Do Not Call
Learn more about the Canara Bank Mudra Loan, including how to apply, eligibility, required documents, eligibility criteria and more.
Under the Pradhan Mantri Mudra Yojana (PMMY), Canara Bank offers the Canara Bank Mudra and Canara Bank e-Mudra schemes. These schemes are aimed at boosting the growth of small and medium enterprises, startups and micro entrepreneurs.
Here are some of the key highlights of the Canara Bank Mudra loan.
| Credit Nature | Particulars |
|---|---|
Credit Nature |
|
Purpose |
|
Eligible Borrowers |
|
Maximum Loan Amount |
Up to ₹10 Lakhs, in accordance with the loan category;
|
Repayment Tenure |
12 months to 5 years, depending on:
|
Processing Fee |
|
Margin |
As per bank guidelines. |
Interest rates |
Concessional Interest Rate (floating) linked to benchmark lending rate (RLLR):
|
Disclaimer: The information presented in the 'Canara Bank Mudra Loan Highlights' table is for informational purposes only and is based on the bank's current offerings and policies. All features, eligibility criteria, and terms are subject to change at the discretion of Canara Bank and in accordance with applicable regulations. Applicants are advised to verify the latest details and consult with a bank representative before proceeding with any loan application.
Here are some of the features of the Canara Bank Mudra loan schemes:
Designed to provide quick and uncomplicated financial support to micro units facing liquidity challenges.
Micro loans under the scheme do not require any collateral or third-party guarantee.
Available to individuals, proprietorships, partnerships, and Self-Help Groups (SHGs); excludes private limited companies, Hindu Undivided Families (HUFs), and trusts.
The loan amount offered by Canara Bank Mudra loan facility ranges between ₹10,000 to ₹10 Lakhs.
Applicants between the ages of 25 and 55 are eligible to apply for the Canara Bank Mudra loans.
Loans are secured by hypothecation of movable assets and/or mortgage of immovable property and existing business assets of the borrower.
Canara Bank offers Mudra loans at concessional interest rates linked to the benchmark lending rate, ensuring affordability for entrepreneurs. The applicable rates vary by loan category, as explained below:
Loan Categories |
Interest Rates |
Concessional Interest Rate (floating) linked to benchmark lending rate (RLLR): ROI – RLLR + 1.40% |
|
Disclaimer: The interest rates mentioned are indicative and subject to change as per Canara Bank's prevailing guidelines, linked to the Bank's Repo Linked Lending Rate (RLLR). Final rates will be determined based on the applicant's credit profile, loan amount, tenure, and other applicable terms and conditions. For the most accurate and up-to-date information, please refer to the official Canara Bank website or consult with a bank representative.
Existing customers with a satisfactory track record for the past 2 years, including proper account conduct with the financing branch and sound financials. Apart from existing customers, the scheme outlines specific categories of applicants who are considered eligible or ineligible, as detailed in the table below:
| Eligibility Parameter | Details |
|---|---|
Eligible Entities |
Udyam-registered individuals and proprietary firms |
Minimum Age |
55 years |
Credit History |
Satisfactory credit history as per lender’s policy |
Customer Type |
Existing Canara Bank customers with 2-year track record or new customers with satisfactory bank opinion |
Business Status |
New or existing micro-enterprises |
Restrictions |
Private limited companies, HUFs, trusts not eligible |
Defaulter Status |
Applicant should not be a defaulter with any lender |
Disclaimer: The eligibility and non-eligibility criteria provided above are for general informational purposes only. Final approval of loan applications is subject to Canara Bank’s policies, risk assessment, and regulatory guidelines.
| Eligibility Parameter | Details |
|---|---|
Loan Amount Range |
Rs. 50,001 to Rs. 5 Lakhs |
Eligible Entities |
Individuals, proprietorships, partnerships, self-help groups (SHGs) |
Customer Type |
Existing customers with a 2-year satisfactory track record or new customers with satisfactory bank opinion |
Business Status |
New or existing micro-enterprises |
Credit History |
Satisfactory credit history required |
Restrictions |
Private limited companies, HUFs, trusts not eligible |
Defaulter Status |
Applicant should not have defaults with other lenders |
Disclaimer: The eligibility and non-eligibility criteria provided above are for general informational purposes only. Final approval of loan applications is subject to Canara Bank’s policies, risk assessment, and regulatory guidelines.
| Eligibility Parameter | Details |
|---|---|
Loan Amount Range |
Rs. 5 Lakhs to Rs. 10 Lakhs |
Eligible Entities |
Individuals, proprietorships, partnerships, self-help groups (SHGs) who have successfully repaid previous Tarun loan under Mudra scheme |
Customer Type |
Only entrepreneurs who have availed and repaid Tarun loan previously |
Business Status |
Existing growing micro or small enterprises |
Credit History |
Satisfactory credit history required |
Restrictions |
Private limited companies, HUFs, trusts not eligible |
Defaulter Status |
Applicant should not be a defaulter |
Disclaimer: The eligibility and non-eligibility criteria provided above are for general informational purposes only. Final approval of loan applications is subject to Canara Bank’s policies, risk assessment, and regulatory guidelines.
Here are the documents required to apply for a Canara Bank Mudra loan:
| Document Type | Shishu Mudra Loan | Kishor Mudra Loan | Tarun Mudra Loan |
|---|---|---|---|
Identification Proof |
Valid customer identification proof |
Valid customer identification proof |
Valid customer identification proof |
Address Proof |
Address proof of the business unit and its promoters |
Address proof of the business unit and its promoters |
Address proof of the business unit and its promoters |
Licenses/Permissions |
Relevant licenses or permissions |
Relevant licenses or permissions |
Relevant licenses or permissions |
Financial Statements |
Financial statements for the past 2 years, including ITR, along with projections for the next year |
Financial statements for the past 2 years, including ITR, along with projections for the next year |
Financial statements for the past 2 years, including ITR, along with projections for the next year |
Guarantor Details |
Guarantor details with supporting proof of assets |
Guarantor details with supporting proof of assets |
Guarantor details with supporting proof of assets |
Sales Performance |
Sales performance achieved during the current financial year |
Sales performance achieved during the current financial year |
Sales performance achieved during the current financial year |
Project Report |
Detailed project report outlining technical and economic viability |
Detailed project report outlining technical and economic viability |
Detailed project report outlining technical and economic viability |
Disclaimer: The documents listed above are indicative and may vary depending on the applicant's specific requirements or bank policies. It is recommended to verify the exact list of required documents by contacting the bank directly.
Canara Bank provides financial assistance to micro and small businesses through the Pradhan Mantri Mudra Yojana (PMMY). The repayment structures are tailored to the borrower's business cash flow and financial capacity:
Term Loan: Repayable over a period of maximum 7 years, with suitable monthly or equated monthly instalments.
Working Capital: Available for a tenure of one year, subject to annual review and renewal.
Moratorium Period: A repayment holiday of 2 to 3 months may be permitted, depending on the business's cash flow and the borrower's financial assessment.
These repayment terms are structured to align with the borrower's cash flow and business needs, without requiring collateral security.
You can apply for a Canara Bank Mudra loan online (only for SHISHU category loans) or you may visit your nearest Canara Bank branch and get in touch with a representative from the bank. Here are the steps you need to follow:
Visit the Canara Bank eMUDRA portal.
Navigate to the ‘MSME Government Sponsored Schemes’ subsection under ‘MSME’ services.
Fill in the necessary details as requested at the subsequent steps of the process.
Provide Aadhaar number for e-KYC through UIDAI.
Complete the e-Sign through OTP authentication.
The application request will be processed and disbursed within the stipulated time period.
Here’s how you can contact the Canara Bank customer service in case of any queries.
EPABX: 080- 22221581/582/0490/0491/1788/ 1789/ 1790/1984/1985/1986
Canara Bank, Head Office, Bangalore: 080- 22221581/582/0490/0491/1788/ 1789/ 1790/1984/1985/1986
Call Centre: 18001030 (Toll Free)
EFRM Contact No.: 080 46200400 (Outgoing Only)
NRI Call Centre: +91-080-22064232, +91-080-68212121
The following table highlights some of the most popular central government schemes in India that provide financial support, employment, or skill development opportunities:
| Scheme Name | Purpose / Key Benefit |
|---|---|
Pradhan Mantri Jan-Dhan Yojana (PMJDY) |
Financial inclusion with basic accounts, RuPay card, and access to insurance/pension. |
Micro-credit loans to small/micro enterprises under Shishu, Kishor, and Tarun categories. |
|
MGNREGA |
Guarantees 100 days of wage employment per rural household with unskilled work. |
Short-term skill training and certification to enhance employability. |
|
Credit-linked subsidy for setting up micro-enterprises. |
|
Bank loans (₹10 Lakhs–₹1 Crore) to SC/ST and women entrepreneurs for greenfield enterprises. |
|
Recognition and support for startups through funding, tax benefits, and incubation. |
|
Credit guarantee for collateral-free loans to micro and small enterprises. |
|
Skilling and placement scheme for rural poor youth. |
|
DAY–NRLM |
Self-help group and livelihood support for women in rural areas. |
Kisan Credit Card (KCC) |
Affordable short-term credit facility for farmers. |
Ayushman Bharat – PM-JAY |
Health insurance scheme offering cashless treatment for secondary and tertiary care. |
These schemes collectively aim to improve financial security, create jobs, and support entrepreneurship across India.
Here’s a look at some notable state-level schemes launched by different governments to provide localised financial aid, social security, and employment benefits:
| Scheme Name | State | Purpose / Key Benefit |
|---|---|---|
Rythu Bandhu |
Telangana |
Direct cash support to farmers per acre each season for input costs. |
Aasara Pensions |
Telangana |
Monthly pension support for elderly, widows, and disabled persons. |
TS-iPASS |
Telangana |
Single-window clearance for industries to boost investment and jobs. |
YSR Rythu Bharosa |
Andhra Pradesh |
Annual income support package for farmers. |
Kanyashree Prakalpa |
West Bengal |
Cash scholarship to keep girls in school and prevent early marriage. |
LIFE Mission |
Kerala |
Housing and rehabilitation scheme linked with livelihood support. |
Naan Mudhalvan |
Tamil Nadu |
Upskilling and scholarship programme to boost youth employability. |
Mahatma Jyotirao Phule Shetkari Karjamukti Yojana |
Maharashtra |
Loan waiver and relief measures for indebted farmers. |
Mukhyamantri Kanya Suraksha Yojana |
Bihar |
Cash transfer scheme to promote girl child education and welfare. |
These state initiatives are designed to address region-specific challenges while complementing central programmes for inclusive development.
The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.
The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.
Proprietors or people who already own a business that they’re looking to grow or expand can apply for the Canara Bank Mudra loan. Alternatively, people that are looking to start a business can also apply for the Canara Bank Mudra loan.
You can check your application status by calling this number 1800-425-0018. Alternatively, you may also visit your Canara Bank branch.
The repayment tenure for the Canara Bank Mudra loan can range from 12 months to 5 years.
When you apply for the KISHOR or TARUN loans, you might have to furnish business documents including your balance sheet.
Personal Loan, Business Loan, Collateral
Fixed Deposit, Mutual Fund, NPS, Demat A/C, SGB
General Insurance, Life Insurance, Term Insurance
Stocks, IPOs
Credit Score, Report & Analysis
Smart Phone, Speaker, EarPhone
