If you face any problem at the time of availing a Mudra loan online, you can go with the offline method. Mentioned below are the steps by which you can apply for a Mudra Loan offline:
Step 1: Visit a PMMY-authorised financial institution or NBFC.
Step 2: Make sure that you have a documented business plan.
Step 3: Fill out the Mudra loan application form with the necessary details.
Step 4: Submit the application form enclosed with the necessary documents and with passport size photographs.
Step 5: After the verification of all the documents, the loan request will be approved and the loan amount will be remitted to your bank account.
• To apply for a MUDRA Loan, firstly, you would need to find a lender registered under the Mudra scheme.
• Once you find a suitable lender, fill in your Mudra loan form by providing your personal and business details
• Specify the amount of loan and submit the required documents to go ahead with your Mudra loan application.
• The lender will view your application and sanction the loan amount if everything is found to be correct.
Yes, with leading NBFCs, you can apply for a MUDRA loan online. However, in order to be eligible for the MUDRA loan, it is necessary that you should not have defaulted repayment of earlier loans taken from any lender.
Yes, graduates who want to start businesses can also apply for a Mudra loan. Based on the type of business and the project requirements, a Mudra loan can help get their businesses set-up and functional.
All financial institutions have various policies. Several institutions offer online facilities to check the mudra loan status. Alternatively, by using SBI e Mudra you can verify your Mudra loan status by calling at 1800-11-2211 (toll-free).