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Financing can be a challenge if you are a small business owner. Thankfully, there are schemes like the Pradhan Mantri Mudra Yojana that aim to make your entrepreneurial life easier. Under the Mudra scheme, a loan of upto Rs. 10 Lakhs can be given to small business owners for capital and operating costs. Find out if you are eligible for this loan and check the step-by-step process to apply for Mudra loan online.

How to Apply for Mudra Loan Online?

The Mudra scheme offers funding to businesses in the non-corporate and non-farm sectors of the micro, small, and medium enterprises (MSME) sector. Note that Mudra loans cannot be taken for personal needs, and you must have a genuine business plan before applying for the loan. 

Interested applicants can apply for Mudra Loan online by simply visiting the official website of the authorised banks. You must fill the online application form for either the Shishu, Kishore, or Tarun loan scheme, depending upon your needs and the scale of your operations. Below we have provided simple steps to apply for a Mudra loan online:


  • Step 1: Visit the official website of the PMMY-authorised financial institution from which you wish to avail the Mudra loan. Download the relevant form from the options that will look similar to the ones in the screenshot below.

  • Step 2: Download the form of the loan (Shishu, Tarun, or Kishore) you require and enter personal and business details like your name, date of birth, residential/business address, and educational qualifications, etc., in the Mudra loan application form

  • Step 3: Then, submit the application form. Ensure you have the required documents while submitting it to the bank or the lending institution.

  • Step 4: Once the Mudra loan application form and attached documents are processed and verified, the loan shall be approved and disbursed into your bank account.

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Procedure to Apply for Mudra Loan Offline

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. 

Documents Required for Mudra Loan Application

The list of documents required for Mudra loan application is given below:

  • A Mudra application form with two of your most recent passport-sized photographs

  • KYC documents such as your passport, voter ID card, driving licence, Aadhaar card, utility bills (water or electricity), PAN card

  • Special identity documents such as your caste certificate in case you belong to the SC/ST or any other special category

  • A proof of your business income

  • The address proof of your business

  • A proof of establishment of your business (if in case you are already running an enterprise)

  • Your bank account statements going back at least 12 months

  • Your Income Tax Returns (ITR) for the past 2 years, if applicable


  • Any other document requested by the bank officials



A Bajaj Markets customer can always apply for a business loan hassle-free. With Bajaj Markets, you can opt for a business loan right now to fulfil your professional goals. Apply now!

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About MUDRA Yojana under PMMY

Introduced on the 8th of April, 2015 by the Hon’ble Prime Minister, Pradhan Mantri MUDRA Yojana (PMMY) is a scheme that provides business credit up to Rs. 10 Lakhs to small, micro-enterprises, non-farm and non-corporate enterprises. These loans are categorized as MUDRA loans under the scheme and have three products named as ‘Sishu’, Kishore’ and ‘Tarun’. 


These loans are available from Commercial Banks, RRBs, Cooperative banks, Small Finance Banks, NBFCs and MFIs. Potential borrowers need to apply online via the PMMY website portal or can meet any lending institutions approved under this scheme to get their loan application form. The loan amount provided under Sishu is up to Rs. 50,000, Kishor is from Rs. 50,000 to Rs. 5,00,000, and Tarun is Rs. 5,00,000 to Rs. 10,00,000.

How to Apply for Mudra Loan FAQs

• 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.

The documents required are mentioned below: • MUDRA Loan Application with self-attested identity proof of loan applicant and 2 passport size photographs. • Loan application prescribed by the lender seeking information about the applicant, past financial records and profile of the activity proposed • Details of suppliers, types of machinery, as well as other items to be purchased for the activity proposed. • Identity of business ownership and business address. • Copies of necessary licenses and certificates to carry out the trade or activity for which the finance is availed.

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.

No, the Mudra Yojana does not offer any subsidies.

Various interest rates are listed below:

  • The interest rate under Sishu loan scheme is 1% - 12%.

  • The interest rate under Kishor loan scheme is 8.60% - 11.15%

  • The interest rate under Tarun loan scheme is 11.15% - 20%. 

  • The interest rate is also decided based on the tenure chosen by the borrower

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).

The online marketplace of Bajaj Markets hosts several financial institutes who offer Mudra loan to non-corporate micro and small enterprises as well as non-farming enterprises. The maximum loan amount one can avail is Rs. 10 Lakhs.

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