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List of Banks Offering Mudra Loan

The Pradhan Mantri MUDRA Yojana (PMMY) was launched in 2015 to focus on the financing needs of the vast number of micro-units. Micro enterprises are the among biggest employment providers in India. These enterprises, offering employment to over ten crore people across the country, are typically in the processing, manufacturing, services, and trading sectors. They could also be involved in non-farming allied agriculture-related activities.


The Mudra loan scheme doesn't directly lend to entrepreneurs; instead, these loans are made available through a host of financial institutions part of the Mudra bank branches' list. Non-banking financial companies (NBFCs), commercial banks, small finance banks, and regional rural banks (RRBs) can also be designated Mudra finance branches. Anyone who wants to avail themselves of a loan for their MSME unit must approach these lenders to apply for a Mudra loan.

Mudra Loan Bank List

Before we get to answering the question – “Which banks provide mudra loans?” – there are certain things that one must remember. The banks currently offering business loans under the Pradhan Mantri MUDRA Yojana have interest rates ranging from 11% to 37%. Some of the more popular banks that are offering MUDRA loans are as follows:

Mudra Loan Bank List 2022

Corporation Bank

Dena Bank

Federal Bank


Allahabad Bank

Andhra Bank

Axis Bank

Bank of Baroda

J&K Bank

Karnataka Bank

Kotak Mahindra Bank

Oriental Bank of Commerce

Bank of India

Bank of Maharashtra

Canara Bank

Central Bank of India


Indian Bank

Indian Overseas Bank

United Bank of India

Syndicate Bank

Tamilnad Mercantile Bank

UCO Bank

Union Bank of India

Punjab and Sind Bank

Punjab National Bank

Saraswat Bank

State Bank of India





Mudra loans are categorised into three brackets, depending on the loan amount. Accordingly,


  • Shishu Yojana offers loans for up to ₹50,000

  • Kishore Yojana offers loans up to ₹5 Lakhs

  • Tarun Yojana offers loans up to ₹10 Lakhs

Eligibility Criteria For Banks Providing Mudra Loan 

Suppose you are specifically looking for a business loan. In that case, it also helps to understand that Mudra has a list of partner institutions part of the Mudra loan eligibility banks’ list. These partner institutions on the Mudra bank list need to fulfill certain eligibility criteria before they are onboarded.


  • For public sector banks, the level of NPAs should not exceed 15%, while for the private sector or foreign banks, this level should not cross 10%. The net NPA level should be less than or equal to 3% for regional rural banks.

  • While the RRBs should have earned a net profit in the previous two years, the private and public sector banks should have profited in the last two years or must have a rating of over “A-minus” from credit rating agencies.

  • The profits earned over the last two financial years will be considered for small finance banks. Credit ratings could be considered solely at the discretion of Mudra. Also, their net NPA should be equal to or less than 3%.


Several other parameters are considered before partner institutions are selected to be a part of the list of institutions that can make Mudra loans available through bank transfers to the entrepreneur in need.

  • Microfinance institutions should undergo a minimum of three ratings with the latest grading of at least MFR3, as per MUDRA or SIDBI (Small Industries Development Bank of India) guidelines. This is necessary for exposure of above ₹25 Crores by Mudra.

  • NBFCs, too, need to show a track record of five years with profits before being chosen as partner institutions or Mudra banks.


So far, a list of 203 partner institutions or Mudra banks has been shortlisted. These include 15 cooperative banks, 25 microfinance institutions, 35 NBFCs, 47 NBFC-MFI, 18 private sector banks, 21 public sector banks, 36 RRBs, and 6 small finance banks. The whole list is available on the Mudra website.


These institutions serve potential beneficiaries across the country and ensure superior delivery of the Mudra loan scheme to those in need. Thanks to the Mudra bank list, PMMY aims to achieve last-mile credit delivery so that no one in need of a business loan gets left behind.


Suppose you are looking at a Mudra loan and are the owner of a micro, small, or medium enterprise. In that case, you can approach any Mudra-designated financial institution in India or even apply online. However, if you are looking for a business loan of over ₹10 Lakhs, you could look at the business loans or the MSME loans to expand your business and get new equipment or infrastructure. At Finserv MARKETS, you can get a business loan of up to ₹75 Lakhs. The loans are zero-collateral and are approved in as little as 2 minutes. The repayment tenures are also flexible and range from 12-60 months.


  • ✔️Which banks give MUDRA loans?

    Following are some of the major banks:

    ●        HDFC bank

    ●        Axis Bank

    ●        Bank of Baroda

    ●        Indian Bank

    ●        State Bank of India

    ●        Punjab National Bank

  • ✔️What is the interest rate for a MUDRA loan?

    MUDRA loan interest rates typically begin at 9.65%, varying from one bank to another and are available for tenures of up to 7 years.

  • ✔️Is a MUDRA loan still available?

    Yes, If you are a micro entrepreneur, you could opt for one of these loans depending on the amount you would require. If you want a higher amount, you could look up one of the various  business loans. It is easy to apply for these loans online with minimal documentation.

  • ✔️What are the documents required for a MUDRA loan?

    ●        MUDRA application form.

    ●        Vehicle loan application form.

    ●        2 passport size colour photographs.

    ●        Photo Identity proof.

    ●        Address proof.

    ●        Income proof.

    ●        Bank statement (last 6 months)

  • ✔️How can I get a MUDRA Loan online?

    Individuals have to follow the steps mentioned below to apply for MUDRA loan:

    ●        Applicants need to have the necessary documents required to avail a MUDRA loan.

    ●        Individuals can apply for a MUDRA loan with almost all leading financial institutions in India.

    ●        Applicants then have to fill the MUDRA loan application form and furnish their personal and business details. They also have to ascertain the amount they want to avail before knowing how to apply for MUDRA loan scheme.