the loan got approved from other resources and I have applied for loan amount of 1 lakh rupees, over all it was good experience applying loan from tata capital
      Was this review helpful? 0
      , pune
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Thanx giving"
      0.5 4.5/5 "Excellent!"
      Nice place to apply for a loan ...will tell my friends to use it... nice and user friendly. Helps me to submit all my documents at one go with very easy steps. There is small suggestion if u guyz can give an end to end sevice i.e. u guyz deal with the bank and give us the loan on behalf of them then it will be a very good sevice and also it would be less time consuming. Hope one day we will be able to receive it from your end.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The bank bazaar gives a prompt response and the regular follow to their customers. I really appreciate the bank bazaar effort which was given to the customer in terms the service, follow up in any case. The customer service and the response is really good with bank bazaar. The bank bazaar web site is easy to use and user friendly my friend filled all my detail in behalf of me and the very next day I received the call.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 26, 2017
    • HDFC Bank Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      I didn't avail HDFC personal loan, because when I was in need of loan that time they have not offered me anything, they where like you have to bring this document all etc, even though I have told them I don't have address proof here because I am from Gujarat, later they said they can process the loan but it will take 1 to 2 months, so I have dropped the plan of taking it.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Requirement"
      0.5 3.0/5 "Satisfactory"
      If i am providing my aadhaar then why this is not easy to get loan or card at any place in india There is no proof bigger than aadhaar. There must be some changes which needs to be made in your policy. Also why there is not availability of cards or loan in rural area . Bank has got all the details of me then why there are a lot of verification process while I am not having much time though.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 26, 2017
    • HDFC Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      HDFC Is very fast, they are too good in understanding the customer. More over they are helpful and customer friendly. The best part, I like their service when I applied for the personal loan they done fast process and fulfilled my needs. I have applied through net banking the very next moment executive came and collected all the documents and the loan got approved with in a span of 5 minutes of time.
      Was this review helpful? 0
      , dausa
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      My experience with Bankbazaar has been great. They were pretty much fast and as soon as I placed my request, I was contacted and I got the details of all the bank options available. The website is good and overall it was a very nice smooth process
      Was this review helpful? 0
      , dausa
      Reviewed on Jul 26, 2017
    • HDFC Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I applied for personal loan with HDFC bank and the loan amount was 2.50 lakhs bu they did not approve the loan and they never share the reason also, I would suggest HDFC bank to share the reason behind so that next time can make sure that nothing goes wrong.
      Was this review helpful? 0
      , dausa
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I had received a proper information and proper service from bankbazaar when I applied for the loan. They are very much responsive and forwarded my application to the bank. Bankbazaar website is good to use and it is informative. I had no issues with the service.
      Was this review helpful? 0
      , gondia
      Reviewed on Jul 26, 2017
    • ICICI Bank Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan with ICICI bank, it got rejected because of the area under negative, and the bankers said the criteria was not match as per norms both customer service and response is average with ICICI.I have applied for 20 lakhs rupees.
      Was this review helpful? 0
      , gondia
      Reviewed on Jul 26, 2017
    • 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? 1
      , bangalore
      Reviewed on Jul 25, 2017
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