The Government of India’s PM MUDRA Yojana (PMMY) yojana offers microbusinesses involved in trading, manufacturing, and service industries including agriculture affordable finance. An NBFC called the Micro Units Development and Refinance Agency (MUDRA) assists RRBs, commercial banks, MFIs, small finance institutions, and other NBFCs with refinances so they may lend to microbusinesses. Banks and NBFCs provide prospective business loan applicants MUDRA loans up to Rs 20 lakh. The MUDRA Card is also available to borrowers for working capital needs, cash withdrawals from any ATM, and POS machine transactions.
Pradhan Mantri Mudra Yojana 2025
A government-backed lending yojana called the Pradhan mantri Mudra Yojana (PMMY) offers up to ₹10 lakh in finance without the need for collateral. Mudra Yojana is intended to provide Micro, Small & Medium Enterprises (MSMEs) with easily accessible finance, regardless of whether you are starting a new company or growing an existing one. With cheap credit rates, an easy Pradhan Mantri Mudra Yojana 2025 online application process, and best benefits for women, SC/ST, and rural company owners, this yojana is revolutionizing the Indian entrepreneurial landscape.
As everyone is aware, in order to meet their necessities, people these days often need to take out loans. They occasionally borrow money from sources where they must pay high interest rates because of urgent needs. Their financial status is often impacted, and it takes them a long time to pay back the debt. In light of this circumstance, the Indian government has introduced the PM Aadhaar Card Loan Yojana 2025, a new yojana.
PM Mudra Yojana 2025 Details
| Yojana Name | Pradhan Mantri Mudra Yojana (PMMY) |
| Launched By | PM Narendra Modi |
| Launched in | April 2015 |
| Loan Amount | Up to Rs. 20 lakh |
| Interest Rate | Starts at 7.30% per annum |
| Category | Sarkari Yojana |
| Official page | www.udyamimitra.in |
Mudra Loan Interest Rates
The interest rates on PMMY loans are not determined by MUDRA. Lending institutions are now allowed to choose interest rates for MUDRA loans thanks to the agency’s approval. In order to find out the interest rates for MUDRA loans, potential borrowers need get in touch with the relevant bank, NBFC, or MFI. The interest rates for MUDRA loans provided by different banks are listed below.
| Lenders | Interest Rates (p.a.) |
| Union Bank of India | 10.50%-11.75% |
| Canara Bank | 10.05%-11.75% |
| Indian Bank | 10.55% onwards |
| Central Bank of India | 10.05% |
| Bank of Baroda | 9.15%-11.50% |
| Punjab National Bank | 10.40% |
Features of this yojana
Without the need for collateral, the Pradhan Mantri Mudra Yojana (PMMY) provides small enterprises and entrepreneurs with financial support.
- Interest rates– Vary per bank and are determined by the borrower’s profile and company needs.
- Loan Amount: Since it is a secured loan, the maximum cash amount is Rs. 10 lakh, but there is no lower restriction.
- Repayment Terms: The loan may be paid back within a 12-month to five-year timeframe, with the option of an extension in certain circumstances.
- Processing Fee: Usually, there is not a fee or a little fee added to the loan processing fee.
- No Foreclosure Charges: There are no additional fees associated with foreclosure if you decide to pay off your loan ahead of schedule.
- Lower Interest Rates for Women: A female entrepreneur can also receive a loan with a reduced interest rate.
PM MUDRA Loan- Eligibility Criteria
- Microenterprise sectors involved in manufacturing, services, processing, trade, or other related industries are eligible to apply for MUDRA loans. The potential borrower should have a good credit history and not be in default at any bank or other financial institution.
- Depending on the needs and nature of the proposed activity, an applicant’s educational background (if any) can also be evaluated. Additionally, candidates might need to possess the information, abilities, or experience needed to do the asked formalities.
MUDRA Card
The RuPay MUDRA Card is a debit card that provides an overdraft option as a working capital loan. By enabling numerous credits and withdrawals, the card digitizes transactions and builds the borrower’s credit history. The MUDRA card is issued in relation to a MUDRA loan account and may be used to make purchases at any Point of Sale (POS) machine in the nation or to withdraw cash from ATMs and micro ATMs. Depending on the availability of extra funds, the borrower may pay back the loan at any moment.
Application Process
The PM MUDRA loan application procedure is easy and quick, and it may be completed online or offline. For their loan to be granted, applicants must complete certain procedures and provide necessary documentation.
- Get the Application Form. Go to the bank’s website and download the application for a MUDRA loan.
- Completing the Form Fill out the form with all the information requested, then provide copies of your supporting documentation.
- Please submit the application. You will receive an ID or reference number after completing the online form.
- Formalities for loan- Loan Approval: You will speak with a bank representative to go over the following steps. Make sure you are carrying your reference ID. The loan will be approved and the funds credited to your bank account when documents will be verified.
| Official Website | Click Here |
| Homepage | OFSSBihar.in |