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ICICI Bank MUDRA Loan

Learn all about ICICI Bank MUDRA Loan, including its features and benefits, eligibility criteria, documents required, how to apply, and more.

ICICI Bank is an Indian banking and financial services company that offers a number of banking products and financial services. One such loan product is the ICICI Bank MUDRA Loan. These loans are offered under the Pradhan Mantri MUDRA Yojana (PMMY). The primary objective of these loans is to provide financial assistance of up to ₹10 Lakhs to the non-corporate, non-farm small and micro enterprises.

ICICI Bank MUDRA Loan Highlights

Here are the key highlights of the ICICI Bank MUDRA Loan:

Credit Nature

  • Working capital 

  • Term loan

Purpose

  • Vehicle Loans: Commercial & personal car or two-wheeler

  • Business Instalment Loan (BIL): Working capital, purchasing machinery and plants, office renovation, etc. 

  • Business Loans Group Loans (BLG) and Rural Business Credit (RBC): Working capital loans, overdraft facility, drop line overdraft, etc.

Eligible Borrowers

Non-Corporate Small Business Segment (NCSBS) comprising of proprietorship or partnership firms

Maximum Loan Amount

In accordance with the loan category – 

  • Shishu: Up to ₹50,000

  • Kishore: ₹50,001 to ₹5 Lakhs

  • Tarun: ₹5 Lakhs to ₹10 Lakhs

  • Tarun Plus: ₹10 Lakhs to ₹20 Lakhs

Repayment Tenure

  • Up to 7 years, may vary as per lender’s discretion

Interest rates

Depends on bank policies & can vary as per applicant profile

Collateral security

No collateral will be required

Disclaimer: The actual ICICI Bank MUDRA Loan interest rates applicable for each category are not specified and may vary based on customer profile and loan amount. Interested applicants are advised to visit a bank branch or get in touch with the bank’s representatives to get further information.

ICICI Bank MUDRA Loan Features

Here are the features of the ICICI Bank MUDRA Loan: 

  • The ICICI Bank MUDRA Loan under the Pradhan Mantri MUDRA Yojana (PMMY) is an MSME-focused business loan product. 

  • The ICICI Bank MUDRA Loan is a collateral-free loan product. 

  • All Non-Corporate Small Business Segment parties (NCSBS) consisting of proprietorship or partnership firms are eligible for the ICICI Bank MUDRA Loan. 

  • There are four categories of loans offered under the ICICI Bank MUDRA Loan – Shishu, Kishore, Tarun, and Tarun Plus.

ICICI Bank MUDRA Loan Interest Rates and Charges

Loan Categories

Interest Rates 

Shishu

As per bank’s policies and depending on an applicant’s financial and business profile

Kishore

Tarun

Tarun Plus

Disclaimer: The actual ICICI Bank MUDRA Loan interest rates applicable for each category are not specified and may vary based on customer profile and loan amount. Interested applicants are advised to visit a bank branch or get in touch with the bank’s representatives to get further information.

ICICI Bank MUDRA Loan Eligibility Criteria

Here are the eligibility criteria for the ICICI Bank MUDRA Loan:

  • All Non-Corporate Small Business Segment members (NCSBS), which can be either proprietorship or partnership firms, are eligible to apply for the ICICI Bank MUDRA Loan.

Documents Required for ICICI Bank MUDRA Loan

Here are the documents required in order to apply for the ICICI Bank MUDRA Loan:

Vehicle Loans Business Instalment Loan Business Loans Group and Rural Business Credit
  • MUDRA application form

  • Identity proof

  • Income proof

  • Address proof

  • Bank statement (last 6 months)

  • Vehicle loan application form

  • 2 passport-size colour photographs

  • MUDRA application form

  • Identity proof

  • Address proof

  • Establishment proof

  • Bank statement (last 6 months)

  • BIL application form

  • Proof of qualification

  • Proof of residence/office ownership

  • Proof of business continuity

  • 2 years ITR

  • Trade references

  • CA-certified financials

  • MUDRA application form

  • Identity proof

  • Address proof

  • BIL/RBC application form

  • Proof of residence/office ownership

  • Proof of business vintage

  • 12 months’ bank statement

  • 2 years ITR

ICICI Bank MUDRA Loan Repayment Tenure

The repayment period for a MUDRA Loan can range from 12 months to up to 7 years, depending on the loan category (Shishu, Kishore, or Tarun) and the lender's specific policy. Generally, smaller loans under the Shishu category may have shorter tenures, while loans under the Kishore and Tarun categories can extend up to 5 or 7 years, respectively. 

Here are the repayment periods by loan category: 

  • Shishu: For loans of up to ₹50,000, the repayment tenure can extend up to 5 years. 

  • Kishore: For loans between ₹50,001 and ₹5 Lakhs, the repayment period can be up to 5 years. 

  • Tarun: Loans between ₹5,00,001 and ₹10 Lakhs can have a repayment period of up to 7 years. 

  • Tarun Plus: Loans between ₹10,00,001 and ₹20 Lakhs can have a repayment period of up to 7 years.

How to Apply for an ICICI Bank MUDRA Loan

To apply for an ICICI Bank MUDRA Loan, you can apply online through the official Udyamimitra portal at www.udyamimitra.in. You may also contact your nearest ICICI Bank branch to fill out the loan application form. 

Ensure that you have all your business and personal details, along with the required documents like identity proof, address proof, business vintage proof, and financials, ready to submit for verification.

ICICI Bank MUDRA Loan Customer Care Details

You can contact ICICI Bank’s customer service team via the following ways: 

  • Toll-free number: 1800 1080

  • Backup customer care number: 1860 120 7777

  • Email ID: customer.care@icicibank.com 

  • Postal address: ICICI Bank Limited, ICICI Phone Banking Center, ICICI Bank Tower, 7th floor, Survey no: 115/27, Plot no. 12, Nanakramguda, Serilingampally, Hyderabad – 500032.

Other Government Schemes To Look For

Central Government Schemes

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.

Pradhan Mantri MUDRA Yojana (PMMY)

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.

Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

Short-term skill training and certification to enhance employability.

Prime Minister’s Employment Generation Programme (PMEGP)

Credit-linked subsidy for setting up micro-enterprises.

Stand-Up India

Bank loans (₹10 Lakhs–₹1 Crore) to SC/ST and women entrepreneurs for greenfield enterprises.

Startup India

Recognition and support for startups through funding, tax benefits, and incubation.

CGTMSE

Credit guarantee for collateral-free loans to micro and small enterprises.

DDU-GKY

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.

State-Level Schemes

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.

DISCLAIMER

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.

FAQs

Can I apply for a MUDRA Loan in ICICI Bank?

Yes, you can apply for a MUDRA Loan at ICICI Bank. You can apply for the loan by visiting a branch of ICICI Bank or by applying online through the official portal, www.udyamimitra.in. If you are from the Non-Corporate Small Business Segment (NCSBS), consisting of proprietorship or partnership firms, you can be eligible for the ICICI Bank MUDRA Loan.

Yes, when you apply for a MUDRA Loan with ICICI bank, you would be required to submit your proof of income. You typically need ITRs and bank statements, etc., to show your financial standing, apart from proof of identity, income, address, business continuity, etc.

No, you cannot apply for an ICICI Bank MUDRA Loan without your ITR. It is a required document to verify the financial standing of your business. You must also provide alternative proofs of income, such as bank statements and balance sheets, for the lender to assess your financial health and creditworthiness.

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