PM Mudra loan apply in 2024: Offering loan of up to Rupees 10 Lakh, Check Eligibility, Important documents & Apply Process.

PM Mudra loan apply in 2024: The Government of India is offering instant loan for up to 10 lakh rupees to Indians to start a new business. It will help to increase opportunities of business in India and will also reduce unemployment. So if you are also unemployed and want to start a new startup with the support of government, then you can apply for PM Mudra loan where you will receive sufficient amount from the government to start a new business. You can check the eligibility criteria, important document list, application procedure and other aspects of Pradhanmantri Mudra loan scheme in this article.

PM Mudra loan scheme 2024

Indian government has started Mudra loan scheme in 2015 and invited all the banks in India to provide loan to their customers. There are many formalities and documentations which are very important while applying for business loan in Bank, but Mudra loan scheme is very helpful for those citizens who want to start a new business at a small level with a minimum loan amount. Individuals such as tractor operator, Taxi Driver, fruit vegetable vendor, general store keeper etc can start their business with a little amount. But business loans come with Higher interest rates and maximum loan amounts. So these citizens can apply for a Mudra loan for a maximum of 10 lakh rs.

Most of the banks in India are providing Mudra loan to their customer with lower interested where you can apply 50000 to 10 lakh Mudra loan. Mudra loan comes with three categories including Shishu Mudra loan for maximum 50000 rupees, Kishore Mudra loan for maximum 5 lakh and Tarun Mudra loan for maximum 10 lakh. So any micro, small and medium enterprises- MSME in India can apply for Mudra loan.

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Terms and condition for PM Mudra loan

If you are planning to apply for Mudra loan then you should check the following eligibility criteria if you fulfil them then you can apply easily: 

• Minimum age of the applicant should be more than 18 years old at the time of applying for Mudra loan
• Only Indian citizens are eligible to apply in this scheme
• Cibil score of the applicant should be good to get lower interest rates in the Mudra loan
• Application should be engaged with any activity related to the MSME such as service providing facilities, manufacturing units etc. 
• You should have bank account in India and it should be linked with Aadhar and PAN card
• The business details of the applicant should be registered with government portal of udyam.
• Should have proper GST number

Important documents for PM Mudra loan scheme 2024

• Aadhar card
• PAN card
• Udyam registration details
• GST number details
• Business registration information
• Domicile certificate
• Category certificate ( if applicable)

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Apply for PM Mudra loan scheme 2024 through online mode

Banks are providing online facilities to their citizens to apply in Mudra loan scheme without visiting to the branch. However if you apply for maximum loan amount of Rs 10 lakh then Bank can invite you to visit branch physically, but most of the banks are providing online loan for up to 5 lakh rupees. You can follow the step by step procedure to apply for Mudra loan:

• First of all visit to the official website of Mudra loan scheme or you can directly click on this link https://www.udyamimitra.in/ 

• After that you will reach on the dashboard of the website where you have to select Mudra loan and click on apply now link

• After that you have to register yourself my entering your name, email id and mobile number where you will receive OTP for verification
• Click on the application form and fill your personal details and business details in this application form. 
• Now you have to upload your documents in this application form and select the loan amount which you want to get. bank will ask you to prepare repayment option

Once you submit all the details you can final submit your application form and your form will be submitted for review. Employees will verify your details and after that provide the loan amount in your bank account after reduction of all the charges including processing fees, GTS etc. 

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FAQ’S: PM Mudra loan Scheme 2024