• Custom Free
     

    Custom quote

  • List of businesses covered under Mudra Loan

    Loading your search...
  • 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 businesses 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 Loan

    The banks that are currently offering business loans under the Pradhan Mantri MUDRA Yojana have interest rates ranging from 11% to 37%. Here are the interest rates for loans of different schemes provided by the MUDRA Bank:

    MUDRA SHISHU Yojana

    Loans up to Rs 50,000 under this scheme. A nominal interest rate of 10% to 12% is charged for the loan.

    MUDRA KISHOR Yojana

    Loan amount of Rs 5,00,000. 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

    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.

    Banks offering Business Loans under Pradhan Mantri Mudra Yojana

    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%

    List of Banks offering Mudra Loans

    Public Sector Banks  Private Banks  Co-operative Banks 
    Oriental Bank of Commerce  ICICI Bank  Kalupur Commercial Co-operative Bank 
    Kotak Mahindra Bank  HDFC Bank  Gujarat State Co-operative Bank 
    Standard Chartered Bank  Indusind Bank  Mehsana Urban Co-operative Bank 
    Indian Bank  Axis Bank Ltd  Rajkot Nagarik Sahakari Bank 
    State Bank of Patiala  Jammu & Kashmir Bank   
    Bank of India  Karnataka Bank   
    Central Bank of India  City Union Bank   
    IDBI Bank  Yes Bank   
    Citibank  South Indian Bank   
    Dena Bank  Kotak Mahindra Bank   
    Canara Bank  Federal Bank   
    Allahabad Bank  Tamilnad Mercantile Bank   
    Vijaya Bank  Karur Vysya Bank   
    UCO Bank  DCB Bank   
    Bank of Baroda  Catholic Syrian Bank   
    Union Bank of India  Nainital Bank   
    Indian Overseas Bank  Ratnakar Bank   
    South Indian Bank     
    Bank of Maharashtra     
    State Bank of India     
    Syndicate Bank     
    Punjab & Sind Bank     
    United Bank of India     
    Andhra Bank     
    State Bank of Mysore     
    Corporation Bank     
    Central Bank of India     
    Punjab National 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.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.