PM Mudra Loan 2 lakh: If you are looking for a business loan to start your business or upgrade your business then you can get the benefit of the government-sponsored Mudra loan scheme. The PM Mudra Loan Yojana provides a maximum of 10 lakh rs Mudra loans which can be accessible at any bank. If you want to get an instant Mudra loan online mode then you can apply for a Maximum of 2 lakh Mudra loan within a few minutes by using your mobile phone. If want to get a Rs 2 lakh PM Mudra Loan online mode then you can read this article where we provide you with a step-by-step procedure to apply for the PM Mudra Loan scheme including the eligibility criteria and important documents to apply.
The Pradhan Mantri Mudra loan scheme was launched in 2015 by the central government. The PM Mudra Loan scheme is designed for people who want to start (micro small and medium enterprises) MSME business. However, the PM Mudra Loan is divided into 3 categories including Shishu Mudra for a maximum of 50000 rupees, Kishore Mudra for a maximum of 5 lakh, and Tarun Mudra for a maximum of 10 lakh. You can apply for this Pradhan Mantri Mudra loan scheme at any bank where you have a bank account including SBI, Bank of Baroda, City Bank, ICICI Bank, Axis Bank, HDFC Bank etc. Most of the banks are providing online facilities for Mudra loans for a maximum of 50000 rupees. Today we have provided you the information on the procedure to apply online for a 2 lakh loan in Bank of Baroda. The bank will charge Interest rates on Mudra loans according to the category and condition of the customer including credit score, applicant banking history, amount of the loan, etc.
PM Mudra Loan Eligibility 2023
- Only Indian citizens can apply online
- The existing customers of the Bank of Baroda are all eligible to apply for a Mudra loan
- Only those applicants who want to start the business or want to upgrade their business can apply.
- The minimum age of the applicant should be 21 years
- A credit score should be more than 750 to get an instant loan
- The candidate should not engage in any other type of loan from any bank
Documents Required for Pradhan Mantri Mudra Loan Scheme 2023
You have to carry the following documents in scanned document form at the time of applying online:
- The Aadhar card of the applicant
- The PAN card of the applicant
- Registration number of the business
- GST number
- Udyam registration number
- Plan to use the loan amount of the PM Mudra Loan scheme for upgrade or start a new business
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Apply online for PM Mudra Loan 2023
If you are an existing customer of Bank of Baroda then you can follow this procedure to get a Rs 2 lakh Rupees Mudra loan without visiting the branch. However other banks are also providing Mudra loan schemes through online mode so you can visit your bank website accordingly.
- First of all, visit the official website of the Bank of Baroda. You can click on this link to visit on PM Mudra loan portal https://dil2.bankofbaroda.co.in/pl/
- After that, you will be redirected to a new page where you have to click on the proceed link after reading all the terms and conditions
- After that, you will be redirected to a new page where you have to enter your mobile number which is linked with the Bank of Baroda and you will receive OTP on this number
- Once you submit the OTP you will be asked to enter the PM Mudra loan amount that you want to get from Bank of Baroda and select the EMI to repay the loan.
- Now enter the personal details and document information on the website
- After the day to have to upload all the documents online mode and click on the submit link
Your application form will be successfully submitted and you will also receive the message of application ID on your mobile number. Once your PM Mudra Loan application is approved you will get the loan amount in your bank account instantly within a few minutes.