Pradhan Mantri Mudra Yojana and Application Form 2020

Pradhan Mantri Mudra Yojana and Application Form 2020

Term loan & Cash Credit facility up to 10.00 lakh to nonfarm units engaged in Manufacturing, trading & service activities.

Food products sector, activities allied to agriculture and services in these area up to Rs.10.00 Lakh included under PMMY.

Schemes under PMMY are : -

• Shishu — Loans up to 50000/-
• Kishore - Loans from 50001/ - to 300000/-
• Tarun - Loans from 500001/ - to 1000000/-

Overdraft facility extended for eligible PMJDY beneficiary will be covered under PMMY. No collateral & third party guarantee.

Interest Rate : -

• MSE loans up to Rs.10.00 lakh : @MCLR+BSS
• Agricultural allied activity, food processing etc. Slab wise interest rate as under
• Up to Rs.30000/- : @ MCLR+BSS-F0.73%
• Above Rs.30000/- & up to Rs.2.00 lakh : @ MCLR-FBSS+1.30%
• Above Rs.2.00 lakh & up to Rs.10.00 lakh: @MCLR+BSS-F 2.00%
• (BSS is Business Strategy Spread which is at present: 0.25%)

Imporatant Document

1. Proof of Identity - Self certified copy of Voter ID card / Driving License / PAN Card / Aadhar Card / Passport.
2. Proof of Residence - recent telephone bill, electricity bill, property tax receipt (not older than 2 months), voter ID card, Aadhar card and passport from owner / partner.
3. Proof of SC / ST / OBC / Minority.
4. Proof of Identification / Address of Business Enterprise - Related License / Registration Certificates / Business Ownership Documents, Identity and Address Related Documents.
5. Applicant should not be defaulter in any bank / financial institution.
6. Current banker, if any, statement of accounts (last six months)
7. The last two years balance sheet of the unit along with income tax / sales tax return etc. (Over Rs 2 Lakh and applicable for all cases)
8. In case of working capital limit and term loan, estimated balance sheets for one year for loan term (Rs. 2 lakh and above are applicable for all cases).
9. Sales received in the current financial year from the date of application submission.
10. Project report detailing the technical and economic environment (for the proposed project). ii. 
11. Partnership Deeds (in case of partnership firm) etc.
12. Property and liability statement (in the absence of party guarantee), partners including the borrower can be asked for net-worth information.
13. Owner / partner photos (two copies)

MUDRA Debit Card will be provided to all Cash Credit account holders under PMMY Loan Application Form for Pradhan Mantri Mudra Yojana (PMMY)

How to apply for MUDRA loan?

The Pradhan Mantri MUDRA Yojana (PMMY) launched on 8th April 2015, provides loans to small business owners up to the amount of Rs 10 Lakh.

Following are the individuals who need to know how to apply for MUDRA loan under this scheme:

Small manufacturing business owners

Fruit and vegetable sellers, Artisans, Shopkeepers,

Those associated with various agriculture activities like livestock, daily, pisciculture, poultry, fishery, etc. Suit all your business needs with unsecured Business Loans up to Rs 30 lakh.- Apply Now!!

How to apply for MUDRA loan at a financial institution?

Individuals have to follow the steps mentioned below to apply for MUDRA loan:

Step 1. Keep the necessary documents ready

Applicants need to have the necessary documents required to avail a MUDRA loan. These include identity proof (Aadhaar. Voter ID, PAN, Driving License, etc.), address proof (electricity bill, telephone bill, gas bill, water bill, etc.), proof of business (business registration certificate, etc.).

Step 2. Approach a financial institution

Individuals can apply for a MUDRA loan with almost all leading financial institutions in India.

Step 3. Fill in the loan application form

Applicants then have to fill the MUDRA loan application form and furnish their personal and business details. They also have to ascertain the amount they want to avail before knowing how to apply for MUDRA loan scheme.

Under the PMMY scheme, one can apply for 3 types of MUDRA loans:

Sishu : - Covers loans up to Rs.5o,000 for starting a business or for businesses in its early stages. Kishor : - Covers loans up to Rs.5 Lakh for already established businesses seeking additional funding.

Tarun : - Covers loans up to Rs. io Lakh for well-established businesses meeting certain eligibility.

Once you've followed the above steps, the bank or financial institution will sanction the MUDRA loan into your account.

Some lending institutions also provide the option of Mudra Loan Online Apply

Leading NBFCs like Bajaj Finserv offer similar business loans for MSMEs up to Rs.3o lakh which can easily be applied for online. Such loans can be availed whenever there is a shortage of working capital, need to buy improved machinery & equipment, need for debt reconciliation, etc. These loans are quick to avail and can be used to address multiple financial requirements.

People also Queastions 2020.

• What is PM Mudra Yojana?

• How can I get Mudra loan?

• What is PMMY?

• Can I apply Mudra loan online?

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• Pradhan Mantri Mudra Yojana loan interest rate

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Important Links : -

• Official Website : - Link 1 , Link-2 , Link-3

• Common Loan Application form for Kishor and Tarun : - Form Gujarati

• Application Form for Shishu : - Link-1 , Link-2

• Full Deatils Gujarati : - Link-1 , Link-2