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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.
Here are the key highlights of the ICICI Bank MUDRA Loan:
Credit Nature |
|
Purpose |
|
Eligible Borrowers |
Non-Corporate Small Business Segment (NCSBS) comprising of proprietorship or partnership firms |
Maximum Loan Amount |
In accordance with the loan category –
|
Repayment Tenure |
|
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.
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.
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.
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.
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 |
|---|---|---|
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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.
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.
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
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.
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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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