The Pradhan Mantri Mudra Loan 2024 scheme, initiated by the Government of India, aims to provide financial assistance to small businesses and startups. With loan amounts ranging from ₹50,000 to ₹10 lakhs, this scheme targets individuals looking to start or expand small-scale businesses.
It also contributes to reducing unemployment and enhancing economic opportunities across India. Here’s a detailed guide on eligibility, required documents, and the application process for the Mudra Loan 2024.
Mudra Loan 2024 Overview
| Scheme | Pradhan Mantri Mudra Loan 2024 |
|---|---|
| Government | Indian Government |
| Category | Small Business Loan |
| Loan Amount | ₹50,000 to ₹10,00,000 |
| Target Beneficiaries | Taxi Drivers, Fruit & Vegetable Vendors, General Stores, etc. |
| Application Mode | Online and Offline |
| Category | Yojana |
| Official Website | www.mudra.org.in |
Maximum Mudra Loan Amount 2024
| Category | Loan Amount |
|---|---|
| Shishu | Up to ₹50,000 |
| Kishore | ₹50,000 to ₹5,00,000 |
| Tarun | ₹5,00,000 to ₹10,00,000 |
Eligibility Criteria for Mudra Loan 2024
To be eligible for a Mudra Loan, applicants must meet the following criteria:
- The applicant must be at least 18 years old at the time of application.
- Only Indian citizens are eligible for this scheme.
- Applicants with a high CIBIL score are eligible for lower interest rates.
- The loan must be utilized for MSME-related activities, including manufacturing or service-based businesses.
- The applicant’s Aadhaar and PAN card must be linked to their bank account.
- Business information must be registered on the Udyam Sarkari Portal.
- A valid GST number is required for eligibility.
Documents Required for Mudra Loan Registration 2024
Applicants must submit the following documents during the Mudra Loan application process:
- PAN Card
- Aadhaar Card
- GST Number Details
- Business Registration Information
- Domicile Certificate
- Category Certificate (if applicable)
- Udyam Registration Details
How to Apply Online for Mudra Loan 2024
Follow these steps to apply online for the Mudra Loan 2024:
- Visit the Website: Go to the official e-Mudra Loan portal.
- Click ‘Apply Now’: On the homepage, select the ‘Apply Now’ option.
- Proceed with Instructions: Read the guidelines provided in Hindi or English, then click “OK.”
- Enter Loan Details: Input the required loan amount, your SBI account number, and your registered mobile number.
- Upload Documents: Submit all required documents such as Aadhaar, PAN, and business details.
- E-Sign the Application:
- Enter your Aadhaar number for e-signature.
- Approve the use of your Aadhaar for e-signing.
- Enter the OTP received on your registered mobile number to authenticate.
- Submit the Application: After completing all the steps, submit your application.
With minimal paperwork and a streamlined approval process, SBI’s e-Mudra Loan service ensures quick and hassle-free access to funds.
FAQs
What is the loan amount under the Mudra Loan scheme?
The loan ranges from ₹50,000 (Shishu) to ₹10,00,000 (Tarun).
Who can apply for a Mudra Loan?
Indian citizens aged 18 or older with an eligible business plan can apply.
What documents are required to apply for a Mudra Loan?
Documents such as PAN card, Aadhaar card, GST details, business registration, and domicile certificate are needed.
Is Aadhaar mandatory for Mudra Loan registration?
Yes, Aadhaar is mandatory and must be linked to your bank account.
Can I apply offline for the Mudra Loan?
Yes, applications can be submitted both online and offline at participating banks.
What businesses are eligible for the Mudra Loan scheme?
Eligible businesses include taxi services, vegetable vending, small manufacturing units, and general stores.
What is the interest rate for Mudra Loans?
The interest rate varies depending on the bank and loan category but is generally lower for individuals with a high CIBIL score.
Where can I check my application status?
You can check the status of your application on the official Mudra Loan portal.
Click here to know more.
