PNB Mudra Loan: Mudra loan facilities are very helpful for individuals who want to start a new startup as it is provided by trustable banks in India by following the guidelines of the Government of India. A maximum of 10 lakh Rupees are provided under Mudra loan to the beneficiaries.
If you are also looking for a PNB Mudra Loan then you can apply for a PNB Mudra Loan online mode in Punjab National Bank under the PNB e-Mudra loan scheme 2023. You can read the PNB Mudra Loan eligibility criteria and other important instructions for the Punjab National Bank e Mudra loan 2023 application online in this article. So to know more about the PNB Mudra Loan, stay connected with us and read the whole article till the end.
PNB Mudra Loan
PNB Mudra Loan was started in 2015 by the central government and provides help at a distance of a maximum of 10 lakh rupees. The loan is provided by participating banks and Punjab National Bank is also one of them. There are three categories of Mudra loans including the Shishu Mudra loan for a maximum of 50000, the Kishor Mudra loan for 50,000 to 500000 rupees, and the Tarun Mudra loan for a maximum of 10 lakh.
The interest rates are calculated by Punjab National Bank for Mudra loans as RLLR+BSP+0.15%. Applicants will get a maximum of 7 years of repayment facilities to pay the loan amount. However, you can submit the loan at one time during the repayment duration.
However if you want to apply for PNB Mudra loan, then you may ask maximum 50000 rupees through online mode, but if you want more amount then you should visit to the branch physically.
PNB Mudra Loan : An Overview
| Article Name | PNB Mudra Loan |
| Article Category | Loan |
| Application Mode | Online |
| Loan Amount | 50,000 to 10 Lakh |
| Who can apply ? | All account holders who have an account with PNB |
| Official Website | https://instaloans.pnbindia.in/ |
Eligibility Criteria for PNB Mudra loan
- Any individual who is a citizen of India can apply for a Mudra loan in Punjab National Bank.
- Applicant should have savings account or current account in the Punjab National Bank from at least 6 months.
- The age of the applicant should between 18 years to 60 years.
- The business of the applicant should be registered with the Udyam portal of the Government of India and should have the Udhyam registration number.
- Primary- Hypothecation of assets created out of the Bank’s Finance. Collateral- Guarantee Coverage under CGFMU shall be obtained.
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Documents required for PNB Mudra Loan
- Aadhar card
- Pan card
- Adress proof
- Documents of the business
- Udyam registration details
- GST number and details
- Bank statement of last 6 months
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How to apply online for PNB e-Mudra loan ?
If you want to get Mudra loan through online mode from Punjab National Bank, then you have to follow the following procedure by visiting to the official website of the Bank. After completing the procedure you will get instant loan from the bank.
- Click on this link to visit on the official website of Punjab National Bank : https://www.pnbindia.in/
- Now you will reach on the dashboard, where you have to click on the link of online services and select instant loan link.
- After that you will reach on the new page where you have to select the e-mudra loan section.
- Bank will show all the terms and condition on the official website after reading all the instructions and terms and conditions you can click on the continually and the application page will appear on your screen.
- Enter your customer id or account number or mobile number which is linked with Punjab National Bank
- After that you will receive OTP for verification.
- Now bank will calculate banking history automatically and offer you the Mudra loan amount according to your category and condition.
- If you are agreed with all the conditions then you have to submit your personal details and provide business related information.
- At the end you have to complete the KYC by providing Aadhar card number and udyam registration number where you will receive OTP for verification.
Once you provided all the information select the loan amount and repayment according to your facilities after that your application will successfully submitted. Company will verify your details and provide you instant loan in your bank account.
Categories of PNB Mudra Loan
- Shishu : In this scheme, the applicant is provided with a maximum sum of Rs. 50,000.
- It is best suitable for budding entrepreneurs or startups enterprises
- Kishore : Through this scheme, the applicant can get financial assistance from Rs. 50,000 to Rs. 5 lakh. The bank will evaluate the credit history of the applicant and based on that will decide the rate of interest and reimbursement period.
- It is allotted to those business owners who have already started a new enterprise and seek further assistance for expansion.
- Tarun : Through this scheme, the applicant can get up to Rs.10 lakh.
- The bank will evaluate the credit history of the applicant and on that basis will set the rate of interest and reimbursement period.
Conclusion : –
Friends, we have tried to explain all the information about taking E-Mudra loan in simple and easy language to all the Punjab National Bank account holders reading this article.
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FAQ’s : PNB Mudra Loan Scheme
Who can apply for a PNB Mudra Loan ?
Applicants for PNB Mudra Loan should be Indian citizens engaged in the trading, manufacturing, or service sector. The business must classified as Micro, Small, and Medium Enterprises (MSMEs). Additionally, enterprises in non-agricultural sectors, such as fish farming or beekeeping can also avail Mudra loan.
What is the rate of interest offered by PNB Mudra Loan ?
PNB Mudra Loan is offered to MSME at an interest rate of 8.55% p.a.onwards.
What is the maximum loan quantity that the PNB Mudra loan will disburse ?
The maximum loan amount that applicants may get via PNB Mudra Loan is Rs. Rs.10 lakh, whereas the minimum loan amount has no limit.
What is the process and necessity of taking a Mudra loan from a bank ?
To apply for Mudra loan applicants need to download the form online and visit the nearest bank branch to proceed with banking formalities.
What to do if a bank manager declined the Mudra loan application ?
Candidate has to reapply for the same loan from any other Bank or NBF.
How long is the processing time for Loans under the Mudra Scheme ?
The processing time of the Mudra loan is approximately 10-15 working days. However, it depends on the lender and differs from applicant to applicant